The pandemic has shaken up the real estate market and Muskoka is no exception. Kelly Fallis, Salesperson with Chestnut Park, says while there are many positives with this new reality, it has created one hiccup: demand outpacing supply.
“COVID changed the world, but what’s just coming to light now is that the Muskoka real estate landscape is never going to be the way it was,” she says. “This isn’t a bubble but a trifecta of factors.”
During lockdown people explored every sideroad to find different scenery and some much-needed nature. This introduced a lot of new eyes to Muskoka.
You can’t create any more waterfront property. Until current owners decide to transition, we remain in an inventory holding pattern.
Interest rates remain low. Even as the Bank of Canada rate rises, reaching previous norms will take time.
While the pace of real estate transactions remains hectic, this fall has seen a shift to having more time to process decisions. “Make no mistake: the intensity to secure a place is still there,” Kelly says, “but having time to digest, learn, understand, and maybe actually visit the place before making big-dollar offers is healthier for everyone involved in the transaction.”
Having “boots on the ground” is paramount to succeeding in purchasing property in Muskoka. “It’s incredibly challenging to get an instant 360-degree perspective from a listing. By the time our clients inquire, our team, including Andie Wise and Robin Wynne, have done the research, been to the property, and come to some informed conclusions about it.”
Kelly and her team have over 126 combined years of history on Lake Muskoka. They’ve lived on islands and mainland, and now call three different towns home. “Being ‘All Muskoka All The Time’ provides immense value to our clients.”
Kelly brings a unique approach to her work, driven in part by her focus on efficiency. “I’m time-starved, data driven, highly pragmatic and committed.” She’s also passionate about return on investment and driven by a desire to help.
That stems in part from Kelly’s unusual background. She’s had a corporate career in finance and sales, and been owner-operator of staging and furniture e-commerce companies, as well as the Muskoka building company she co-owns with her husband. All of those experiences have now intersected. “It’s like a one-stop shop. We can provide advice on renovations, who to contact to do them, and once it’s done, what you’re going to do for fun in February. We make a great resource!”
TEXT KARI KLASSEN | PHOTOS ANDREW FEARMAN