It’s hard to believe we’re already past boat show weekend, but here we are! There have been some interesting developments since the last report I did at the start of summer, so I thought I’d highlight a few things. 1. Surplus of Waterfront Lots Available: There are some nice waterfront lots with dock-able waterfront available in Cedarville, both island and mainland. Given the lack of opportunity for these types of lots in past years, I’m a bit surprised more haven’t gotten accepted deals. There are a couple nice ones on Island 8, and also another quality mainland lot adjacent to Islington Point.
2. Longer Days on Market for Waterfront Homes: While the cottage inventory has not improved dramatically this year, there have been some quality places that have listed on both the mainland and islands. Several of them have very desirable features and locations, however, they are not finding immediate success with buyers. This is reflective of a trend we saw going back to last year, where the waterfront market has reverted to a more traditional one, with the majority of sales happening in the late summer or fall.
In light of the relative surplus of lots and cottages we have available compared to the past few years, I could see an advantageous landscape for buyers this fall. Add to the mix that mortgage rates just hit their lowest point since October ’24, and you can easily see how buyers may be incentivized to purchase.
