9:37 AM Mar 6, 2023
Sixty-nine properties traded hands last month in the Lakelands — which spans Muskoka, Haliburton, Orillia, Parry Sound, and Southern Georgian Bay — according to notes that for Muskoka waterfront properties in particular, “the correction really came into full bloom in January and February of 2023.” Just 20 sales took place in February for waterfront properties in the Lakelands North region, with the total dollar volume coming out to $19,390,800 in February — a staggering 72.3% drop from one year prior.
Factoring January sales, however, Halloran says the statistics “further support the bottoming out of the year’s correction.” Although the number of waterfront Muskoka property sales remained relatively unchanged — 21 in January compared to 20 in February — the average price inched from $938,739 in January up to $969,540 in February.All signs are pointing to a shift towards more balance for the Muskoka waterfront market, Halloran says.
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