Market
Market
Magnetawan Real Estate Trends | Summer 2024
The Magnetawan area is defying the real estate trends currently seen in most of Ontario's cottage country. A significant rebound in sales, particularly for waterfront properties, began in early 2024 and has persisted into the summer. When comparing Magnetawan to the broader Parry Sound region, it's clear that not all markets are moving in unison.
As demonstrated by the charts below, which are based on 12-month rolling averages, sales have been declining across the district since late 2021/early 2022. In contrast, Magnetawan has seen a steady rise in sales since late 2023. The demand for lakefront properties on Ahmic Lake and Lake Cecebe has been the primary driver of this trend.
It's important to note that many waterfront properties in Magnetawan are sold between families or "off market," so these figures only reflect listings sold through the M.L.S.® system via the Lakelands Association of Realtors®.
Year to date, there have been 24 properties sold in Magnetawan, including homes, cottages, and vacant land, 13 of which were waterfront. During the same period last year, there were only 16 sales, with 8 being waterfront cottages. This represents a 46% increase year over year, though the numbers are relatively low, making the increase statistically marginal.
Interest in the Magnetawan area has grown since property prices began to rise across Ontario in 2019. Buyers have discovered that they can get much more for their money if they are willing to drive a bit further north of Muskoka. Additionally, the excellent water quality of the lakes in the Magnetawan River system, sourced from deep within Algonquin Park, is a significant draw. This includes lakes such as Ahmic, Cecebe, Neighick, Midlothian, and Crawford.
Historic Magnetawan Property Sales
Magnetawan Median Sale Price
Historic Parry Sound Real Estate Sales
Parry Sound Median Sale Price
Real estate in the Magnetawan area has always marched to the beat of its own drum. While not immune to market fluctuations, prices tend to avoid the extreme swings seen in other markets. The number of property listings is also relatively low on a per capita basis compared to other areas in the Parry Sound district. Many cottages have remained in the same families since the properties were sold by the Crown over 100 years ago. Strict development regulations and the presence of the Magnetawan Watershed Land Trust attract eco-minded buyers.
If you're considering real estate in the Magnetawan area, give us a call. We would love to help.
Contact John Fincham, Broker @ 705 783 7718