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Parry Sound Real Estate 2021 Review

Lake Joseph near Parry sound

Real Estate Summary for 2021

The Parry Sound real estate market was, like the rest of Ontario, record setting in 2021. Prices for cottages, lots and homes continued to climb throughout the year with the perfect storm of incredible demand and low inventories. Multiple offers, once a rare occurrence, are now the norm with selling prices well above asking on many properties.

Waterfront cottages

Larger Parry Sound area waterways like Lake Joseph, Whitefish Lake and Manitouwabing lead the charge early in the year but as the number of lakefront listings dried up people focused their attention on smaller and mid-sized lakes. Buyers were also were also willing to travel farther than in years past pushing waterfront real estate values in the Magnetawan, Burk’s Falls and Kearney areas to record setting levels. Although buyers came in all ages, one recurring theme was that they eventually wanted to retire to their cottage. This created several “must-haves” for this demographic which included year-round access, good internet service and proximity to larger centres for shopping & medical care. 

Parry Sound Cottage Sales by Area

 

  • Magnetawan –  including Ahmic, Cecebe, Whalley, Horn & Crawford lakes – 35
  • Seguin – including Big Whitefish, Clear, Joseph, Otter & Horseshoe lakes – 92
  • Kearney – including Sand, Mason, Island, Grass & Loon lakes – 23
  • Parry Sound – Georgian Bay – 34 cottages & waterfront homes
  • Burks Falls – including Jack, Pickerel, Big Doe & Three Mile lakes – 6
  • McDougall –  including Mill, Trout, Harris, Long & Lorimer lakes – 20
  • McKellar – including Manitouwabing, Lorimer and Limestone lakes – 25
  • The Archipelago –  including Georgian Bay – 56
  • Sundridge – including Lake Bernard – 3

Residential Properties

 

Houses were also in short supply throughout 2021 with listing numbers very low in every area. Homes with acreages were even harder to purchase with many listings selling for well over asking. The days on market were very low reflecting the mindset of people searching for a new home. As home prices continued to climb in southern Ontario buyers set their sites north looking for a more affordable alternative.

Parry Sound Home Sales by Area

 

  • Magnetawan – 17
  • Seguin – 33
  • Kearney – 10
  • Parry Sound ( in town) – 92
  • Burk’s Falls – 20
  • McDougall – 26
  • McKellar – 8
  • The Archipelago – 2
  • Sundridge – 38

Strong Market Conditions

In total, the Parry Sound region saw a total of 527 cottages and vacant waterfront sold this year along with 574 homes on the Lakelands Real Estate Board. All indications point to very low listing numbers for spring 2022 on both homes and cottages which in turn may put even more pressure on an already strained market. Covid appears to have accelerated many buyers plans to purchase a recreation property in the Muskoka Parry Sound area so that, along with those ultra-low listing may just create the perfect storm.

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