September was a banner month for Muskoka Real Estate Sales on Lake Muskoka and Lake Joseph. Both of these lakes had more sales this month than in any other year. Lake Rosseau had a strong showing, although there were fewer sales in September on Lake Rosseau than in 2007 and 2006.

There were 20 sales on Lake Muskoka in September, compared to 10 sales in Sept 2008, 11 in 2007, and 10 in 2006

On Lake Muskoka 17 of the 20 sales were under $1,000,000.00

Altogether there have been 149 MLS sales to date in 2009 on the big lakes in Muskoka

For more information email us at Thelma@royallepage.ca and we will send you all the details of the sales across the three big lakes

July was a banner month in terms of cottage sales on the three big lakes in Muskoka.

On Lake Muskoka there were 25 sales, which is more than in July 2008, 2007 or 2006.

On Lake Rosseau there were 6 sales, which is 3 more than in 2008 and the same as in 2006.

On Lake Joseph there were 8 sales, which was 5 more than in 2008, equal to 2007, and one more than in 2006.

If you would like to receive a Muskoka Real Estate Market Report, on a complimentary basis, by email each month, call us at 705-645-2110 or email Thelma@royallepage.ca

The number of listings on the three big lakes has increased each month, as the numbers of sales is down from previous years. Price reductions are up.

Number of Current Listings

May June July

Lake Muskoka 73 125 135

Lake Rosseau 16 29 35

Lake Joseph 20 34 42

Number of Sales May June July Total/yr

Lake Muskoka 14 6 10 39

Lake Rosseau 5 2 312

Lake Joseph 5 3 4 13

Number of Price Reductions on big lakes

April 1

May 27

June 41

July 62

Price Spread of Sales to August 1st 2008

Millions Lake Muskoka Lake Rosseau Lake Joseph

0-.5 9 1 1

.5-1.014 4 4

1.0-2.0 10 7 5

2.0-3.0 40 1

3.0-4.0 20 0

4.0-5.0 0 0 1

5.0-6.0 0 0 1

There have been 39 cottages sold between January 1st and July 31st 2008 on Lake Muskoka. During the same period in 2006 there were 66 cottages sold.

There have been 12 cottages sold between January 1st and July 31st 2008 on Lake Rosseau. During the same time period in 2006 there were 24 cottages sold.

There have been 13 cottages sold between January 1st and July 31st 2008 on Lake Joseph. During the same period in 2006 there were 32 cottages sold.

There have been 63 prices reductions across the three big lakes in the month of July.

Watch this blog for more statistics, now that the end of the month has arrived.

In the month of July to date ( July 20th) there have been 7 sales on the three big lakes. 5 sales on Lake Muskoka, 1 sale on Lake Rosseau, and 1 sale on Lake Joseph

There have been 32 price reductions on the three big lakes. 22 on Lake Muksoka, 3 on lake Rosseau, and 7 on Lake Joseph

There are fewer sales by far than in previous years. At the end of this month I will give 2008 sales figures that you can compare to 2007 and 2006 sales figures for the end of July.

Many people are saying that prices are down and are quoting percentages. I think it is important to examine where these percentages come from. We have figures to show that there are fewer sales , however it is a much more complicated calculation to say that sale prices are down.

Be wary of statistics that have no basis in defendable fact.

There are at least two sales that occurred after being listed in less than a week on Lake Muskoka.

This little tugboat was quite a hit at the boatshow on the weekend.

Price Reductions

The number of price reductions on big lake waterfront has continued to grow.

In April there was 1 price reduction, in May 27 price reductions and in June 41 price reductions across Lakes Muskoka, Rosseau and Joseph.

Current Active Listings

In May there were 73 active listings on Lake Muskoka and as of July 1st there were 125

In May there were 16 active listngs on Lake Rosseau, and as of July 1st there were 29

In May there were 20 active listings on Lake Joseph, and as of July 1st there were 34

I wish I had the data to compare these figures to previous years, but unfortunately I do not.

If you would like a copy of the complete set of current statistics in our July market report, email us at thelma@royallepage.ca

It is the 1st of July and the weather has been beautiful today. The picture above shows the intricate stonework in an old fireplace at Bigwin Inn on Lake of Bays

It rained all through the month of June, and the the bugs have been fierce. Not many cottagers or tourists have been seen in the towns, or on the lakes around Muskoka.

These are the sales on the three big lakes during June:

6 sales on Lake Muskoka for a total to date of 29 sales

2 sales on Lake Rosseau for a total to date of 9 sales

3 sales on lake Joseph for a total of 9 sales.

Later this week I will show how many properties are currently listed in each price range, and will show in which price ranges these sales were made.

These statistics are hand collected from the professional MLS site and can only reflect the accuracy of that site.

Price Reductions

I was interested to compare the number of price reductions happening this year, to the number of price reductions from other years.

It is not a statistically valid comparison, as I have used the sales ( 14 ) on one lake for the month of May as the basis of my 2008 number, however it does give me some perspective. The figure for all other years represents all sales on the same lake for the year.

Percentage of Sold Cottages That Had a Price Reduction Before Selling

2008 42.8 %

2007 48.4 %

2006 39.4 %

2005 38.1 %

2004 38.4 %

Making this kind of comparison helps to understand this year’s activity.

The number of price reductions to the end of May are not out of line with previous years.

I will continue to present activity on this year’s market in the perspective of its comparison to previous years, to give us all insight.

Soon I will have the statistics for June completed, and this will give a second quarter perspective on the number of price reductions.

I will make a comparison of the number of days on the market this year, compared to previous years.

I will also compare the value percentage of price reductions for this year to other years.

Have a good long week end.