October’s numbers confirm a steady, selectively active waterfront market across Bracebridge, Huntsville, Lake of Bays and Muskoka Lakes. Activity eased from September, but serious buyers are still touring with clear briefs and financing in hand. What has shifted is balance: Huntsville is offering the greatest choice (and negotiation space), Muskoka Lakes and Bracebridge are sitting in the middle as balanced-to–soft markets, while Lake of Bays shows tight supply on paper but behaves more like a low-turnover, quality-driven niche. In this month’s review, I focus on waterfront houses only, outline the key stats for each municipality, and translate the data into practical next steps for both sellers and buyers.Key Takeaways
• Overall activity eased slightly. Across the four municipalities there were 110 total sales in October (all property types), down from 124 in September. Huntsville again led in overall transactions (42), followed by Muskoka Lakes (33), Bracebridge (26) and Lake of Bays (9).• Waterfront pricing remains tiered. For waterfront houses only, Muskoka Lakes held the premium tier with an average sale price of $2,101,132, followed by Huntsville at $1,837,500, Lake of Bays at $1,467,833, and Bracebridge at $1,079,313.
• Supply conditions diverged. On paper, Lake of Bays shows the tightest supply with roughly 1.0 month of waterfront inventory, but in reality, it behaves more like a selective, low-turnover market where ultra-prime properties still need the right match. Huntsville, by contrast, carries 9.0 months of inventory on the water, giving buyers meaningful leverage. Muskoka Lakes (6.2 months) and Bracebridge (5.0 months) sit closer to balanced conditions.
• Benchmarks moved more decisively. House benchmark prices (all house locations) moved higher in Bracebridge ($695,200, +1.74% m/m), Huntsville ($683,300, +2.40% m/m) and Lake of Bays ($990,900, +2.73% m/m), while Muskoka Lakes eased back to $1,493,700 (−2.04% m/m).
Municipal Snapshots
LAKE OF BAYS
Ultra-prime, low-turnover waterfront remained tight, with serious buyers stepping up for the right property rather than chasing every new listing.
• Benchmark Price (all locations): $990,900 (+2.73% m/m)
• Sales Activity (All property types): 9 sales in October (vs 13 in September)
• Highlights (Waterfront Only):
o Average sale price: $1,467,833
o Sale-to-list price gap: around 1.6% below asking on average
o Waterfront sales count: 6 sales on the water
HUNTSVILLE
Huntsville remains the workhorse of the region: a strong lifestyle hub with meaningful choice on the lakes and a more negotiable tone to pricing.
• Benchmark Price (Houses – all locations): $683,300 (+2.40% m/m)
• Sales Activity (All property types): 42 sales in October (down from 49 in September)
• Highlights (Waterfront Only):
o Average sale price: $1,837,500
o Sale-to-list price gap: around 4.0% below asking on average
o Waterfront sales count: 10 sales on the water
MUSKOKA LAKES
The premium tier for trophy cottages remained active, although softer on price than in September, with buyers pushing harder on negotiation.
• Benchmark Price (Houses – all locations): $1,493,700 (−2.04% m/m)
• Sales Activity (All property types): 33 sales in October (up from 26 in September)
• Highlights (Waterfront Only):
o Average sale price: $2,101,132
o Sale-to-list price gap: around 6.0% below asking on average
o Waterfront sales count: 19 sales on the water
BRACEBRIDGE
Bracebridge continues to offer the most accessible waterfront pricing in this group, with balanced conditions and realistic sellers still achieving strong outcomes.
• Benchmark Price (Houses – all locations): $695,200 (+1.74% m/m)
• Sales Activity (All property types): 26 sales in October (vs 36 in September)
• Highlights (Waterfront Only):
o Average sale price: $1,079,313
o Sale-to-list price gap: around 1.5% below asking on average
o Waterfront sales count: 8 sales on the water
What This Means for Buyers
This remains a favourable but nuanced environment for well-prepared waterfront buyers.• In Huntsville, higher months of inventory and longer marketing times provide real scope to negotiate—particularly on cottages that have sat on the market or need updating.
• Muskoka Lakes still commands premium pricing, but October’s larger sale-to-list price gap shows that even trophy properties are not immune to negotiation when list prices overshoot.
• On Lake of Bays, the stats show low inventory, but the feel on the ground is of a careful, quality-driven market: the right property can move briskly, yet ultra-prime listings still require time to find their match. Being organised and clear on your brief remains essential.
• Bracebridge offers a pragmatic path into true waterfront ownership with more approachable price points and balanced conditions.
In practical terms, buyers should:
• Line up financing early and be ready to move on best-in-class opportunities.• Focus due diligence on shoreline, septic, access and zoning—key drivers of long-term enjoyment and value.
• Use the current data to benchmark fair value; in the softer sub-markets, there is room to negotiate both on price and terms.
What This Means for Sellers
October’s statistics reinforce a skills-based market where strategy and execution matter.• On Lake of Bays supply appears tight on paper, but buyers are highly discerning. Success hinges on evidence-based pricing and premium presentation, rather than assuming the market will lift all.
• In Huntsville higher waterfront inventory means your property must stand out through presentation, marketing and realistic pricing to avoid becoming “stale” and feeding into further discounting.
• Muskoka Lakes remains highly desirable, but buyers are price-sensitive at the top end. Precision pricing and a strong lifestyle narrative are essential to justify a premium.
• Bracebridge sellers benefit from balanced conditions; well-presented, accurately priced cottages are still trading within a reasonable marketing window.
Across all four municipalities, the playbook is consistent:
• Price with precision, based on current—not historic—data.• Invest in presentation: thoughtful staging, professional imagery, and a clear narrative that showcases privacy, exposure, water depth and long-term enjoyment.
• Anticipate negotiation and structure your terms to protect your interests while keeping qualified buyers engaged.
Overall Market Outlook
October underscored a selective, data-driven waterfront market across Muskoka. Detached waterfront remains the focus of committed buyers, but the balance between regions is shifting: Huntsville is offering the greatest choice and negotiation room, Muskoka Lakes and Bracebridge are sitting in balanced territory, and Lake of Bays is behaving as a low-turnover, quality-first market where best-in-class properties are still in demand.As we move further into early winter, activity typically becomes more purposeful rather than plentiful. Buyers touring now usually have a clear idea and a genuine intention to own for next season. Well-positioned properties—priced accurately and marketed professionally are still achieving strong results, while listings that simply “test the market” are seeing extended days on market and larger discounts.
If you’d like a tailored read on your own waterfront property—or a curated shortlist of on and off market opportunities that fit your plans—please reach out. I’m here to help you move forward with clarity and confidence.