Parry Sound Real Estate Market Update – May 2025

The Parry Sound real estate market in 2025 is characterized by a shift towards a buyer's market, with increased inventory and adjusted pricing across both residential and waterfront properties.​findingyourparrysound.ca

🏡 Residential Market Overview

Inventory and Sales Activity

As of early 2025, residential home sales in the Parry Sound region remain subdued, averaging around 32 properties sold per month. This slowdown isn't due to a lack of inventory; in fact, available listings have reached their highest levels since 2018, indicating a growing selection for potential buyers.

Pricing Trends

The median sale price for residential non-waterfront properties has seen a decline. In December 2023, the median price was reported at $630,000, marking an 8% decrease from the previous year. This trend reflects a market adjusting to buyer expectations, with sellers increasingly motivated to price competitively.​

Market Dynamics

The current market dynamics suggest a standoff between buyers and sellers. While buyers are cautious, awaiting further price adjustments, sellers are gradually aligning their expectations with market realities. This equilibrium is anticipated to shift as inventory continues to rise, potentially leading to more favorable conditions for buyers in the coming months.

🌊 Waterfront Market Insights

Sales and Inventory

The waterfront property segment has experienced a notable decline in sales since its peak in 2021. Properties priced over $2 million have seen sales drop by approximately 40%, while those in lower price brackets have experienced a sharper decline of about 60%. Despite this, new waterfront listings are at their highest levels since spring 2021, with the total number of cottages for sale doubling compared to 2022.

Pricing Adjustments

The increased inventory has led to significant price adjustments, as sellers navigate a buyer-driven market. Many properties have undergone price reductions to align with current buyer expectations. In 2022, properties sold for an average of 105% of their listing price, often amid competitive bidding wars. Today, that figure has dropped to under 94%, indicating a return to more traditional pricing dynamics.

Market Outlook

Looking ahead, the waterfront market is expected to remain strong in terms of listings, with many unsold cottages returning to the market. Mortgage renewals for cottages purchased during the COVID-19 buying surge could drive more owners to list their properties. Anticipate further modest price reductions, particularly for cottages on smaller or less sought-after lakes, and strong inventory numbers in the second quarter. ​

🔍 Key Takeaways for Buyers and Sellers

• Buyers: The current market offers increased inventory and more negotiating power. With prices adjusting and a wider selection of properties, it's an opportune time to explore options in both residential and waterfront segments.

• Sellers: Pricing appropriately is more important than ever. Overpricing a property risks prolonged time on the market or losing out to competitively priced listings. Aligning with current market trends is crucial for successful sales.

For personalized advice and the latest listings in Parry Sound's residential and waterfront markets, feel free to reach out. Whether you're buying, selling, or investing, staying informed is key to making the best real estate decisions in 2025.

As the snow melts and the days get longer, early spring marks the ideal time to start searching for your dream cottage in the Parry Sound area. Whether you're looking for a waterfront retreat, a cozy off-grid escape, or an investment property, acting early in the season can give you a huge advantage. Here’s why:

1. More Inventory, More Choices

As cottage owners prepare to list their properties, spring brings a surge in new listings, giving buyers more options to find the perfect getaway. By starting your search early, you’ll have the first pick of available properties before competition heats up in the summer months.

2. Less Buyer Competition

The busiest time for cottage buyers is late spring and summer when warm weather sparks demand. By getting ahead of the crowd in March and April, you can avoid bidding wars and secure a great deal before peak season.

3. Ideal for Closing & Enjoying the Full Summer

Purchasing in early spring allows you to close on your property in time for summer. This means you’ll be settled in and ready to enjoy your cottage for the full season—boating, swimming, and relaxing by the lake instead of house hunting in July.

4. Easier Property Inspections

Checking out a cottage in early spring gives you a clearer picture of the property’s condition. With snow melting away, you can properly assess the foundation, drainage, and shoreline, ensuring no surprises after you move in.

5. Early Bird Pricing Advantage

Prices tend to rise as demand increases, especially for waterfront properties. By starting your search now, you have a better chance of locking in a great price before competition drives up values.

6. More Time to Personalize & Prepare

Buying in early spring gives you extra time to make any renovations, updates, or furnish your new retreat before the peak summer season. Whether it’s adding a dock, landscaping, or updating the interior, you can customize your cottage before the warm weather arrives.

Let’s Find Your Dream Cottage This Spring!

If you’re thinking about buying a cottage in Parry Sound or Muskoka, early spring is the best time to start. With my local expertise, deep market knowledge, and strong negotiation skills, I can help you find the perfect property at the right price.

🔹 Let’s start your search today! Contact me at 905-467-1975 or visit http://www.lakeandbay.ca/map-search.html to explore available listings. Your dream cottage awaits! 🏡🌿🚤

By Jenn O’Brien, Lake and Bay Real Estate

As we navigate through the early months of 2025, the Parry Sound real estate market presents a dynamic landscape for both waterfront cottages and residential homes. Here's an in-depth look at the current trends shaping our local market.

Waterfront Cottage Market

The waterfront real estate sector in Parry Sound has experienced notable shifts. Since the market's peak in 2021, cottage sales have declined significantly. Specifically, properties priced over $2 million have seen a reduction of approximately 40% in sales, while more modestly priced cottages have witnessed a sharper decline of about 60%. ​

This decrease in sales has led to an increase in available inventory. New waterfront listings are at their highest levels since spring 2021, with the total number of cottages for sale doubling compared to 2022. The 12-month rolling average now exceeds 200 active listings.

Pricing dynamics have also shifted. In 2022, properties often sold for an average of 105% of their listing price, frequently amid competitive bidding wars. Currently, that figure has dropped to 93%, indicating a return to more balanced market conditions.

Residential Homes Market

The residential sector in Parry Sound mirrors some of the trends observed in the waterfront market. Home sales remain slow, with an average of just 32 properties selling per month. Interestingly, this sluggish performance isn't due to a lack of inventory—available listings are at their highest levels since 2018. ​

This scenario suggests a standoff between buyers and sellers. Many sellers are holding out for peak prices reminiscent of previous years, while buyers are cautious amid evolving market conditions. As inventory continues to rise, sellers may feel increased pressure to adjust their expectations to align with current market trends.​

Market Outlook

As we move further into 2025, several factors are expected to influence the Parry Sound real estate market:​

• Increased Inventory: Both waterfront and residential properties are anticipated to see a rise in listings, providing buyers with more options.​

• Price Adjustments: Sellers may need to adjust their pricing strategies to reflect the current market dynamics, especially if properties remain on the market for extended periods.​

• Buyer Opportunities: With increased inventory and potential price adjustments, buyers may find favorable conditions to enter the market, particularly in segments with significant inventory growth.​

Both buyers and sellers need to stay informed and adapt to these evolving market conditions. Collaborating with a knowledgeable local real estate professional can provide valuable insights and guidance tailored to individual circumstances.​

For personalized advice or more information on specific properties, feel free to contact us at Lake and Bay Real Estate. We're here to help you navigate the Parry Sound real estate market with confidence.

Note: The data and trends discussed above are sourced from recent market analyses and reports.

Lake and Bay Real Estate

Your Trusted Partner in Parry Sound Real Estate

Contact us at 905-467-1975

Visit our website: http://www.lakeandbay.ca/

If you’re thinking of selling your Parry Sound area cottage, timing is everything. One of the best opportunities to gain exposure for your property is during the Spring Cottage Life Show, happening at the International Centre in Mississauga. But here’s the key: to take full advantage of the event, your cottage should already be listed before the show begins.

The Cottage Life Show: A Prime Opportunity

Every year, thousands of prospective cottage buyers flock to the Cottage Life Show to explore the latest in waterfront living, from docks and décor to real estate and investment opportunities. Many attendees are serious buyers looking for the perfect escape—and they’re ready to act.

As a seller, you can tap into this highly motivated audience, but only if your property is already on the market. Here's why listing before the show is a strategic move:

1. Your Cottage Will Be Front and Centre

At the Cottage Life Show, buyers are actively gathering information, connecting with real estate professionals, and scouting properties. If your cottage is already listed, it can be featured in marketing materials, showcased in conversations, and readily available for interested buyers to view online.

2. Buyers Are Already Looking—Before the Show Even Starts

Many buyers begin their search well in advance of the Cottage Life Show. By having your listing live before the event, you ensure that your property is seen by those already browsing online and making shortlists of potential cottages to visit in the spring.

3. You’ll Benefit from Peak Spring Interest

Spring marks the beginning of peak cottage-buying season. Buyers attending the Cottage Life Show want to secure their dream getaway before summer, so they’re prepared to move quickly. If your cottage is on the market before the show, you can capture early interest and potentially get offers before competition heats up.

4. It Creates a Sense of Urgency

When a well-presented, properly priced cottage hits the market before the Cottage Life Show, it sets the tone for serious buyers. If they see that great properties are already available, they’ll feel more urgency to act quickly—rather than waiting and risking missing out.

5. More Eyes, More Potential Offers

Listing before the show means double the exposure—first to early online shoppers, then again to the crowds at the event. More exposure means more potential interest, more showings, and ultimately, a better chance of a competitive offer.

The Bottom Line

If selling your Parry Sound area cottage is on your radar this year, don’t wait. By listing before the Spring Cottage Life Show, you’ll maximize exposure, reach motivated buyers, and increase your chances of a successful sale—just in time for the summer season.

Thinking about selling? Let’s get your cottage market-ready! Contact me today to start the process and take full advantage of this prime selling opportunity.