Haliburton cottage prices are on the rise, and for good reason. No longer considered “Ontario’s best kept secret” this sought-after cottage destination now has more cottages listed at over $1 million than ever before, solidifying its place as one of the most desired cottage destinations in all of Ontario.
Just two and a half hours north of Toronto, Haliburton offers waterfront cottages, a great arts community, breathtaking landscapes, and everything in between. And as more and more people continue to look to Haliburton for cottage properties, housing prices are facing a shift.
Here are a few reasons why.
Haliburton offers scenic views, quality lakes, Algonquin landscapes, an eclectic arts community, and more. From cottaging to canoeing to skiing to snowmobiling and everything in between, there is no doubting why Haliburton is steadily increasing in popularity in Ontario. With an economy dominated by tourism, Haliburton is also dominated by its thriving arts community: with galleries, studios, events, and public demonstrations occurring all year round. All of these factors (and more) are what make Haliburton a growing real estate hot spot.
Cottage Prices On The Rise
In the past, cottages in Haliburton over $500,000 were a rare sight to see. And when cottages were priced over $500,000, they would often stay on the market for months. Today, though, lakefront cottage prices are going up. In fact, the average sale price of a waterfront property between January and July of 2018 was $542,011.
Today, there are cottages listed on the market in Haliburton for over $1 million.
“We’ve seen large increases in Haliburton year over year for the average sale of a cottage, but I think what we’re going to see is it balance out. The reason we saw a large increase in the average sale price is because there were more higher-end sales and less lower-end sales,” says Rob Serediuk, sales representative with Chestnut Park Real Estate Ltd.
If you are considering buying property in Haliburton, you may want to keep your eye on the market. Despite the growing demand for cottages, experts suggest the market may balance out. This is primarily due to the fact that the increase in the average sale price was a result of more higher end sales and less lower end sales. According to experts, when the prices become more balanced, the values will correct themselves.
Contact Chestnut Park Cottage Country Team For All Your Real Estate Needs Today!
If you are considering selling or buying property in the Haliburton or Muskoka areas, Chestnut Park Cottage Country Team is here to help. We have the expertise and experience to help you meet all your real estate goals, and have in-depth knowledge of the real estate market in Haliburton and Muskoka areas. We help clients build marketing plans that help them sell their properties and also help clients get a fair price for the property they purchase. Contact us today to learn more and see how we can help you reach all your real estate goals.