In the early to mid 2000's it was a seller's market with not enough supply for the demand. In late 2008 when the stock markets crashed it quickly became a buyer's market and we saw a correction in price of between 10-15%. It only took a couple years for the prices to rebound back to pre-recession numbers.
Looking at the above chart you will notice that the primary waterfront markets, Muskoka Lakes and Lake of Bays are in a balanced market situation, where the demand equals the supply. In the towns of Huntsville, Bracebridge and Gravenhurst the residentail market remains balanced, but a buyer's market for the waterfront properties. Less demand for the lakes in these areas.
If you would like more detailed graphing for your area, or to schedule an appointment to discuss your property, call my cell anytime 705-788-4770 or email firstname.lastname@example.org
|Buyer's Market: The supply of homes on the market exceeds demand||High inventory of homes. Few buyers compared to availability. Homes on the market longer. Prices tend to drop.||More time to look for a home. More negotiating leverage.|
|Seller's Market: The number of buyer's wanting homes exceeds the supply or number of homes on the market.||Smaller Inventory of homes. Many buyers. Homes sell quickly. Prices usually increase.||May have to pay more. Make decisions quickly. Conditional offers may be rejected.|
|Balanced Market: The number of homes on the market is equal to the demand or number of buyers.||Demand equals supply. Sellers accept reasonable offers. Homes sell within an acceptable time period. Prices generally stable.||More relaxed atmosphere. Reasonable number of homes to choose from.|