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Lost in Leisure: Cottage Owners Face Market Freeze

For thousands of cottage owners across Ontario, the dream of owning a slice of lakeside paradise has turned into an unexpected waiting game. With interest rates remaining stubbornly high and buyers sitting on the sidelines, the once-booming recreational property market has cooled dramatically—leaving homeowners stranded with listings that simply won’t budge.
Many had hoped to cash in on the demand sparked during the pandemic, when urban dwellers fled to quieter, greener escapes. But today, cottages are lingering on the market for months, sometimes without a single viewing. Real estate agents report that price reductions are becoming the norm, yet even slashed prices fail to lure hesitant buyers.
“We’re seeing sellers who planned to upgrade or downsize stuck in limbo,” says one Muskoka-based agent. “It’s beautiful here, but financial uncertainty has turned paradise into purgatory.”
In the meantime, owners are left enjoying their properties while watching the market—and their plans—remain in a holding pattern. The lake is calm, but the real estate tides are anything but.
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