March 2026 

Jay Richardson, Broker – The Richardson Team / Royal LePage Lakes of Muskoka

The following report summarizes MLS® waterfront market activity for March 2026 and year-to-date results across Huntsville, Lake of Bays, Muskoka Lakes, and Bracebridge. These statistics reflect changes in inventory levels, sales activity, pricing, and overall market balance, and provide useful guidance for buyers and sellers navigating the current Muskoka waterfront market.

Overall Market Direction

March 2026 waterfront activity across the four reporting areas reflects a market that continues to carry elevated inventory relative to sales, with months of supply well above balanced market conditions in most areas. A total of 13 waterfront sales were recorded across all four municipalities combined in March — three in Huntsville, three in Lake of Bays, five in Muskoka Lakes, and two in Bracebridge. While these are small absolute numbers, they are consistent with the low-volume environment that has characterized this market since mid-2022.

Months of inventory ranged from a low of 10.4 months in Muskoka Lakes to a high of 24.0 months in Huntsville, with Lake of Bays at 19.3 months and Bracebridge at 12.5 months. A balanced market is generally considered to be in the range of 4 to 6 months of supply, meaning all four areas remain firmly in buyers' market territory. New listings continued to flow into the market, with 31 new waterfront listings in Huntsville, 26 in Muskoka Lakes, 20 in Lake of Bays, and 16 in Bracebridge — keeping active inventory levels steady or slightly elevated compared to a year ago in most areas.

Average prices varied considerably across the region, reflecting both the mix of properties sold and the small sample sizes involved. Muskoka Lakes recorded the highest average sale price in March at $1,441,000, followed by Bracebridge at $1,155,500, Lake of Bays at $1,165,000, and Huntsville at $706,667. 

Sale-to-list price ratios were notably strong in Bracebridge at 99.4 and Huntsville at 98.6, while Muskoka Lakes came in at 91.1 and Lake of Bays at 92.7. 

Median days on market were longest in Huntsville at 122 days and shortest in Bracebridge at 30.5 days, though both figures reflect very small sample sizes and should be interpreted accordingly.

Overall, the March data reinforces a pattern of modest transaction volumes, adequate buyer choice, and pricing that rewards well-positioned properties while leaving overpriced listings to sit.

What This Means for Buyers

Buyers across all four Muskoka waterfront markets continue to benefit from conditions that favour careful, patient decision-making. Active listing levels remain elevated relative to sales in every area, and months of supply are well above balanced market thresholds — particularly in Huntsville at 24.0 months and Lake of Bays at 19.3 months year-to-date. 

These conditions mean that buyers generally have sufficient time to evaluate multiple properties, conduct thorough due diligence, and negotiate without the urgency that defined 2020 and 2021.

Sale-to-list ratios below 95% in Lake of Bays and Muskoka Lakes suggest that price negotiation remains part of the current transaction environment in those markets. Muskoka Lakes, with 10.4 months of supply in March, is the tightest of the four areas, and its year-to-date sales activity of 10 transactions is holding even with this time last year — which is worth noting as a relative point of stability. 

Buyers focusing on Muskoka Lakes premium waterfront should be prepared for somewhat less flexibility than in the higher-inventory areas. For buyers in Huntsville and Lake of Bays, the combination of high months of supply and longer median days on market provides a meaningful opportunity to compare properties carefully across a range of price points, shoreline types, and exposures. Well-priced properties are still transacting, but the current market does not penalise a thoughtful, methodical approach.

What This Means for Sellers

Sellers across the region are operating in a market where inventory levels remain elevated and monthly sales volumes are modest. With months of supply ranging from 10.4 to 24.0 months across the four areas, listings are generally accumulating faster than they are selling, and buyers are taking their time. This environment places significant weight on correct pricing and presentation from the outset.

The March data offers some instructive contrasts. In Huntsville, the median days on market reached 122 days for the month, and the year-to-date average price has declined meaningfully compared to 2025 — signalling that overpriced listings are being corrected either through price reductions or extended time on market. In Bracebridge, the two sales that did occur achieved a sale-to-list ratio of 99.4%, suggesting that properties priced in line with current market values can still transact efficiently and with very little discount. Muskoka Lakes also saw solid results relative to list price for properties that sold, with the year-to-date average price of $1,441,500 essentially flat compared to the same period in 2025.

The takeaway for sellers is consistent across all four markets: properties that are accurately priced based on current comparables, presented in strong condition, and positioned with quality marketing are still attracting buyers. Properties that enter the market above current demand levels are facing extended marketing periods and larger-than-necessary adjustments. In a market with this much inventory, first impressions and pricing discipline matter more than ever.

Professional Insight

Waterfront properties in Muskoka do not follow the same patterns as urban or suburban real estate. Shoreline quality, water depth, exposure, privacy, lot configuration, road access, and the overall character of the setting frequently have a greater influence on value than square footage or improvements alone. Because of this, regional statistics — while useful for understanding market direction — must always be interpreted alongside specific property-level knowledge and experience in waterfront sales.

Sample sizes across these four municipalities are inherently small, and a single high-value or lower-value sale can move averages and medians considerably from one month to the next. The March 2026 data is best read as a directional indicator rather than a precise pricing guide for any individual property.

If you are considering buying or selling waterfront property in Huntsville, Lake of Bays, Muskoka Lakes, or Bracebridge, a detailed, property-specific analysis will give a much clearer picture than general averages alone. I would be pleased to provide a confidential discussion about current market value, pricing strategy, or available opportunities in the North Muskoka and Lake of Bays area.

Statistics sourced from CREA and OnePoint Association of Realtors MLS® data. All figures reflect waterfront properties only. Due to small sample sizes, monthly averages should be interpreted with care.