Haliburton Cottage Market Trends (2023)

The Haliburton cottage market currently favours sellers – conditions that are expected to continue through the remainder of 2023.

Average sale price in the Haliburton cottage market decreased by 26 per cent year-over-year (from $869,756 in Q1 2022 to $643,549 in Q1 2023). Meanwhile, the average number of sales decreased by 57.8 per cent year-over-year (from 102 in Q1 2022 to 43 in Q1 2023).

Families, retirees and investors are currently driving market activity in the region in a trend that’s likely to persist this year, with the majority of buyers coming from the Greater Toronto and Hamilton areas. With approximately 900,000 Baby Boomers expected to retire in the next three years, the region is expected to see demand from retirees increase.

Furthermore, over the next several years, as a result of the greatest intergenerational transfer of wealth to date, it’s likely that succeeding generations may have more opportunities to purchase recreational properties at higher price points.

“The region is a good option for many buyers due to the proximity to Toronto-GTA. Buyers flock to the areas for its access to key amenities like waterfront, reliable wi-fi, and more. Despite many of the supply challenges across the country, nearby Muskoka inventory has actually increased year-over-year, in large part due to sellers taking advantage of the current market conditions,” says Katie Rowe, Broker Manager, RE/MAX Professionals North.

Looking ahead, average sale prices in the Haliburton cottage market are anticipated to increase two per cent for the remainder of 2023, while the number of sales is expected to decrease by 10 per cent.