Hello and happy spring!! Did we ever think it would come??
The Muskoka market has continued to be quite strong and for the most part still a “Seller’s Market”. Lack of inventory is the main culprit, to be sure. With more properties coming on in addition to rising rates, our hope is that it becomes a more balanced market or even a softer “Seller’s Market”. Sale prices have been very inconsistent…some properties sell for well above ask and some are selling for under asking price – so don’t be afraid to book showings with me as you never know where it will land. Interest in Muskoka will never wane but we could all see some balancing! If you like a more detailed market report full of stats, dive into the one below.
It’s still very important that before you book any showing with me that you have first had a conversation with your mortgage advisor so you know the buying power that you have. As always, if your criteria changes (which is noted on the listings I send you) please let me know.
You should also know that in early May you will see your listing portal change to something called OneHome. You will be getting more information when it launches but it will be very user friendly giving you a couple options of how you want to navigate your listings. It was a board initiative and will serve to better your search experience. The listings will still be coming from me…that won’t change…but the layout will look different and you have a couple options to choose from. I’m including more information below…
As always, reach out to me for anything and look forward to touring properties with you!
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Real Estate Market Update | Muskoka, January-December 2021
Like all real estate markets, 2021 was exceptional, defying all superlatives. Recreational markets were particularly robust, driven by buyer’s shifting priorities – the need for space, a sense of safety in a beautiful environment, and in the case of the luxury, high-end of the recreational market, particularly on Muskoka’s Big Lakes, the acquisition of luxury waterfront as a new asset class. With rapidly increasing prices, in some cases reaching stratospheric levels, acquiring a piece of high end recreational real estate makes a lot of economic sense, while at the same time allowing buyers to enjoy all the wonderful benefits that northern Ontario can offer. Looking forward to 2022, the looming question is – will there be enough inventory to meet the consumer’s new-found appetite for recreational property, and at what cost?
The Chestnut Park blog is updated with new posts daily. Topics include highlights of our most spectacular luxury properties, insightful monthly real estate reports, CIRE news, Chestnut Park news, real estate advice and interior design features.
Muskoka Living | Beardmore Tannery
Largely now a relic of the past, the tannery was once a hub of economic prosperity for many northern Ontario communities and Muskoka was no exception. The first of Bracebridge’s tanneries was the Beardmore Tanning Company, which was locally known as the “old” tannery and was established along the Muskoka River in Bracebridge in 1877.
