The Parry Sound real estate market has seen a significant shift, with home and cottage sales hitting multi-year lows as we move into the fourth quarter of 2024. Following a peak in mid-2021, demand has steadily declined due to a combination of factors including high interest rates, the foreign buyers’ tax, and the rising cost of living. Simultaneously, the number of real estate listings for both residential and waterfront properties has more than doubled. This surge in supply has dramatically altered the market dynamics, shifting from a modest sellers’ market to a strong buyers’ market in a very short time. This trend isn’t isolated to Parry Sound; it’s a pattern observed across Ontario. The current inventory of waterfront cottages is nearly a 12-month supply-a staggering figure. For the market to return to a balanced state, or even to a sellers’ market, several factors will need to align, with interest rates being a key element. Parry Sound Home Sales Homes for Sale 2021 – Present | All Price Ranges Parry Sound Cottage Sales Cottages for Sale 2021 – Present | All Price Ranges Resilience in the Luxury Market? An intriguing trend in the Parry Sound region involves luxury properties-those priced at $3,000,000 or more. While luxury real estate in Muskoka and other parts of Ontario has remained relatively resilient, Parry Sound has seen a different pattern.… 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;… When we are walking through a property to list a common question is "how many cottages have sold on our lake this year?" and "how does it compare to other lakes?". To this end we have compiled a comprehensive list of Parry Sound area lakes with sales numbers going back… In October 2023, residential non-waterfront sales in the Lakelands region, as reported through the MLS® System, reached a total of 307 units, marking a significant decline of 16.3% compared to the corresponding period in 2022. These sales were notably 40.6% below both the five-year and 10-year averages for the month…JUST ADDED
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