Property
Property
Lake Manitouwabing Real Estate | Summer 2023
In the Parry Sound district, Lake Manitouwabing has always been one of the most popular lakes to purchase a cottage. Demand intensified during the pandemic and remains strong, particularly for year round lake homes as the "working from home" trend entrenched. Starlink has made high-speed internet challenges a thing of the past broadening the scope of potential workable properties.
As you can see in the charts below, total cottages sales have been substantially lower in the last year. This has been driven primarily by lack of supply and higher carrying cost from higher interest rates. As the supply side loosens up and more properties come to market I suspect sales will increase in lock-step.
Historic Sales Numbers on Lake Manitouwabing
Historic Cottage Listings on Lake Manitouwabing
Cottage prices have come down just over 7% from their highs early in 2022 and I suspect they have a bit more to go. If the trend follows the Muskoka market, higher end waterfront seems to be holding up better than lower priced properties. There is not enough data on Lake Manitouwabing to see actually pin a trend but to me it just makes sense. Generally people buying a cottage north of $2,000,000 are not those going hat in hand to the bank for financing.
Historic Average Cottage & Vacant Lot Prices
Total Dollar Value of Waterfront Sales
If you're interested in waterfront property on Manitouwabing give us a call, we would love to help. We can provide you with up-to-date statistics on the overall market that are vital whether you are buying or selling. Questions? You can call or text @ 705 783 7718.
