Muskoka Market Update May 2023

May 2023 data illustrates a downward shift in the volume of residential non-waterfront sales in the Lakelands region, amounting to 508 units, a decrease of 33.9% from the same period in the preceding year. In a parallel trend, waterfront properties saw a decrease in transactions, with 150 units changing hands in May 2022, showcasing a 44.9% drop compared to the previous year’s figures. The restrained supply and moderating buyer demand contribute to a decline in the number of transactions. Although there has been a downturn in sales activity compared to the record highs seen last May, the market is becoming increasingly vibrant with the entry of new listings. Aspiring cottage buyers should be aware of the current market climate. The competition may be simmering down, but prices remain strong.