Hi there, as I’m sure you’re no doubt aware, the market has shifted a bit from the unsustainable market it has been in (which is a good thing!). I have been sending you properties reflecting price changes and it would appear some sellers are more amenable to the good ole days of “negotiating”. Sellers during these uncertain markets are more likely to engage in negotiating because they too don’t know where the market will level off and the likelihood of achieving a better sale price during this market is likely to be in the mutual best interest of both the buyers and the sellers.
So I’d like to encourage you that instead of waiting to see where the market levels off, to begin to view properties of interest and negotiate. This may give you an advantage over the other buyers that will likely again compete in the future by “waiting it out”.
Muskoka will always be a desirable market to be in and as always, “timing is everything”!
As always, happy to chat with you.
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Real Estate Market Update | Muskoka, January-April 2022
Many of the themes that first emerged in the Muskoka and Region recreational marketplace during the pandemic are still in play during the first third of 2022. Average sale prices continue to rise, days on market remain exceptionally low, and the sale to list price ratio is behaving like a busy urban market. Prior to the pandemic, even during the most robust markets, the sale to list price ratio never exceed 98 percent. During the first four months of 2022 the sale to list price ratio came in at 106.6 percent, which means that all waterfront properties reported sold during the period sold (on average) for 106.6 percent of their asking price.
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Muskoka Living | Beardmore Tannery
Largely now a relic of the past, the tannery was once a hub of economic prosperity for many northern Ontario communities and Muskoka was no exception. The first of Bracebridge’s tanneries was the Beardmore Tanning Company, which was locally known as the “old” tannery and was established along the Muskoka River in Bracebridge in 1877.