The Town of Gravenhurst — also known as the Gateway to Muskoka — just announced it would implement a licensing program for the municipality’s coveted short-term rental properties.

The picture-perfect region is a popular choice for cottage-seeking vacationers with dollars to drop; that is, if they’re able to score a rental before it’s booked solid for the season due to off-the-charts demand.

The move to implement a licensing program comes following a November 16 council meeting after a report by Melissa Halford, director of development services, and a presentation by Jeff Loney, manager of economic development.

A year ago, Gravenhurst voted in an information campaign to better inform both renters and property owners of their rights and responsibilities so all-too-common short-term rental horror stories are avoided. Essentially, it educates both renters and property owners about local bylaws.

But many passionate local voices said the move simply wasn’t enough. Things like partying, fire concerns, and excess garbage are too often the reality in cottage country when it comes to bad apple short-term guests.

So, this past summer, the Town of Gravenhurst conducted a survey to gauge what people thought should be done about short-term rentals.

Of 343 respondents, 184 were in favour of educating renters and property owners; 91 were in favour of licensing short-term rentals; 92 were in favour of licensing short-term rentals and restricting their location; 70 were in favour of prohibiting short-term rentals; and 50 respondents were in favour of relying on existing bylaws.

Short-term rentals undoubtedly contribute to the local economy and ensure more people can discover and enjoy the pristine part of the province. But they’re just in need of a little fine tuning to protect all parties involved.

“Gravenhurst has taken a very positive step in managing some of the challenges that short-term rentals can present. As with most municipalities (and in fact cities and towns across the world), local governments have had to grapple with the significant change that short-term rentals have brought to their areas,” says Maryrose Coleman, co-founder and director of Muskoka District Rentals.

Muskoka District Rentals, a local staple when it comes to luxury cottage rentals, submitted a statement to the Town of Gravenhurst recommending licensing as a viable way to both manage rentals and help the township track those owners that are not being respectful.

“While the vast majority of owners and renter guests are respectful of the quiet enjoyment of the property and of their neighbours, there are always a few bad eggs who disrupt the neighbouring properties,” says Coleman. “This is most often with excessive noise and can be innocent as the fact that not everyone is aware of how sound not only travels but amplifies over water. Occasionally we have a less than respectful guest, or worse, an owner renting on their own with no concern for the neighbours, who is simply trying to ‘make a buck’ and gives renting a bad rap.”

The best route for buyers and renters is to use a trusted service to avoid both unnecessary headaches and rental scams.

“As a premiere luxury rental agency in cottage country, one of our primary goals is to ensure that guests have a wonderful time at their rental property while at the same time respecting the enjoyment of the lake for the neighbours. while at all times protecting our owner’s valuable real estate assets,” says Coleman.

“Our guests sign a contract that outlines the concept of respect for the quiet enjoyment of the lake and are also given copies of the Good Neighbours Code as well as the Safe Quiet Lakes Boaters Code. We ask our owners to let their neighbours know they will be renting with us and to give them our contact details in case they have any concerns. Happily the vast majority of the time we have happy owners, neighbours, and happy guests!”

As for the fate of the licensing program, the next steps include assessing costs associated with implementing the program, what information will be gathered, and if staff must be hired to help.

Gravenhurst won’t be the first cottage country region to make the move: both Lake of Bays and the Town of Huntsville have their own licensing programs for short-term rentals.

Click here for the original article.

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There’s a new reason to visit Ontario’s unforgettable Muskoka region (…and, one that actually makes it more affordable).

Adding to the enticement of exploring Ontario’s most picture-perfect spots, the provincial government just announced its plan for a staycation tax credit.

Anyone planning a getaway within the province in the 2022 tax year could be eligible for the “Ontario Staycation Tax Credit” program, which was announced as part of the Ford government’s Fall Economic Statement that was tabled last week.

Qualifying Ontario explorers will receive a 20% personal income tax credit on eligible accommodation between January 1 and December 1, 2022, up to a maximum of $1,000 for an individual and $2,000 for a family, for a maximum credit of $200 or $400 respectively.

With its glistening lakes, cozy fireplaces, painting-like sunsets, and fresh pine air, Muskoka provides a no-fail option for a quintessential Ontario escape. Renting a place in the the pristine part of the province for a short getaway to relax and refuel is the next best thing to buying in the region’s red-hot real estate market.

And there are no shortage of stunning rental cottages throughout Muskoka that are completely worth the splurge. Muskoka District Rentals offers a well curated selection of Muskoka’s finest rental properties. And business is booming, as demand soars like never before.

“With the onset of COVID 19 international travel restrictions introduced in early spring of 2020, we saw a major increase in demand for short term stay options in cottage country that would allow friends and family to more safely self-isolate together while enjoy[ing] nature and a lake life experience,” says Ross Halloran, Broker and Senior VP sales at Sotheby’s International Realty Canada’s Muskoka-based Halloran & Associates.

“This trend has continued throughout 2021, as a new market of cottagers have been introduced to lake country and want to further expand these experiences and incorporate them into their regular annual travel plans. This new Ontario staycation tax credit program will both reward and support patrons of these new local short term rental behaviours while ensuring that the associated tourist related revenues stay in Ontario to fuel the growth and prosperity of the local communities that serve these important lakeland regions, while helping to offset rentals costs to Ontario based guests.”

Maryrose Coleman of Muskoka District Rentals adds: “We can provide a great opportunity to take advantage of Ontario travel, support local tourism, and get a tax rebate.”

Click here for the full article.

The post Ontario’s Staycation Tax Credit Makes A Cottage Country Escape Even More Enticing appeared first on Muskoka411.

Written By: Nina Dragicevic – Storeys, Canadian Real Estate News Coverage.

Guests Gone Wild: The Cottage Country Edition — but instead of drunken antics, cottagers are high on rage.

A recent Guardian article exposed the result of lockdown-weary Britons unleashed into the countryside for holiday: bad behaviour, unreasonable demands, and traumatized service staff quitting their jobs. Adding insult to injury, these visitors left terrible reviews in their wake.

The article was emailed to Maryrose Coleman, co-founder and vice president of Muskoka District Rentals, by her daughter living in London. It immediately rang true — Coleman’s been living this new reality for two years now. The company manages luxury cottage rentals, a mostly upscale market but with some family-friendly options as well.

“It’s challenging because we were dealing with a lot of people who were renting that would ordinarily travel and couldn’t,” Coleman says. “And they weren’t used to cottaging. And so there was a different expectation. You know, they didn’t understand that at nine o’clock at night on a Saturday, it might be difficult for us to run something out to them. We tried to accommodate as best we can, but you know, it’s not a hotel.”

READ: OPP Warn of Cottage Rental Scam Ruining Would-Be Muskoka Vacations

Fussy guests might be expected in a high-end market but this is different, Coleman says: “People are just mean this year.”

One client demanded a new washer and dryer delivered to their property because they felt the appliances onsite weren’t large enough. Legal threats are suddenly a thing; guests want to stay for the full visit but have their money refunded, or they will sue. Cleaning staff or property maintenance personnel are facing verbal abuse — facing shouting, thrown linen, and being berated for issues outside their responsibility.

“I had one of my housekeepers in tears,” Coleman says. “The cleaner came out to speak to me and she burst into tears again. People were just so mean to her. In her own words she said, ‘You know I’ve worked for lots of people, and I’ve worked for lots of rich people, but people never treated me this way.’ And I don’t tolerate that kind of behaviour from anyone — human beings deserve to be treated with respect.”

Chloe Verner, manager of client services, works alongside Coleman in a client-facing role. Some guest complaints reach dramatic heights comparable to a “Shakespearean soliloquy,” she says.

Verner even witnessed a customer at the local Starbucks raging over the texture of coconut milk in their drink — it was curdling a little bit, which is normal for coconut milk, she says.

“I feel bad for the staff there, honestly,” Verner says. “I was like, I’ve been getting flack all summer. And now you guys are clearly getting it.”

It’s not all bad news: one recent happy ending involved a lost engagement ring found and returned by another guest. And some clients are always pleasant to deal with, Coleman says. Plus she’s sympathetic to the families expecting the post-pandemic vacation of a lifetime.

“Once you start unpacking what they’re talking about, you realize what’s probably happening is that they’re unhappy,” she says. “And they thought this was the trip that was going to save their marriage or make their kids love them more — whatever it might be. They take it out on us.”

“If there’s a customer service failure on our part, we deal with it,” she adds. “This is different. It’s almost as though people are so bent and frustrated by the pandemic.”

Verner says the informal chatter in the industry — she has acquaintances working in the Niagara tourism industry — is that pandemic guests are much more challenging.

“We’re all a little shell shocked that a global pandemic just suddenly reared its head,” Verner says. “But everybody that’s working in the service industry has been working the entire time. And they just hope that people kind of treat them like a human, to be perfectly honest.”

“We’re not frontline workers and hospitals, we’re not looking for that kind of sympathy,” Coleman says. “But we have been working crazy hours with reduced staff and just trying to do our best. And a little bit of human kindness goes a long way.”

Click Here for the full article.

The post “People Are Just Mean This Year”: Visitors Bringing Short Fuses, Bad Manners To Cottage Country appeared first on Muskoka411.

Anyone who knows Muskoka knows about the Big Three.

Lake Muskoka, Lake Rosseau, and Lake Joseph form the trifecta of water bodies that all luxury cottage-buyers are keen to purchase on. Refined, crisp, and coveted, these lakes — and the builds that look over them — come complete with a sense of lavishness.

But what if we told you there might be another? That the cottage country mecca’s Big Three may actually be… a Big Four?

A record-breaking sale on the beautiful Kahshe Lake hints at the possibility.

READ: Kahshe Lake Karma: Lakeside Modern Serves Daily Dose of Good Vibes

Listed in late July, 1026 Inchiquin Road hit the market hot, ready to serve up some Kahshe Lake Karma to one lucky buyer. After being on the market for less than two weeks, the property sold for $5,350,000 — a whopping $2.3M over Kahshe Lake’s next-highest sale (ever).

The modern-yet-traditional family compound stands on more than 6 acres, and is complete with 400 feet of south-west exposure shoreline.

The build itself spans 4,000 sq. ft., while the address is just a short drive from Gravenhurst’s town centre, where breweries, grocery shops, and family activities await. Really, Kahshe Lake is ideally-located. This home’s new owners will enjoy solitude, all while knowing that amenities and eats are just around the corner.

The property’s sprawling shoreline and incredible views considered, it’s unsurprising the beautiful abode broke a record with its sale. The address’ sights will be savoured both outdoors and in, thanks to floor-to-ceiling windows in the Great Room. Its long lake views, paired with a towering stone fireplace and open-concept floor plan, make this home’s central hub a coveted focal point.

Specs:

• Address: 1026 Inchiquin Road, Gravenhurst, ON
• Bedrooms: 5+3
• Bathrooms: 4+1
• Parking: 11
• Size: 4,000 sq. ft.
• Lot: 6.36 acres
• Listed By: Maryrose Coleman; Ross Halloran; Chloe Verner, Sotheby’s International Real Estate Canada

Add in the total of 8 bedrooms, 5 bathrooms, the chef’s kitchen, and the Muskoka porch, and this property could practically sell itself.

Except, of course, it didn’t.

Instead, the Halloran & Associates team at Sotheby’s International Real Estate Canada coordinated a synchronized multimedia campaign for 1026 Inchiquin, which included digital highway billboards, print and digital media ads, email blasts, and a social media blitz with promo reals running on Facebook, Instagram, and LinkedIn.

Alongside these initiatives, the property was put in front of prospective buyers via non-paid media and PR, plus printed brochures and feature sheets. A post-COVID-compliant agent provided open-house previews, while a stand-alone media microsite — complete with Aerial drone footage and stedicam property video — provided 3D VR tours, high-res photos, and digital floor plans.

All this is to say: A stunning home is always a benefit, but a strong team behind a property sale will really help secure that good karma. (That good Kahshe Lake karma, some might say.)

To swoon over this record-breaking sale — and to daydream about what your life could look like on Kahshe Lake — check out the property’s virtual tour below:

WELCOME TO 1026 INCHIQUIN ROAD

OUTDOOR FIREPLACE

WATERFRONT

PATIO

GREAT ROOM

KITCHEN AND DINING

MUSKOKA ROOM

BEDROOMS

BATHROOMS

LOWER LEVEL

BUNKIE

THANKS FOR VISITING

---

This article was produced in partnership with STOREYS Custom Studio.

Click Here for the full article

The post Muskoka’s ‘Big Four?’ Record-Breaking Sale Puts Kahshe Lake On The Map appeared first on Muskoka411.

If you took a recent Architectural Digest headline literally, you’d think that Muskoka is a hidden gem on Canada’s luxury real estate scene — a secret place yet to be discovered.

The publication posted a headline that many familiar with the Canadian luxury real estate world would find amusing. It reads, “This is Why Muskoka is Canada’s Best Kept Secret in Luxury Real Estate.”

Our question is, best kept secret to who in luxury real estate?

Surely, not the wealthy residents of Ontario — or Canada (and beyond), for that matter.

READ: John Cleese Searching for Place to Stay in Huntsville After Airbnb Misfortune

“I was a little surprised by the headline, but if you’re talking about a broader audience, many may not know,” says Maryrose Coleman, a realtor at Sotheby’s International that specializes in the Muskoka region. “I think that, because it’s an American audience, maybe that’s why it was called a best kept secret. But the New York Times has done features, the Wall Street Journal has done features, the secret is definitely out.”

True — the publication is American. But, considering household names like Goldie Hawn and Kurt Russell, Cindy Crawford and Rande Gerber, Martin Short, Tom Hanks, and Steven Spielberg (to name a few) are all known to frequent Muskoka, you’d think that North America’s one-percenters would be well aware of the pristine region — (admittedly, maybe not all of the publication’s readers, but certainly those familiar with luxury real estate, making the headline a little misleading).

Word’s even gotten out across the pond: Earl Charles Spencer — Princess Diana’s brother — is a recent owner of a few multi-million-dollar Muskoka properties.

To be fair, the publication does indeed highlight the famous faces known to grace Muskoka’s big three lakes — Rosseau, Joseph, and Muskoka — and it does aptly make the accurate comparison between New York’s Hamptons and Los Angeles’s Malibu on the elite-weekend-escape-of-choice front.

While Architectural Digest also correctly points to the contradiction in calling Muskoka’s massive and modern waterfront properties “cottages,” (“lake house” is more accurate), the piece sort of misses the mark on the region’s vibe. “An understated vibe where people aren’t interested in flashiness is also key to why Muskoka is so attractive,” reads the article.

While it may not be the same level of flashiness as Malibu, Muskoka can certainly be flashy, as many of its weekend residents play a not-so-discreet and perpetual game of keeping up with the Jones’.

“I’m sitting in Port Carling looking out the window at the main street watching Ferraris, Maseratis, Lamborghinis, Porsches, and Range Rovers drive by,” says Coleman. “It’s common to go into the Port Carling LCBO and see someone drop $16K for wine for the weekend. It’s pretty damn flashy, depending on your definition of the word.”

She does, however, acknowledge Muskoka’s distinctly more casual style than that found in Toronto (although this may involve a $500 sweatsuit and fresh new kicks). Coleman addresses the region’s low-key vibe that may attract celebs as something more accurately described as a Canadian phenomenon. “Like in Toronto, they like that nobody really bothers them,” she says of Muskoka’s famous faces.

And while there was a time (long, long ago) when acres of land and countless pine trees separated one “cottage” from the next, this hasn’t been a reality for decades in most of the region, as its most coveted lakes have only increased in density with each modern and sprawling new vacation home.

“I find the comment about the appeal of privacy a little debatable because there’s so little privacy here now,” says Coleman. “Unless you’re in the $10-$15-million-dollar range and have an extra $3-million for a privacy buffer zone around your property, there’s very little privacy; your neighbour is going to be pretty close.”

In recent years, Coleman has helped deep-pocketed Americans secure a multi-million dollar slice of Muskoka, many of them familiar with the region through friends and colleagues.

“In addition to a great vacation spot, people look at Canada as a safe haven investment-wise; so they’ll often do what they call land banking; investing in a real estate market that has the assurance of value and safety — Muskoka is one of those places,” says Coleman of the purchasing habits of many American one-percenters.

So, while there was indeed a time when Muskoka remained a relatively unknown spot on the global luxury real estate scene, that was long before Wifi, wakeboard boats, and chef’s kitchens became staples in the coveted region.

And it’s likely only going to become more well-known among the elite on the global stage. “Any couple that Charles Spencer and his wife Karen knows, for example, now know about Muskoka,” says Coleman.

Click Here for the feel article.

The post Architectural Digest Tackles Muskoka… And Gets It All Wrong appeared first on Muskoka411.

By: Storeys Editorial Team

After being displaced by the Barrie tornado last month, Brenda Devitt was served an N7 from her landlord to terminate the tenancy, in part, because she had a vaccinated guest to her new home.

Yes, you read that correctly.

Last week, the Toronto Star published a storey that documented how Dewitt — who lives in the basement and shares a kitchen and bathroom with another tenant, while landlord Geraldine Fry lives upstairs — was told she broke the rules of the house.

According to the landlord, the property is an “unvaccinated house.” No exceptions.

RELATED: Can Your Landlord Legally Require Proof of a COVID-19 Vaccine?

“This is an unvaccinated house and contrary to landlords’ expressed wishes, you are having vaccinated visitors on a daily basis,” the N7 reads, according to Toronto Star.

The publication reports that conversations were had between Fry and Dewitt regarding the home and its guests strictly staying unvaccinated, but Dewitt didn’t think it would be an issue to have vaccinated guests over throughout the day. The N7 also outlined issues with Dewitt’s cleanliness and alleged smoking indoors (she denies smoking in the home).

Fry refunded Dewitt one month’s worth of rent and Dewitt is reluctantly leaving, perhaps for more vaccine-friendly pastures.Ampoules with Covid-19 vaccine on a laboratory bench.

As the Delta variant continues to cast uncertainty over the future, a growing number of organizations — from workplaces to restaurants — are now requiring proof of vaccine. And we assume more will come. While Premier Doug Ford has spoken out about a desire to avoid a “divided society,” last week, Mayor John Tory even hinted at the prospect of a vaccine passport becoming a reality in Toronto.

But how does the vaccine debate impact the housing market, especially with respect to renters?

Naturally — especially in shared living spaces — it’s safe to assume that vaccine conversations (or passionate debates) are currently happening between roommates, landlords, and tenants. At the current moment (understanding things are perpetually changing in our current climate), it’s illegal to evict someone based on their vaccine status. Furthermore, nobody should be denied housing based on their vaccine status, say professionals.

So, things could get awkward. And potentially more heated. Especially in the likelihood that a vaccine becomes a requirement to keeping a half-decent roof above one’s head.

“Landlords aren’t able to ask you about your private medical history and doing so could be a violation of your privacy,” Geordie Dent, Executive Director of the Federation of Metro Tenants’ Associations, told STOREYS in June.

At the same time, Tony Irwin, President and CEO of the Federation of Rental-housing Providers of Ontario stressed that keeping their residents and frontline staff safe in these times is the top priority.

“The Roadmap to Reopen plan in Ontario is tied to vaccination rates, so getting all Ontarians vaccinated remains a key focus for our members,” says Irwin. “Rental-housing providers continue to be informed by public health advice and guidance in determining appropriate operational plans and procedures.”

While any potential rules and regulations are yet to be determined when it comes to vaccine status in condos and apartment buildings, special considerations may be granted in situations like Dewitt’s where certain spaces in a home – bathrooms, kitchens, and living areas – are shared with other tenants.

Bob Murphy, chair of Weston ACORN, worries that vaccine status could be used as a tool to “get tenants out” in our current rent control-lacking rental market in an attempt to jack up the rent for the next tenant. “It’s of the advantage of the landlord to get long-time tenants out; it’s a matter of dollars and cents,” says Murphy. “They will use vaccine status as something to bully their tenants and make them want to leave.”

Landlords aren’t regulated, so there’s nothing in place currently to stop them from at least trying to use things like vaccine status to evict a tenant, says Murphy. “The reality is that it’s really difficult for a tenant to take action against an unscrupulous or predatory landlord, especially if they’re in a building with less than 10 units,” he says.

Whether Murphy’s predictions materialize remains to be seen. But we have a feeling this is far from the last we’ll hear about the impact of vaccine status on Canada’s housing market. And it will undoubtedly get as heated as the market itself.

The post Tenant Evicted for Having Vaccinated Guest Visit “Unvaccinated House” appeared first on Muskoka411.

In most Toronto neighbourhoods, there’s no escaping raccoons.

The sight of raccoons has become so common that most city residents aren’t at all fazed by the sight of the furry creatures.

But being trapped on a boat with one is another story all together.

That’s what happened to a group of cottagers in Muskoka on a recent boat ride on Lake of Bays (proving there’s really no getting away from the animals, city or cottage country).

READ: Changes in Store for Short-Term Rentals in Township of Lake of Bays

TikTok user @hailey.elmer took to the social media platform to share a video of the whole (terrifying) ordeal. In the clip, a racoon is seen moving from the side of the boat, down across its stern seating area, then onto the deck. A dog immediately gets worked up and needs to be held back from the raccoon.

Though the video cuts out at this point, it’s followed by a photo of a foot covered in bloody scratches. We have a good idea of the chaos that ensured, and – frankly – are kind of glad that part wasn’t caught on camera.

“Just a casual boat ride, until a raccoon pops out of no where and is running around the boat  #racoon #boat #muscoka #lakeofbays #foryou #foryoupage” wrote the TikTok user.

@haileyelm15

Just a casual boat ride, until a raccoon pops out of no where and is running around the boat #racoon #boat #muscoka #lakeofbays #foryou #foryoupage

♬ Oh No – Kreepa

At time of writing, the video has accumulated 4394 likes, and been shared 654 times. There’s no word yet on the raccoon’s next moves, whether it will stay in Muskoka, or how it will handle its newfound fame.

The post Muskoka Boat Ride Turns Chaotic When Raccoon Suddenly Appears appeared first on Muskoka411.

The weather in Ontario is heating up, but still, real estate cottage country is hotter. In fact, the only thing that’s more feverish than Muskoka region’s property sales are its property values.

According to newly-released data from the Canadian Real Estate Association (CREA), residential non-waterfront sales activity recorded through the MLS System for the Lakelands region totalled 416 units last month. This marks an increase of 203.6% from the same period in 2020, and sets a new sales record for April.

Waterfront sales activity, meanwhile, increased 267.6% year-over-year. Also setting a new record for the month, waterfront property sales totalled 250 units.

Activity surrounding both property types surpassed what’s typically seen in the region by long-shots. Non-waterfront sales soared 57.5% and 63.8% above the five- and 10-year averages respectively, while waterfront sales surpassed the same markers by 63.4% and 69% respectively.

READ: Sprawling Lot on Lake of Bays is Ideal for a Vacation Home New-Build

Residential non-waterfront sales were 57.5% above the five-year average and 63.8% above the 10-year average for the month of April.

“Non-waterfront and waterfront sales combined to push overall activity above 600 sales for the first April in history, as both property types set new records for the month of April,” said Chuck Murney, President of the Lakelands Association of Realtors.

“A surge in new listings has prevented overall supply levels from falling any further for the time being, although whether this increase in new supply can be sustained remains to be seen. With inventories already at record low levels, competition among buyers has been driving even stronger price growth.”

Where year-to-date data is concerned, residential non-waterfront sales reached 1,208 units through the first four months of 2021 — a record-breaking total that marks a 74.8% increase from the same period last year. Waterfront sales jumped 187.9% year-over-year, closing April with a record 645 units having changed hands.

The MLS Home Price Index (HPI) — which tracks price trends more accurately than what’s possible using average or median price measures — reported the region’s single-family benchmark price to be $571,600 in April, marking a 50.6% increase year-over-year.

Residential non-waterfront property sales saw their median price weigh in at $580,000 last month, jumping 45.7% year-over-year. From a year-to-date perspective, the median price was $580,500 — up 45.2% over the first four months of last year.

At the same time, the median price recorded for waterfront property sales last month was 70.5% over that of April 2020, closing the month with a record $890,000. On a year-to-date basis, the waterfront median price was 865,000, which soars 68.6% over last year’s.

While all of the data from January through to April — and in April alone — proves impressive, it’s the month’s total dollar values that (forgive us) will blow you out of the water. Last month, residential non-waterfront sales clocked in at a total dollar value of $265.1 million, surpassing April 2020’s total by 354.2%. Not only does this count set a new record for April, it also boasts the largest dollar value of homes sold for any month in history.

Waterfront sales, meanwhile, appear to have gone hard and gone home. Their total dollar value recorded last month increased 462.9% year-over-year, closing April at 279.3 million with a new record set for the month.

“These staggering year over year sales increases of waterfront sales in key cottage markets like Muskoka, Haliburton & Kawarthas underscore what we have suspected all along,” affirms Ross Halloran of Sotheby’s International Realty.

“In the face of a pandemic, people will go to extraordinary lengths and expense to establish new accommodation venues to safely enjoy a lifestyle that focuses on  spending more time with friends and family while communing and working in or near nature.”

Though the road to recovery from the 2020-21 debacle appears to be laid out ahead of us, it’s in the zeitgeist that this summer will still be at least semi-remote.

And the price of privacy — especially privacy paired with long lake views — keeps on rising.

Written By  Kayla Gladysz

Outside of writing about real estate news and bathtubs she wishes she could call her own, Kayla loves taking leisurely strolls, baking (and eating) sourdough bread, and reading Mary Oliver by candlelight. She also believes the Twilight: New Moon soundtrack is “genuinely great.”

Click Here to visit the website.

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The post Median Price Recorded For Muskoka Waterfront Property Up 70.5% Y-O-Y appeared first on Muskoka411.

Written By: Kayla Gladysz – storeys.com

For months now, Muskoka real estate activity has been smashing records across the board. Unsurprisingly, March proved to be no exception.

Newly-released data from the Canadian Real Estate Association (CREA) shows waterfront property sales numbered 210 units in March. This total soars 223.1% over sales from the same period last year and — yes — sets a new sales record for the month at large.

Meanwhile, non-waterfront sales activity totalled 383 units last month. This gain, albeit not as striking as that of waterfront sales, is still intense, rising 87.7% over the same period in 2020. These sales too set a record for the month.

In response to all the bustling activity, Chuck Murney, President of the Lakelands Association of Realtors, reflects on the month that welcomed spring.

READ: How Another Ontario-Wide “Stay-at-Home Order” Impacts Your Cottage Country Plans

“March was yet another record setting month for our region,” he said.

“MLS home sales set new March records for both waterfront and non-waterfront properties this past month. We also saw a significant uptick in the number of new listings during the period, when compared to the totals from the last few months. This fresh infusion of new listings helped to shore up overall inventory. Although a welcome reprieve from the recent historic lows, active listings are still hovering only slightly about the lowest level ever. This factor will continue to contribute to the extremely tight market conditions we have been experiencing over the past year.”

Where year-to-date data is concerned, waterfront sales have totaled a record 397 units through the first three months of 2021 — a count that more than doubles that of 2020; surging 154.5%, in fact. Meanwhile, residental non-waterfront sales have totaled a record 788 units, increasing 43.3% from the same period in 2020.

Also from a year-to-date perspective, the waterfront median price was recorded at $850,000, marking a 67.9% increase from the first three months of 2020. For residential non-waterfront properties, the same measure was recorded at $583,750 — a 46% rise over the same period, year-over-year.

In March specifically, the median price for waterfront property sales was $872,000, while the median price for residential non-waterfront sales was $606,000; both marked sharp year-over-year increases of 64.5% and 44.7% respectively.

“Current for-sale waterfront inventory is at a 30+ year low, which has resulted in the convergence of two disturbing trends that are negatively impacting both agents and buyers at the same time,” notes Ross Halloran of Sotheby’s International Realty. “Agents desperate to secure new listings are now “buying” listings, or “bidding up” list-price values way above any reasonable market values when assessed against recent comparable sales. Once these listings come to market, they are then further “bid up” by several buyers — and their agents, in the current multi-offer environment — in a desperate bid to secure the property at any cost (usually well above market value.)”

According to the MLS Home Price Index — which tracks price trends far more accurately than is possible using average or median price measures — the overall MLS HPI single-family benchmark price was $536,100 in March, which represents a year-over-year rise of 42.2%.

When looking at total dollar values, waterfront sales amounted to $228.4 million through March. Nevermind “more than doubling” the prior year’s total — last month’s sales surpassed those of March 2020 by 438.3%, setting a new record for the month.

Less jaw-dropping, but still a feat in its own right, the total dollar value recorded for residential non-waterfront sales was $247.6 million, which soars 175.5% over the data from last March. This total not only sets a new March record, but also amounts to the largest dollar value of homes sold for any month… in history.

“To try to fare better for their buyers in these intense multi-offer bid situations, many buyer agents are now utilizing scalable offer pricing models to predict final above-list price outcomes based on the number of competitive offers in play for a particular property,” Halloran explains.

“[Agents are doing this,] and/or including escalation clauses in their offers, increasing their buyer’s offer up to a pre-determined maximum amount to try to keep pace with rising over list bid offers.”

Halloran adds that whether one is trying to list, or trying to acquire, navigating the world of waterfront developed or undeveloped property is “often an exercise in futility and [is] certainly not for the faint of heart.”

“Indeed, listing and buyer agents trading in the recreational/waterfront market today must now contend with Real Estate Darwinism at its worst and must evolve to survive,” he says.

Maryrose Coleman, also an agent for Sotheby’s, notes that their Halloran & Associates team is beginning to see some early signs the market may be shifting. While it’s still too early to make predictions, changes taking place across the GTA, Canada, and even internationally may reflect coming transitions for cottage country.

Reflecting on such potential, Coleman says, “This will mean an interesting spring.”

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