Parry Sound Real Estate Cottage Trends The waterfront real estate market in the Parry Sound area has continued to be muted this year with unit sales running well below historical averages. Similar to trends seen in Muskoka, the Parry Sound market tells a tale of two segments. Since the market’s peak in 2021, the number of cottages sold in the Parry Sound region has dropped dramatically. For properties priced over $2,000,000, sales have declined by approximately 40%, while cottages in lower price brackets have seen a sharper decline of about 60%. New waterfront listings are at their highest levels since spring 2021, signaling increased activity from sellers. The total number of cottages for sale has doubled compared to 2022, with a 12-month rolling average now exceeding 200 active listings. Inventory on the Rise This increased inventory comes with notable price adjustments, as sellers navigate the realities of today’s buyer-driven market. Many properties have seen price reductions, reflecting the widening gap between seller expectations and buyer willingness. Market Dynamics: Pricing Trends One of the most telling statistics in the current market is the average percentage of the original listing price achieved in sales. In 2022, properties sold for an average of 105% of their listing price, often amid competitive bidding wars. Today, that figure has dropped to 93%, signaling a return to more historically market conditions.… As the cottage selling season kicks into high gear across Ontario, distinct trends are unfolding, particularly in the picturesque Parry Sound area. In line with our projections outlined in last year's Parry Sound Real estate forecast, waterfront listings are steadily gaining momentum throughout the region. From a low point in… M.L.S # 40572947 Seldom does a rare combination of this nature become available to those who seek an opportunity to own considerable acreage, directly adjacent to crown land. This package includes a large home, as well as a massive shop with 2 additional apartments. The property is located on a… The snow has melted, the ice is off the lakes and the spring cottage selling season is in full swing throughout cottage country. The trends in waterfront properties that were emerging last year have continued and in some cases intensified. We wrote an article over a year ago about Parry… *** Sale Pending *** Architecturally designed to be enhanced by the natural surroundings and to capture the ambient light this stunning, Contemporary Victorian, waterfront home is both luxurious and elegant. Built in 2018, this timeless beauty sits regally on the tranquil shores of the Shadow River, allowing direct access to… **** JUST SOLD **** Beautifully designed and professionally built by Timber Kings, this natural, full scribe Pioneer log home rests amongst the trees on popular Mill Lake, just a short distance from the town of Parry Sound. A welcoming and private front porch graces the full width of this home,… The latest statistics from The Lakelands Association of Realtors® for January 2024 are out, shedding light on the current state of real estate in Parry Sound. While it's important to note that the first quarter typically sees slower activity in both home and cottage sales, the data hints at evolving… Every year in Ontario over 3000 waterfront properties are sold which is a staggering number considering the average sale price is just north of $1,000,000. I've been in the business a long time and it never ceases to amaze me how many people will seemingly give less thought to a… The Lakelands Association of Realtors® has released comprehensive data for 2023, encompassing both waterfront and residential properties. Specific figures for the Parry Sound region, including detailed statistics are now available. The market scenario remains distinctly characterized by two segments, particularly evident in the Parry Sound cottage market. As highlighted in… Lake Manitouwabing had 16 cottage sales in 2023 on the Lakelands Real Estate Board, up from in just 9 in 2022. They ranged in price from $442,000 to $2,775,000 with the average price for the year coming in at $1,145,250. The Parry Sound real estate market peaked in late 2021… In November 2023, the MLS® System recorded 256 residential non-waterfront sales in the Lakelands region, marking a significant 17.2% decrease from the corresponding period in 2022. The sales activity for residential non-waterfront properties stood at 35.7% below the five-year average and 36.9% below the 10-year average for the month of… THE SNOW HAS ARRIVED AND THE TRAILS ARE CALLING! Is anyone else super pumped that the snow is on the ground and some of our favourite cross country ski trails are open even before the chubby guy in the red suit makes his appearance ? Winter has arrived here in… Several weeks ago, I penned an article delving into the Parry Sound cottage real estate market. My motivation was simple-I wanted to empower clients with data, allowing them to make decisions grounded in reality rather than emotion. The realm of buying or selling a cottage often becomes an emotional journey;…JUST ADDED
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