Firstly, PLEASE be careful about what media says about the real estate market. Fear-mongering is big business, people actually benefit from providing scary reports. It is important to speak to someone in the vicinity of where you are selling or planning to purchase. Every region, community, lake, price range, has it's own market. What is happening in Toronto or Vancouver has no bearing on what is happening in a small town, or Central or Northern Ontario.
Even each Cottage Country has a different market (such as The Kawarthas, The Highlands, or Muskoka). Your price range also has a huge impact on market trends. Where is the bulk of buyers for a cottage - $250,000 to $300,000? $400,000 to $500,000?
So down to business - The Highlands! 2011 and 2012 were not the best. Media was reporting tough times, and Buyers came looking for deals. Sellers were not willing to drop their prices, therefore many deals were written, but not that many came together. Last year our market settled down. Prices were not gaining, they were staying steady. This is good news for both the Buyer and the Seller - a balanced market. This year it looks like there will be some small gains in values, but nothing to make Buyers nervous. This again results in lots of sales.
In May 2014 our board saw 1,423 listings on the market, the highest number in the past 3 years, with the most sales happening in August - 511. This is a slight increase from 2013 with 505 sales in August, and a bigger increase from August 2012 of 426. Since May of 2014, each month's statistics show increased sales and listings from the previous year. It is a healthy market!
If a property is priced correctly - it will sell. That's the bottom line!
The Highlands offers a variety of recreational options, from the first-time cottager looking for something on a back road, or close to lake, under $100,000, to direct waterfront at every price range. Our luxury market continues to grow each year, with cottages on the market at $800,000 to $2-3 million.
Thinking of moving to the Highlands? The Residential market, too, is on the rise. Minden and Haliburton are both seeing growth. Minden just received a Dairy Queen, last year received a Canadian Tire, and there are rumours of more. Haliburton just got a Tim Horton's (yes - I said it -- and you thought everyone already had one!). The social groups, activities and culture of the area is very strong. Buyers are looking for that combination of wanting to simplify their life, reduce their expenses, and still have convenience. Of course, growth in residential properties means growth in business....everyone wins!
Can't wait to see what 2015 brings!
