The Cottage Country Team, one of Haliburton’s top real estate teams, discusses year over year trends and what they predict to see in this coming summer season.
HALIBURTON, ONTARIO, CANADA – Chestnut Park’s Cottage Country Team, one of Haliburton’s top waterfront recreational real estate teams, pays close attention to year over year trends in the cottage country market so that they can better prepare themselves for the upcoming selling season. There are a lot of factors that come into play when determining the state of the recreational real estate market. These can include current provincial and national economies, volume of units being sold, and even the weather can play a part in whether or not people are looking to buy a vacation home for the upcoming tear. The biggest factor though is often the historical trend of cottage sales.
Over the past few years there has been quite a large swing in the Haliburton recreational real estate market. In terms of how many cottages are being sold, going back almost ten years, we see an almost cyclical pattern in which there are two back to back years in which the amount sold goes up, then followed by a year of lower volume. “In both 2015 and 2016 we saw years of increasing numbers of cottages sold in the Haliburton area,” states Rob Serediuk of The Cottage Country Team, “And then in 2017, the Spring market was crazy mirroring what was going on in Toronto, but just like in Toronto we saw a slow down right after mid June.
The weather cottage country has endured for the first 4 months of 2018 has caused a dramatic slow down in the market. “ With snow and ice storms every weekend in March and even for the first 3 weeks of April, Sellers weren’t listing and Buyers were not coming up because of lack of good inventory,” says Serediuk, “ it remains to be seen how much inventory we will see come on the market but we have tons of Buyers who are eager and ready to buy – more so than any other year so bring on the listings.”
When it comes to the average cost of properties sold in Haliburton, that trend follows a different pattern. “While the number of cottages sold seems to follow an up, up, down pattern, the price of cottages sold in Haliburton more or less just continues to go up,” says Serediuk, “Over the past four or so years we’ve seen generally a steady increase in the average price of cottages sold. As a matter of fact, last year due to the drop in volume of sales, we saw quite a large jump in the average sale price.”
Rob Serediuk and his team take the patterns that they see in the previous years, coupled with current political and economic behaviours to make their seasonal predictions.
“Based on what we’ve seen over the past three years, it looks like the upcoming 2018 season we’ll see an increase in properties sold, with a slight increase in the average property sale price.” Predicted Rob.
About the Cottage Country Team: Whether you are looking to buy or sell a property in Muskoka or Haliburton, you can rely on the Cottage Country Team of Chestnut Park Real Estate Limited, Brokerage to go that extra mile to ensure your complete satisfaction. Seasoned real estate professionals, sales representatives Greg McInnis and Rob Serediuk, and broker Shirley Rule have a proven track record of successfully marketing and selling Haliburton and Muskoka real estate, including estate and waterfront homes, executive cottages, and luxury lakefront properties. They also work closely with buyers to help them find the perfect cottage country property or Ontario vacation home. The Chestnut Park Cottage Country Team has the dedication, drive, and experience to deliver the best results. For more information, visit their website www.cottagecountryteam.com or drop by their office at 4490 Kennisis Lake Road, Haliburton. To arrange an appointment, call 705 754-0880, or email email@example.com.