Despite a complete shutdown of the real estate market in March and April due to COVID-19, we are pleased to report that the first half of 2020 revealed a substantial increase in the number of waterfront sales compared to the same period in 2019. There was a total of 59 sales, which is an increase of 55% in the predominant market areas we have been monitoring and reporting on for the past 11 years which include:
- Georgina
- Innisfil
- Oro-Medonte
- Orillia
- Ramara
- Beaverton
Ramara experienced a 267% increase in the number of sales followed by Georgina reporting a 120% increase year-over-year. Sales of all types of real estate had dropped significantly during March and April however, since early May the market has rebounded.
We forecast a continuing active market as more and more buyers regard recreational and country properties as their sanctuary from urban areas most affected by the pandemic.
(NOTE: Our annual reporting only includes properties sold above $300,000 on Lake Simcoe/Lake Couchiching. Canal, island or riverfront sales are excluded from our analysis.)
Average Sale Price
2020 First Half (as @ June 30 2020)
| AREA | 2019 Avg. Sale Price | 2020 Avg. Sale Price | % Change |
| Georgina | $1,378,400 | $1,424,205 | 3% |
| Beaverton | 1,000,000 | $525,000 | n/a |
| Orillia | $820,416 | $801,200 | -2% |
| Oro/Medonte | $1,966,125 | $1,663,036 | -15% |
| Innisfil | $1,024,808 | $1,317,444 | 29% |
| Ramara | $875,000 | $955,367 | 9% |
Number of Sales
2020 First Half (as @ June 30 2020)
| AREA | 2019 Sales | 2020 Sales | % Change |
| Georgina | 10 | 22 | 120% |
| Beaverton | 1 | 2 | 100% |
| Orillia | 6 | 5 | -17% |
| Oro/Medonte | 8 | 14 | 75% |
| Innisfil | 13 | 16 | 23% |
| Ramara | 6 | 22 | 267% |
Commentary
Ramara experienced the highest number of sales with 22 waterfront properties sold in the first half of the year. The average price increased by 9%.
Beaverton had 2 sales during the first half of 2020. The average price cannot be regarded as a relative statistic due to the low volume of sales.
Oro-Medonte’s average sold price is down by 15% however, sales volume increased by 75%. The highest sale price reported in Oro-Medonte was $4,625,000 and the lowest sale price was $749,000, which is 49.2% higher thanthe average low sale price of $502,000 of the other five areas included in our reporting.• The overall average sold price increased by 2% for all the Areas (excluding data for Beaverton) since 2019.
Innisfil’s data included 5 sales in the Friday Harbour Development. The average sale price is $1,483,440 and the median price is $940,200.
The Lake Simcoe waterfront market is extremely active with 116 active listings as @ June 30th.
- There are 33 open listings in Innisfil with an average list price of $1,655, 891 and a median price of $1,530,000.
- In Georgina there are 34 open listings with an average list price of $1,370,614 and a median price of $1,130,000.
All data used in this report was obtained from The Toronto Real Estate Board & OnRegional. This publication is not to be copied or duplicated without the express written permission of Roxanne Henderson. This publication is not intended to solicit buyers or sellers currently under contract with a brokerage.
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