Q1 Market Report – Muskoka Residential
Posted by Royal LePage Lakes of Muskoka on
Although Q1 typically represents only about 15% of annual activity in the Muskoka residential market, it often sets the tone for the rest of the year. This year, those signals are worth paying attention to.
Despite another significant winter, residential activity held largely consistent with the past three years, still below pandemic peaks, but given the conditions, that consistency is worth noting.
The market has become unforgiving of overpricing, and that makes an honest comparative market analysis the first and most important step in any listing. During the pandemic, urgency and cheap money did the heavy lifting. Buyers moved fast and paid up. Today, buyers are patient and restricted by rates, and price gives a property its fighting chance.
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