'We have had record sales,' Real estate market has dramatic rebound in cottage country
PORT CARLING, ONT. -- The real estate market has rebounded since the pandemic first hit, and in Muskoka, the demand for cottages has risen dramatically.
For many Canadians, a cottage by the lake is a dream that more people are trying to make a reality.
"We have had record sales," said realtor Catharine Inniss, Johnston and Daniel Rushbrooke Realty.
In June 2019, 161 cottages were sold in the District of Muskoka while last month, 278 were sold, which is an increase of 73 per cent year over year.
Jodi Kovitz lives in a condo in downtown Toronto with her daughter and said she's on the hunt for a Muskoka cottage.
"We're doing great. We're healthy, and we live in 11-hundred square feet, and we haven't really left it for four months," Kovitz said she's looking to find her dream cottage.
It's a trend taking shape across the world.
A recent article in the Wall Street Journal reported 39 per cent of urban dwellers in the United States are thinking about moving somewhere more rural because of the pandemic.
But if you are considering a move, Inniss has some tips, including using a local realtor.
"They know whether there's flooding, shore allowances, septics, etc.," she explained.
Inniss added that while properties are moving quickly, there are still plenty out there.
Local real estate agents expect prices to continue to climb slowly and demand in cottage country to remain high through the fall.