The real estate market has been a bit of a roller coaster in recent years, but there’s an element of predictability to its ups and downs.
“As we head towards the end of 2024, many are anticipating another drop in interest rates, which could reignite real estate sales,” says Ben Imrie, who, along with his brother Dan, runs iMuskoka, the leading real estate team at Chestnut Park Real Estate, Muskoka’s top brokerage.
If the market feels sluggish right now, Ben explains that it’s partly due to a post-COVID correction. “We essentially saw five years’ worth of inventory fly off the shelves in just three years,” he says. “It’s like we squeezed a lot of toothpaste out of the tube.” As a result, the market volume is down. As for pricing, while cottages aren’t selling for the same record highs of the early 2020s, prices remain very solid.
Don’t wait for the dip
While the market may be readjusting, Ben advises against delaying your real estate plans. He points to classic seasonality as another reason for the current slowdown.
“There’s a distinct pattern to cottage real estate in Muskoka,” he explains. “It’s not so much a wave as an M-shaped curve, with peaks in the spring and fall, followed by a quieter winter season.”
With 25 years of experience in Muskoka, Ben and Dan have witnessed these trends firsthand. They emphasize that winter offers a valuable opportunity to prepare for the next peak season.
Preparing to list
“Planning in advance is key,” Ben advises.
“Being prepared gives us time to connect with you so that we can provide an accurate property evaluation and help you strategize your next move. We maintain a close relationship throughout this period to ensure you have expert guidance every step of the way.”
He also cautions against making impulsive decisions driven by market fluctuations.
“We’ve seen many owners rush to list their properties without proper planning,” Ben notes. “A successful experience comes from understanding your property’s value and being prepared.”
Once you have a clear picture of your property’s worth, it’s time to enhance its appeal. Declutter, renovate tired spaces, and freshen up the interior with a new coat of paint.
iMuskoka: your Muskoka real estate experts
At iMuskoka, meticulous preparation is key. “We gather all the essential information about your property before it hits the market,” Ben explains. “The more details we have, the more smooth and efficient we can make the transaction for both buyers and sellers.”
Dan, Ben, and their team of sales representatives – Robyn Goodwin, Julie Dureen, and Jessica Kaye – then craft a comprehensive marketing campaign, leveraging professional photography, cutting-edge technology, and innovative tools to showcase your property with strategic planning.
“Our 3D video tours allow prospective buyers from outside Muskoka to examine cottages without leaving their homes or offices,” says Ben. “These user-friendly tours provide scaled 3D models with detailed labelling, highlighting key features that might otherwise be missed.
“We’re always pushing the boundaries,” Dan adds. “We constantly innovate with new products and services.”
iMuskoka also utilizes AI to analyze comparative data and enhance pricing accuracy. “Realistic pricing is crucial,” Dan emphasizes. “But it can be challenging in Muskoka, where each property is unique, with factors like architecture, lot size, and water frontage all influencing value.”
Ben is already working with clients who are considering selling in 2025. “Muskoka’s real estate season is short, so preparation is essential,” he advises. “Regardless of your timeline, we’re here to guide you through your next real estate journey.”
TEXT SHELANNE AUGUSTINE
PHOTOS ANDREW FEARMAN
