If you’re weighing a renovation, a new build, or a move, it helps to understand what’s actually happening in each market. Here’s an honest look at where things stand across the four regions we build and renovate in, current as of mid-to-late 2026.
London: A Stable, More Affordable Market
London has settled into a balanced-to-buyer’s market after a few volatile years. Average home prices have been sitting in the $600,000–$640,000 range through 2026, with the benchmark price closer to $555,000–$560,000 — both essentially flat to slightly down year over year. Listings have climbed noticeably, giving buyers more choice and more negotiating room than they’ve had in several years.
What this means for renovators: with resale prices stable and inventory up, a well-executed renovation is a reliable way to add value without waiting on price appreciation to do the work for you. It’s also a market where buyers are comparing move-in-ready homes against fixer-uppers, so a quality renovation can be the difference between a fast sale and a stale listing.
Grand Bend: Correcting After a Pandemic Surge, Still Lake-Premium
Grand Bend prices pulled back somewhat through 2025, with average residential prices easing from the mid-$800,000s toward the current range, while listing prices for the broader market (including higher-end waterfront) can run well past $1 million. The area has permanently shifted from a purely seasonal market toward more year-round living, driven by remote-work flexibility and buyers who decided lake life could be their everyday life, not just a summer one.
What this means for renovators: with more owners converting seasonal cottages into full-time residences, insulation upgrades, four-season mechanical systems, and additions are in high demand. A property renovated for year-round comfort stands out in a market where buyers increasingly want exactly that.
Tobermory: A Small, Thin Market Where Data Is Limited
Tobermory’s real estate market is genuinely small — often just a handful of active listings at any given time, with average asking prices in the $750,000 to $1.5 million range depending on waterfront access and lot size. Because so few properties trade in any given month, pricing here is less about broad trend lines and more about the specifics of each lot: shoreline, rock conditions, and access.
What this means for renovators: with limited turnover, most owners hold onto Tobermory properties for the long term rather than flipping them, which makes durability and long-term livability — not resale timing — the priority for most renovation and build decisions here.
Muskoka: A Two-Speed Market
Muskoka’s cottage market has been correcting since its 2022 peak, with median waterfront prices easing into the $800,000–$950,000 range broadly, while the ultra-luxury tier on Lakes Muskoka, Rosseau, and Joseph continues to hold firm — average waterfront pricing on the "Big Three" lakes remains in the multi-million-dollar range. Inventory is elevated and properties are taking longer to sell than the historical norm, giving buyers real negotiating leverage outside the top tier.
What this means for renovators: in a market where buyers have more choice and more patience, a dated cottage competes poorly against a well-renovated one. At the same time, the luxury segment’s resilience shows that quality, character, and four-season capability continue to command a premium even when the broader market softens.
The Common Thread
Across all four regions, 2026 buyers have more inventory, more time, and more negotiating power than they did a few years ago. That shifts the value proposition: a property that’s move-in ready, energy-efficient, and thoughtfully updated stands out far more in today’s market than it would have during the frantic bidding wars of 2021 and 2022. Whether you’re renovating to sell or to enjoy for years to come, quality work matters more in a patient market, not less.
Market data is general and changes month to month — if you’re weighing the value of a renovation against current conditions on your specific street or lake, we’re happy to talk through what we’re seeing locally.