Seller's market expected to continue in Greater Sudbury Cottage market
French River, Greater Sudbury & Manitoulin Island
2023 RE/MAX Cottage Trends Report
• The intergenerational transfer of wealth occurring as a result of 900,000 baby boomers retiring is expected to drive up demand for recreational properties in the region. • Most recreational property buyers are local to the region, and not from larger city centres such as Toronto. The region is seeing many families investing in secondary properties. • Sudbury has always been well insulated from major peaks and valleys in the market and broader economic environment – a condition that is anticipated to remain unchanged. This is due to the mining sector’s commitment to our area, as well as Sudbury being the hub for many industries like healthcare and education in Northern Ontario.
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$553,665
2023 (January-March)
average price
$698,457
2022 (January-March)
-20.7%
Year-Over-Year
-43%
40 unit sales
23 unit sales
Sales stats
market outlook
-5%
2023 Sales Estimate
+5%
2023 Price Estimate
Average price
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