A report indicates that Ontario's cottage country real estate market is stagnating, with properties sitting longer and prices declining in some areas (up to 20.3% since 2024) due to economic uncertainty and eased pandemic-era demand. While 40% of regions may see further declines, 60% expect price rises. Royal LePage and RE/MAX note a return to typical year-over-year growth after a surge from 2021-2023.
Ontario’s cottage country real estate market may be stagnating. Are you finding your property difficult to sell?
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TL;DR: Key points with love ❤️A report indicates that Ontario's cottage country real estate market is stagnating, with properties sitting longer and prices declining in some areas (up to 20.3% since 2024) due to economic uncertainty and eased pandemic-era demand. While 40% of regions may see further declines, 60% expect price rises. Royal LePage and RE/MAX note a return to typical year-over-year growth after a surge from 2021-2023.
Trending- 1 2021 to 2023: Demand for cottages surged, driving prices to record highs.
- 2 2023: Weighted median price for single-family homes was $640,700, condos $468,900.
- 3 2024: Prices in some areas declined by up to 20.3% since this year.
- 4 March (unspecified year, likely 2025): Royal LePage published analysis forecasting market.
- 5 2025: Recreational property values settled slightly below peak; single-family homes forecast to rise by 1%; recreational homes across Canada forecast to rise by 1.8%.
- Properties sitting longer on the market
- Price declines in some areas (up to 20.3%)
- Potential further price declines in 40% of regions
- Decreased investment potential perception
- Financial struggles for some buyers
What: Stagnation and potential decline in Ontario's cottage country real estate market, with properties taking longer to sell and some price drops.
When: Published March (Royal LePage analysis), since 2024 (price declines), 2025 season (settled prices), 2021 to 2023 (demand surge), 2025 (forecasted rise).
Where: Ontario's cottage country, specifically Peterborough County, Orillia, Grand Bend, Niagara-on-the-Lake, Muskoka. Canada (for overall recreational home forecast).
Why: Economic uncertainty, easing of 'pandemic-era scramble' for vacation properties, increased inventory, and restrictions on short-term rentals.
How: Real estate companies (Royal LePage, RE/MAX) published analyses and forecasts based on market trends, inventory levels, and economic factors.