Realtor Krista Bradley prides herself on helping people settle into a simpler life outside the bustle of Toronto, but navigating rapidly changing market conditions over the last five years in Collingwood and The Blue Mountains has been anything but simple.
The Century 21 agent said her local market is coming back to earth after a whirlwind few years, which started with a “huge boom” during COVID-19 as city dwellers exited in droves, seeking an escape a couple of hours outside of the city.
That lasted until 2022, when interest rates began climbing from historic lows.
“And then there was the inevitable crash. And I’ll call it a crash, but it was more of a reality check,” said Bradley.
“It was not a sustainable state of affairs.”
A return to the long-term trend
At the early 2022 peak, the median price in Muskoka and Simcoe County was nearly $1.4 million for waterfront residential and $900,000 for non-waterfront, according to OnePoint Association of Realtors (which has a new data reporting system since December 2024).
Through to the end of 2024, prices steadily ticked downward and leveled out to where they would have been with typical year-over-year increases.
“We started to see over the past couple of years some nice interest rate reductions,” said Bradley.
“So, there was this feeling of optimism that our markets are now going to start to climb again.”
Tariffs trigger uncertainty, stalling spring market optimism
Many sellers began 2025 feeling hopeful that a long-anticipated spring market was finally within reach, only to see that optimism stall amid uncertainty triggered by new U.S. tariffs.
“Here I am in Collingwood and Blue Mountain—we’re very driven by skiing. We are a ski community, so our market historically has been a fall market, but we thought this year, this is it. We’ve had four or five interest rate reductions in a row. We’re going to see a spring market. And then we had the tariff.”
The shift in momentum was immediate.
“Essentially, the tariffs made everybody just put the brakes on, because there’s so much uncertainty now in the market—uncertainty from buyers’ perspective, not knowing whether their jobs are stable, or whether our prices are going to continue to erode,” she said. “We went from a period of extreme boom, to a bit of a letdown, to a feeling of optimism, to now again a bit of a disappointment.”
Setting seller expectations in a shifting market
Bradley is finding that setting clear and realistic expectations with sellers has become more crucial than ever.
“The biggest thing is having conversations with my clients that are rooted in reality,” said Bradley.
She emphasizes that the market has fundamentally changed—gone are the days when a listing virtually guaranteed a quick sale.
“In this market, we have to be patient and strategic,” she said. “A listing won’t move just because it’s listed. It takes the right marketing and the right price.”
According to Bradley, pricing is now more critical than ever, as buyers come armed with research and knowledge about neighbourhood trends and comparable sales.
“Buyers are savvy,” she said. “They know what properties are worth and are doing more due diligence than ever before.”
While demand may still be steady in some areas, she said that the path to a sale is no longer a straight line. “It’s about knowing your market, knowing your buyer, and being realistic about timelines,” she said.
From retirees to families: A changing buyer profile
The buyer profile in Blue Mountain and Collingwood is shifting, with a growing number of young families and second-home buyers joining what was once a retiree-dominated market. “We’re seeing a shift from primarily retirees to increasingly more families and younger individuals,” said Bradley.
While active retirees are still a part of the mix—often downsizing into condos or low-maintenance homes—there’s now a notable influx of executives who can afford a second property, and families eager to trade city life for something quieter and more connected.
Bradley had once made that decision for herself, trading a busy city lifestyle for a more peaceful and safe environment to raise her son.
Blue Mountain’s four-season lifestyle attracts savvy investors
Long regarded as a premier winter destination for skiers, Blue Mountain is now gaining traction with investors drawn to its emerging four-season appeal.
“Historically, this area was a draw for skiers, especially around Blue Mountain,” said Bradley. “But now, we have unbelievable beaches, golf courses, wineries, and a huge biking community.”
The shift from a seasonal retreat to a year-round hotspot is creating new opportunities in the short-term rental market.
Where properties once sat vacant for much of the year outside ski season, investors are now seeing steady demand through spring, summer, and fall.
“It’s become truly four seasons,” she said. “Their properties don’t sit vacant for the other eight months of the year.” Visitors are coming not just to ski, but to enjoy hiking, mountain biking, beach days, and local wine tours. As a result, Blue Mountain is no longer just a winter playground—it’s an all-year destination with consistent returns across every season.
Courtney Zwicker is a digital reporter and associate editor for REM. Based in Atlantic Canada, she has over a decade of experience covering daily business news.