Muskoka & Simcoe County MLS® home sales post considerable recovery in October
Residential non-waterfront sales activity recorded in Muskoka & Simcoe County via the MLS® System for the OnePoint Association of REALTORS® totaled 474 units in October 2024. This was a substantial increase of 54.4% from the same period in 2023.
Residential non-waterfront sales were 5% below the five-year average and 7.7% below the 10-year average for the month of October.
On a year-to-date basis, residential non-waterfront sales totaled 3,712 units over the first 10 months of the year. This was a small reduction of 1.1% from the same period in 2023.
Sales of waterfront properties numbered 118 units in October 2024. This was an increase of 10.3% (11 sales) from the same period in 2023.
Waterfront sales were 15.6% below the five-year average and 19.4% below the 10-year average for the month of October.
On a year-to-date basis, waterfront sales totaled 1,044 units over the first 10 months of the year. This was a small gain of 2.1% from the same period in 2023.
“Sales activity recorded a notable year-over-year increase in October, due largely to a very strong rebound in non-waterfront home sales,” said Bonnie Looby, President of the OnePoint Association of REALTORS®. “Non-waterfront new listings were also trending at record levels for the month of October as sellers undoubtedly responded to increased demand from buyers. We likely won’t be seeing this kind of resurgence in waterfront properties as we head into the colder season but it may be wise to look at trends for non-waterfront homes during this time in anticipation of what may come in the spring.”
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $697,300 in October 2024, a small reduction of 3.2% compared to October 2023.
The benchmark price for single-family homes was $726,300, falling by 3.2% on a year-over-year basis in October. By comparison, the benchmark price for townhouse/row units was $549,300, a decline of 5.3% compared to a year earlier, while the benchmark apartment price was $460,900, down modestly by 3.1% from year-ago levels.
The median price for residential non-waterfront property sales in October 2024 was $640,000, decreasing by 3.8% from October 2023.
The more comprehensive year-to-date residential non-waterfront median price was $655,000, a modest decline of 3.7% from the first 10 months of 2023.
The median price for waterfront property sales in October 2024 was $1,029,000, increasing by 12.5% from October 2023.
The more comprehensive year-to-date waterfront median price was $950,000, unchanged from the first 10 months of 2023.
The total dollar value of all residential non-waterfront sales in October 2024 was $354.3 million, up sharply by 58% from the same month in 2023.
The total dollar value of all waterfront sales in October 2024 was $174.4 million, an increase of 25.2% from the same month in 2023.
¹ Simcoe County West and Grey County West : The Blue Mountains, Clearview, Collingwood, Grey Highlands, Meaford, Wasaga Beach
² Simcoe County North : Midland, Orillia, Oro-Medonte, Penetanguishene, Ramara, Severn, Springwater, Tay, Tiny
³ Muskoka & Area: Algonquin Highlands, The Archipelago, Bracebridge, Dysart et al, Georgian Bay Township, Gravenhurst, Highlands East, Huntsville, Lake of Bays, Minden, Muskoka Lakes, Parry Sound
BOARD & ASSOCIATION INFORMATION
OnePoint Association of REALTORS® serves as a unified body representing almost 3,000 real estate professionals across the regions of Huron, Perth, Grey, Bruce, Wellington, Georgian Bay, Simcoe, Parry Sound, Haliburton and Muskoka.
OnePoint Association of REALTORS® - Muskoka & Simcoe County
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joline@onepointar.ca
Bonnie Looby
