This should be invisible

Muskoka real estate

Home prices in Ontario's cottage country are expected to rise nearly $60K in 2023

The average home price in Ontario's cottage country is expected to rise by nearly $60,000 in the coming year.

According to RE/MAX Canada's Muskoka Housing Market Outlook 2023, the average home price in the region will rise to $795,378.96 next year, an eight per cent increase from the $736,430.00 average experienced between January 1, 2022 and October 31, 2022.

Home sales in Muskoka are expected to increase by five per cent in 2023, keeping the region firmly in a seller's market throughout the coming year. RE/MAX Canada noted that the conditions will be most apparent in the top half of the market.

In addition to Muskoka, only seven other Ontario markets are expected to favour the seller in 2023, including Sudbury, Haliburton, Ottawa, and the Kawarthas.

Muskoka real estate

Image via RE/MAX Canada.

The top trends affecting Muskoka's housing market in 2023 include rural homes with access to strong internet, and homes with in-law suites for income potential.

While home prices in Muskoka are on the rise, they're falling elsewhere across Canada, including in the City of Toronto.

According to RE/MAX Canada's report, the average residential sale prices will fall by 3.3 per cent in 2023 as the market regains its balance.

Elton Ash, Executive Vice President of RE/MAX Canada, noted that market activity is expected to return to a "more-regular pace," in the second half of 2023 as economic conditions stabilize.

Lead photo by

Roozbeh Rokni

Join the conversation Load comments

Latest in Real Estate

Toronto university could be getting a stunning new building with floating glass boxes

Markham is getting a breathtaking building unlike anything it's seen before

Home near Jane and Finch in Toronto goes for $100K over asking after bidding war

Toronto's real estate market is looking as cold as the weather right now

The price of this $3.4 million Toronto house has more than doubled in just five years

One-of-a-kind $6.6 million Toronto 'Ravine House' mixes modern with nature

More than 12K Airbnb rentals in Toronto are said to be exploiting a legal loophole

Toronto building home to historic pub to be converted into new hotel