We expect the introduction of tighter mortgage rules in effect in January 2018 to cool the housing market slightly, more urban buyers will look to Muskoka for a four-season cottage to live in year-round as they are priced out of GTA.

There is already a sizable market segment living here which works remotely, and with companies more open to flexible working solutions, it will continue to pave the way to a steadier migration from Toronto to Muskoka.

Buyers today are becoming savvier and understand the value of potentially saving tens of thousands of dollars by purchasing here and not being hit with a double land transfer tax in Toronto. Why not? Especially when our region is viewed as a great investment because of the associated lifestyle. Dollar for dollar the value of people’s hard-earned money simply goes further here, the dream of detached home ownership is more attainable. Our members are very excited about The Muskoka Airport feasibility proposal, adding daily flights to and from Toronto would open a potential new residential market.

In 2018, many homeowners that once favoured super-low-rate variable mortgages, will likely return to the five-year closed mortgage in response to the rising interest rates of 1 per cent.

We are seeing more winter activity and earlier spring buying to snap up cottages for the first long weekend in May. Our market is expected to continue to be strong with brisk sales early in the season, adjusting to steady sales throughout the summer and fall. Multiple offers can be expected on properties that are in good condition and properly priced.

Buyers’ want lists are becoming more nuanced, with less expectation of the typical western exposure with gentle slope to water, and large frontage.

Parry Sound Muskoka Haliburton Orillia — The Lakelands Association of REALTORS® is a not-for-profit professional association representing over 770 local REALTOR® members. Our members serve both residential and commercial real estate in the heart of Ontario’s cottage country. The region, known worldwide for its lakes and forests, is home to both larger cities and smaller vibrant communities. It’s home to a thriving tourism industry and a growing telecommuter base for the Greater Toronto Area.

“Many clients are getting referrals from their favourite realtor in the city to a Muskoka realtor, and are understanding the value of using a local realtor who know cottage country firsthand,” said Mike Stahls president of The Lakelands Association of REALTORS®.