Market
Market
Lake Manitouwabing Real Estate | Summer 2024
Lake Manitouwabing has always been a popular area for cottaging in Parry Sound. Starting in May 2020, the real estate market here experienced a significant surge, with sales volumes and prices rising sharply until they peaked in May 2021. Since then, as shown in the chart to the right, cottage sales have steadily declined, falling from historic highs to lows in under three years. This trend is seen not only on Lake Manitouwabing but also throughout Parry Sound and across Ontario. For a detailed analysis, please see our complete Ontario cottage market report here.
Price Trends
The price chart below should be viewed cautiously. Like Georgian Bay, the luxury real estate market around Lake Manitouwabing has remained relatively stable, which skews the average and median prices. We define the luxury segment in Parry Sound as cottages over $2,000,000. Additionally, the low number of sales affects the reliability of these charts. For example, only 19 waterfront cottages were sold on Lake Manitouwabing through the Lakelands Real Estate Board in 2023, providing a very small data set.
Despite these fluctuations, Lake Manitouwabing remains a desirable location for cottage buyers. Understanding these market trends is essential whether you are buying or selling. We're here to provide the latest insights and help you navigate the Parry Sound real estate market.
