Like Ontario’s sun-deprived residents, Muskoka cottage sales suffered through a depressing spring
Word is that Canada is in for a long, hot summer, but so far southern Ontario has been forced to weather (guffaw) a prolonged grey and dreary spring. While the wet weather is a boon for some—grass comes to mind—it’s pretty depressing for the rest of us, including sun-loving Torontonians of all stripes and, apparently, cottage owners. It turns out that the cold, damp environs are making it difficult for those looking to sell their second home in Muskoka.
The Toronto Star has the story:
The weather has improved, but the spring market for cottages has been slower out the gate this year than last, report realtors.
[Long-time Muskoka lakes area realtor Anita] Latner estimates that her business is down about 40 per cent from last year.
That’s in line with what the Muskoka and Haliburton Association of Realtors is reporting. There were 131 units sold by mid-May compared with 206 units sold at the same time in 2010.
Of course, the weather isn’t the only factor. Last year, cottage sales improved with the country emerging from the recession and buyers looking to snap up properties before the HST applied to them. On the other hand, with sales down, it might be a good time to rent. According to moneyville.ca columnist Ellen Roseman, the increased variety and the ease of discovering new places (thanks to this great new thing called the Internet) make renting ever more appealing.
• Average Lake Muskoka cottage is $1.2m [Moneyville] • Roseman: Why renting cottages works for me [Moneyville]
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