MarketWATCH Muskoka: Real Estate Market 2022 in Review

2022 was a mixed bag in a number of ways. The year started strongly as COVID impetus was still in play. Property at the beginning of the year sold quickly and often in competition. After the end of May, sales slowed, although prices remained strong in Muskoka.

The trend throughout our service area (Muskoka, Parry Sound, Haliburton) meant that by year end, overall average price increase was around 4.6% for lakefront property. The number of units sold, however, declined by almost 40% throughout the area from 2021.

The Big 3 Lakes (Muskoka, Rosseau and Joseph) continued to show strength in prices, achieved with an increment greater than 10% while the number of sales dropped to their lowest level since 2008 . The drop is not surprising as the previous two years were standouts with the number of lakefront properties sold.

Interesting to note that smaller lakes in Muskoka saw a higher increase in prices than the Big 3 in 2022 reminding us of the market around 2005/6. At that time, perceived value of smaller lakes grew as cottagers recognized how much more could be purchased on them for the same or smaller dollar. A number of offerings were new builds or major renos, giving purchasers direct comparisons with some of the Big Lake properties for sale.

Interest rates had a dampening effect mid-year. Given most lake homes are discretionary purchases, buyers face costs of borrowing which may be higher, higher insurance rates and property taxes than their urban dwellings. Monetary policy had its desired effect.

Indicators for the coming year show buyers less concerned about inflation. Inquiries we are receiving show purpose on the part of buyers and sellers alike. How that translates to activity is a little early to tell – although as we write, there is action out there despite❄️snow forecasts for the end of the week.

If you have questions about your specific lake, let us know. We’re happy to share what we know!

3196 WEST SHORE Road, Haliburton, Ontario K0M 1S0
$ 5,999,999 | MLS# 40349418

Welcome to Exquisite Living at Kennisis Lake. Sitting on an extremely private 4.5 acre lot on the upscale West Shore of Kennisis Lake, this turn-key 6300 square foot, 5 bedroom 6 bathroom custom built lake house with triple detached garage has been meticulously crafted with no expense spared. The attention to detail is absolutely breathtaking from the moment you arrive and witness the incredible lake views from every vantage point, with mature trees and magnificent Canadian Shield rock, extensive landscaping and a stunning architectural exterior. With 10 ft ceilings throughout, the open concept living space was made for entertaining with the great room featuring a floor-to-ceiling wood burning fireplace and a wall of windows and walkout doors for indoor/outdoor living and expansive easterly views over prestigious Kennisis Lake. The custom kitchen has been designed for ultimate functionality with quartz counters, Frigidaire Professional appliances, pot filler, and an oversized island. Completing the main floor is a spacious mudroom, secondary master suite with ensuite, and a guest bedroom, bathroom and laundry. The entire upper level is a jaw-dropping primary suite; with stunning lake views, vaulted ceilings, seating area, walk-in closet, propane fireplace, wet bar, and a spa-inspired ensuite bath. The walk-out lower level offers two more bedrooms and baths, wet bar plus a billiards room and family room. There are multiple walkouts throughout the house to the front and back yards with extensive decking, paver stone patios, screened in porch, outdoor stone fireplace on the deck and 15ft circular stone lakeside fire pit. With a private boat launch, deep water off the dock and a gradual entry from the granite shore give the best of both worlds for those looking to jump in, park a boat or wade in with the little ones. Kennisis Lake is part of a two lake chain and is one the largest, deepest and cleanest lakes in Haliburton for miles of boating and exploring. Click here for property listing details


1016 ZOE Lane, Bracebridge, Ontario P1L 0L5
$ 2,675,000 | MLS# 40361704

Muskoka! Stunning, 2-Year-Old Home Perfectly Situated In Bracebridge On 3.99 Acres & 243 Ft Of Waterfront On The Muskoka River. 3,500 Linear Feet Of Durable Shou Sugi Ban Siding. Impressive Open Concept W. 5 Beds, 4 Baths & Over 4,800 Sq. Ft. Of Finished Space. Gourmet Kitchen: 6 Burner Wolf Stove, Sub-Zero Fridge/Freezer, Bonus Island Sink, & Wet Bar That Is Hooked Up W. A Beer Tap! Butler’s Pantry, 2nd Fridge & Mudroom. Screened Muskoka Room! Cozy Woodburning Fireplace. High-Speed Internet. Radiant In-Floor Heat In House & Garage. A/C In Every Zone. Gorgeous Views Of The River! Potential In-Law Suite. Entertainment Zone W. A 2nd Wet Bar, Enjoy Musical Interludes, Comfy Couches & Big Screens! Cedar Lined Sauna & Sliding Doors To The Hot Tub. Private Trails To The River And Your Dock. Perfect In-Town, Or Getaway Retreat. Exclusive Area-Only 2 Neighbours. Life On The River Is Waiting For You!
Click here for property listing details


4209 MUSKOKA ROAD 117 Unit #3, Lake Of Bays, Ontario P0B 1A0
$ 1,488,000 | MLS# 40363391

Beautiful, elevated sunset views over Lake of Bays can be enjoyed all year-round from nearly every room in this Muskoka cottage. Great privacy considering 102 feet of frontage and panoramic views from your dock. Fully winterized, equipped with a high-efficiency heat pump, forced air, new sauna, plus a generator, this retreat provides the comforts to make your vacation feel just like home. The open concept design is perfect for entertaining, and the incredible wood accents throughout create a feeling of warmth and charm, while several updates, including bathrooms, appliances, steam shower, and composite decking, allow you to experience the comforts of home. The lower level hosts the sleeping quarters offering 2 bedrooms with walkouts to the spacious lakeside deck, plus an additional bedroom. To destress and unwind, escape to the sauna on the lower level, or step down to the lakeside to revel in the landscapes of Muskoka from your dock. Enjoy swimming, fishing, lounging, or spend the day touring one of the region’s largest and most desirable lakes. Just a short 10-minute drive to both Baysville and Dorset, you’re close to shopping, dining, and endless recreational opportunities that can be found nearby in every season.
Click here for property listing details


1869 MUSKOKA ROAD 118 W, Muskoka Lakes, Ontario P1L 1W8
$ 772,000 | MLS# 40362554

Invest in (life)style. This income producing property allows you the best of both worlds. Enjoy all that enviable Lake Muskoka offers while having this investment opportunity carry some or all of your costs. Just outside of Bracebridge on Lake Muskoka is this incredible opportunity for resort living. This unique and highly desired unit offers 2 bedrooms and 2 full baths with a lock off option. Enjoy yourself and all the amenities on one side while renting out the other side of this income producing suite! Spend the day at the pool, at the beach, or on the massive lakeside dock. Play a round of tennis or get a massage at the spa, then dine in the gourmet restaurant on site or prepare a meal in your own full kitchen. Sweeping, endless lake views will be enjoyed on your private double sized balcony overlooking the lake. Enjoy lakeside living at its best in your private residence at Touchstone Resort. All this a short drive from the GTA. Call for further details and to view this incredible opportunity.
Click here for property listing details


Price Reductions – Click here
Pending – Click here


$595,000 – $1,099,000 – Click here
$1,100,000 – $1,999,000 – Click here
$2,000,000 – $4,999,000 – Click here
$5,000,000+* – Click here

*no new listings since 12/08/22, 3 current listings

Ross McLean, Broker
RE/MAX Hallmark in Muskoka