OnePoint Association of REALTORS® - Muskoka & Simcoe County

Residential non-waterfront sales activity recorded in Muskoka & Simcoe County via the MLS® System for the OnePoint Association of REALTORS® totaled 382 units in November 2024. This was a jump of 47.5% from the same period in 2023.

Residential non-waterfront sales were 3.3% below the five-year average and 5.9% below the 10-year average for the month of November.

On a year-to-date basis, residential non-waterfront sales totaled 4,097 units over the first 11 months of the year. This increased by 2.1% from the same period in 2023.

Sales of waterfront properties numbered 83 units in November 2024. This was a jump of 31.7% from the same period in 2023.

Waterfront sales were 7.2% below the five-year average and 11.5% below the 10-year average for the month of November.

On a year-to-date basis, waterfront sales totaled 1,127 units over the first 11 months of the year. This increased by 3.7% from the same period in 2023.

“Much like many other areas in Southern Ontario and around our local region, sales activity rocketed upwards in November, surpassing expectations for a continuation of the slow and steady recovery we’d been seeing throughout most of the year so far,” said Bonnie Looby, President of OnePoint Association of REALTORS®. “While things are likely to quiet down in our region during the winter months, this sudden burst of activity bodes well for an even strong pickup in the spring. With the numbers sitting at where they are right now it’s even possible that we’ll finish the year ahead of 2023, although it’s going to be a tight race depending on what happens with December’s data.”

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 $693,700 in November 2024, a small reduction of 1.5% compared to November 2023.

The benchmark price for single-family homes was $722,200, falling by 1.3% on a year-over-year basis in November. By comparison, the benchmark price for townhouse/row units was $556,000, a modest decline of 2.9% compared to a year earlier, while the benchmark apartment price was $451,600, down modestly by 3.8% from year-ago levels.

The median price for residential non-waterfront property sales in November 2024 was $667,500, a gain of 8.5% from November 2023.

The more comprehensive year-to-date residential non-waterfront median price was $655,000, down modestly by 3% from the first 11 months of 2023.

The median price for waterfront property sales in November 2024 was $800,000, a decline of 8% from November 2023.

The more comprehensive year-to-date waterfront median price was $925,000, down modestly by 2.6% from the first 11 months of 2023.

The total dollar value of all residential non-waterfront sales in November 2024 was $285.4 million, a substantial increase of 55.7% from the same month in 2023.

The total dollar value of all waterfront sales in November 2024 was $84.6 million, a sizable gain of 28.2% from the same month in 2023.