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

Latest Videos

Latest Videos

Join the conversation Load comments

Latest in Real Estate

Enormous condo tower proposed to rise 65 storeys above popular Toronto park

House in Vaughan sold at massive $800k loss after sitting on market for over 200 days

Ontario landlord posts ad charging $500 for tent space in private encampment

This small Toronto bungalow costs $13.5M because of its prestigious location

People want Toronto to force Rogers off its land and build homes instead

This is the first time in 50 years this Toronto multiplex has been on the market

Airbnb hosts in Toronto are instructing guests to lie about stays

Toronto TikToker doesn't want to be 'privileged piece of s**t' but is being called just that