Muskoka & Simcoe County MLS® home sales mark divergence between non-waterfront residential and waterfront properties in 2024
Residential non-waterfront sales activity recorded in Muskoka & Simcoe County via the MLS® System for the OnePoint Association of REALTORS® totaled 309 units in December 2024. This was a sizable gain of 26.1% from the same period in 2023.
Residential non-waterfront sales were 21.8% below the five-year average and 19.9% below the 10-year average for the month of December.
On an annual basis, residential non-waterfront sales totaled 6,610 units over the course of 2024. This decreased by 9.4% from 2023.
Sales of waterfront properties numbered 39 units in December 2024. This was a jump of 69.6% from the same period in 2023.
Waterfront sales were 16.3% below the five-year average and 20.9% below the 10-year average for the month of December.
On an annual basis, waterfront sales totaled 1,277 units over the course of 2024. This increased by 23.4% from 2023.
“Non-waterfront residential property sales remained subdued for most of 2024, finally beginning to pick up in the fall. Waterfront homes, on the other hand, began their recovery much sooner in the year with a turnaround all the way back in the spring,” said Bonnie Looby, President of OnePoint Association of REALTORS®. “The result was that non-waterfront home sales declined for another year while waterfront activity bounced back to 2022 levels. However, with both property types now in recovery we expect this divergence to have closed as we move into 2025. There’s still a fair amount of inventory out there that the market will have to work through before we start seeing any meaningful price increases, but in the meantime buyers have an ample selection from which to choose as markets in Ontario are generally starting to trend up again.”
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 $698,000 in December 2024, a small gain of 3.9% compared to December 2023.
The benchmark price for single-family homes was $727,000, increasing by 4.8% on a year-over-year basis in December. By comparison, the benchmark price for townhouse/row units was $550,600, a modest decline of 1.8% compared to a year earlier, while the benchmark apartment price was $450,800, down by 8.3% from year-ago levels.
The median price for residential non-waterfront property sales in December 2024 was $670,000, a modest gain of 3.1% from December 2023.
The more comprehensive annual residential non-waterfront median price was $675,000, down modestly by 3.6% from all of 2023.
The median price for waterfront property sales in December 2024 was $815,000, a sharp decrease of 22.4% from December 2023.
The more comprehensive annual waterfront median price was $974,000, nearly unchanged, up only 0.2% from all of 2023.
The total dollar value of all residential non-waterfront sales in December 2024 was $229.1 million, an increase of 27.3% from the same month in 2023.
The total dollar value of all waterfront sales in December 2024 was $46.4 million, a jump of 50.9% from the same month in 2023.
* Statistics in this report are subject to revision due to a recent migration to a new MLS® system.
| Summary – Sales by Housing Type | |||
|---|---|---|---|
| Category | December 2024 | December 2023 | Year-over-year % change |
| Non-Waterfront Residential | 309 | 245 | 26.1 |
| Waterfront | 39 | 23 | 69.6 |
| Includes transactions in all areas recorded by The Lakelands Association of REALTORS® | |||
| Summary – Median Price by Housing Type | |||
|---|---|---|---|
| Category | December 2024 | December 2023 | Year-over-year % change |
| Non-Waterfront Residential | $670,000 | $650,000 | 3.1 |
| Waterfront | $815,000 | $1,050,000 | -22.4 |
| Includes transactions in all areas recorded by The Lakelands Association of REALTORS® | |||
| Detailed – Non-Waterfront Residential Sales and Median Price by Area / Non-Waterfront Residential | ||||||
|---|---|---|---|---|---|---|
| Area | December 2024 | December 2023 | Year-over-year % change | December 2024 | December 2023 | Year-over-year % change |
| Simcoe County West and Grey County West1 | 108 | 78 | 38.5 | $670,000 | $615,000 | 8.9 |
| Simcoe County North2 | 155 | 138 | 12.3 | $710,000 | $693,050 | 2.4 |
| Muskoka & Area3 | 46 | 29 | 58.6 | $619,000 | $620,000 | -0.2 |
| Includes transactions in all areas recorded by The Lakelands Association of REALTORS® | ||||||
| Detailed – Waterfront Sales and Median Price by Area / Waterfront | ||||||
|---|---|---|---|---|---|---|
| Area | December 2024 | December 2023 | Year-over-year % change | December 2024 | December 2023 | Year-over-year % change |
| Simcoe County West and Grey County West1 | 6 | 2 | 200 | $821,000 | $512,500 | 60.2 |
| Simcoe County North2 | 12 | 8 | 50 | $930,000 | $986,250 | -5.7 |
| Muskoka & Area3 | 21 | 13 | 61.5 | $815,000 | $1,195,000 | -31.8 |
| Includes transactions in all areas recorded by The Lakelands Association of REALTORS® | ||||||
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
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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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Bonnie Looby
