We are in a SHIFT, no doubt!
Interest rates are way up from the (almost) zero rates for the past few years, inflation is soaring, gas prices are near $2/Litre --- something is happening, and its making waves in real estate!
Muskoka real estate still has more interested buyers than sellers, still a Seller's market at the time of this post (early July) However, the days of bidding wars on mediocre properties is OVER. The nicest properties do have competition, and prices are still, on average, higher than 2021 --- but the covid buyers are gone, many investors are waiting to purchase, so at least half the buyers that were active in 2021 are no longer in the market. This makes a difference!
There are price reductions, home inspections, financing and sale-of-buyers property conditions being accepted!
It's still a good time to both buy and sell, but you'll need to make sure your pricing isn't speculative (if you're a seller) and make sure your financing is up-to-date if you're a buyer.
