Collingwood has it all – great food, great shopping, unbeatable recreational activities, and stunning four-season weather. The secret is out, and many affluent baby boomers from Muskoka have been purchasing luxury homes for sale in Collingwood to live here full-time. Combine this with a new wave of millennial buyers and boomers from Toronto, and Collingwood has been targeted as the next great place to live.
As a result, Collingwood is no longer simply a seasonal vacation market. With its rise to a full-time residential market, increasing investment opportunities have sprung up, along with more luxury homes for sale. Demand in the luxury segment remains high, with many homes selling within the $1, $2, and even $3 million range.
The demand for housing has surged, and construction in the area has struggled to keep up. But in 2019, as more new families and high-net-worth baby boomers started eyeing Collingwood as a destination, construction activity increased dramatically. As a result, many service-related businesses, restaurants, fitness studios, interior design studios, and breweries opened up their doors.
Prices for homes in Collingwood were expected to rise 8% in 2021, and the market definitely still favours sellers even as we approach 2022. The relocation across the Canadian housing market is real and is not expected to slow down any time soon as more and more seek luxury homes for sale in this part of Ontario. To learn more about current market conditions or to start looking for a home of your own in Collingwood, don’t hesitate to contact us.