Lake Simcoe Waterfront Market Update as @ September 30, 2015

We have compiled the waterfront sales activity on Lake Simcoe for the first nine months of 2015 and compared it to the same period in 2014.

Generally, the market showed positive signs of steady growth, each area has its own unique characteristics that need to be factored in when assessing price, demand, value and even popularity.

 

Here is a Snapshot of the Waterfront Real Estate Market

Georgina had five additional waterfront sales although the average price was consistent with the 2014 data. The highest selling price in 2015 was $2,000,000 compared to the previous year’s high of $1,320,000.

AREA AVG. SALE PRICE DAYS ON MARKET NUMBER OF SALES
GEORGINA

2015

$710,897

49

39

2014

$693,135

37

34

% Change                             <1.0%

Beaverton’s average price is down however, although the median price rose by 23.3%. Due to the small number of actual sales in this lakefront community, the data must be interpreted more accurately once year-end results have been obtained. Beaverton’s waterfront is mostly direct lakefront and most of the waterfront is on title. Also, the waterfront size tends to be larger than Georgina properties.

AREA AVG. SALE PRICE DAYS ON MARKET NUMBER OF SALES
BEAVERTON

2015

$513,771

71

14

2014

$556,536

60

11

% Change

-7.6%

Oro/Medonte has experienced a large number of properties priced above $1million than in 2014. There were 4 sales in 2014 as compared to 9 in 2015 to-date which has largely contributed to the increase in the average price year-over-year.

AREA AVG. SALE PRICE DAYS ON MARKET NUMBER OF SALES
ORO/MEDONTE

2015

$1,057,891

73

24

2014

$801,270

62

24

% Change                              +32%

Since Innisfil’s market data is tracked on both the Toronto Real Estate Board and the Barrie Board we examined the sales activity and combined the total sales from both boards. Innisfil experienced a higher number of actual sales year-over-year. The top selling price in 2014 was $2.9m which is was only slightly higher in 2015 at $2.99m.

AREA AVG. SALE PRICE DAYS ON MARKET NUMBER OF SALES
INNISFIL

2015

$860,246

55

39

2014

$774,575

78

33

% Change

11.1%

Once again, Brechin has experienced similar sales activity although the days on market almost doubled since 2014. This change in price is largely due to one sale at $2.1m which skews the data. Brechin is just north of Beaverton. We did not include any sales in Lagoon City except for properties directly on Lake Simcoe.

AREA AVG. SALE PRICE DAYS ON MARKET NUMBER OF SALES
BRECHIN

2015

$587,729

110

17

2014

$490,499

59

18

% Change                           +19.8%

Note: All data used to compile this report is taken from both The Toronto Real Estate and Barrie Real Estate Board.

This information is not to be duplicated without the permission of Roxanne Henderson, Broker with Chestnut Park Real Estate Limited, Brokerage.

Tags: , , , , , , ,