2015 Cottage Country Waterfront Real Estate Update

Lake Simcoe

2015 Cottage Country Waterfront REAL ESTATE update

With the allure of owning a recreational waterfront property in cottage country on the rise, it’s no surprise our analysis of the number of Lake Simcoe waterfront sales in 2015 shows an increase of 15 per cent since 2014.

As an update on other cottage country areas, according to Chestnut Park’s Muskoka and Area Report http://goo.gl/FqUZeR all of the markets encompassed by the Muskoka and Area Realtor’s Association reported a 23 per cent increase in sales compared to 2014.

The Haliburton Highlands also reported a 30 per cent increase and the Muskoka’s big lakes, Lake Joseph, Lake Rousseau, and Lake Muskoka, have produced increased sales for three consecutive years. The results achieved are 19 and 31 per cent in 2014 and 2015.

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LAKE SIMCOE RECREATIONAL PROPERTY HIGHLIGHTS: 

  • Many Lake Simcoe dwellers describe waterfront property as their second home rather than their seasonal cottage.
  • Lake Simcoe’s proximity to Toronto enables homeowners to enjoy their recreational property all year long.
  • With 240 km of shoreline around Lake Simcoe and several distinct communities it is not surprising to see a wide range of market values around the Lake.
  • Construction continues to dot the shoreline as more people are building new homes or substantially renovating their existing waterfront homes.
  • There were a total of 137 waterfront sales reported in 2015 by The Toronto Real Estate Board compared to 119 sales in 2014.  For reporting purposes we have not included sales under $300,000 and only Lake Simcoe properties were included in the analysis. Riverfront properties were excluded.
  • Oro-Medonte reported the highest percentage price year-over-year with a 29.3 per cent increase in the average selling price.

 

SUMMARY OF SALES ACTIVITY OF FIVE KEY AREAS 

AREA 2014 Avg. Sale Price 2015 Avg. Sale Price % Change
Georgina $679,912 $753,804 11.1%
Beaverton $585,000 $531,863 -9.0%
Orillia $749,591 $823,182   9.7%
Oro/Medonte $822,239 $1,074,085 29.3%
Innisfil $929,367 $842,974 -9.3%

For a copy of the full report please email Roxanne Henderson at Roxanne@ChestnutPark.com or call at 289-338-0767.

 

 

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