May 2021 Market Update
Sales of residential waterfront and non-waterfront properties posted one of the best May levels on record according to data from the Lakelands Association of Realtors with demand still outpacing supply. While more inventory is coming onto the market, inventory levels remain low. The month of May did see some moderating activity in demand and prices. According to the chair of the Canadian Real Estate Association, “More and more there is antecedent evidence of offer fatigue and frustration among buyers and the urgency to lock down a place to ride out Covid would also be expected to fade at this point given where we are in the pandemic.’
While the Muskoka waterfront market remains very active and prices remain strong, sellers are finding that in many cases, competitive offers are not happening. There has been a dampening of the buyer frenzy seen in the early part of the year as buyers appear to be focused on getting their activities back to “normal”.