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GTHA Buyers Seeking Relative Affordability

  • 5/26/2021 12:00:00 AM

Muskoka real estate is a sellers’ market, propelled by very low inventory that’s rendering days-on-market to a level that’s down by nearly 20 per cent compared to 2019. Young families are driving much of the demand for Muskoka cottages for sale, especially those from the GTA and Hamilton looking for more “home” for their budget, outside of the city. A notable trend in the region has been growing frustration among first-time homebuyers, due to market factors such as high asking prices, unconditional offer scenarios forcing many to drop out of their search, and take a wait-and-see approach in Muskoka’s market before re-engaging in the future. When it comes to the COVID-19 impact on Muskoka’s recreational property market, buyers from the city have been interested in the market because of its relative affordability and ample green space. Preferred features for recreational homes in the region include good Wi-Fi, beach nearby, office space, and acreage. Anticipated price growth for recreational properties in the Muskoka real estate market over the remainder of 2021 is an increase of +15% for waterfront and +20% for non-waterfront homes.

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