Lake Simcoe Waterfront Report | 2020 Annual Review
In 2020, the waterfront market was not excluded from the bounty of residential sales activity across Ontario, particularly in southern Ontario.
There was a total of 228 sales in 2020, an increase of 82% over 2019. These sales occurred in the predominant market areas we have been monitoring and reporting on for the past 15 years, which include:
According to the sales reported by the The Toronto Real Estate Board (TTREB), the average price of waterfront properties on Lake Simcoe was $1,244,646, which is a year-over-yearincrease of 27%.
There were nine (9) Luxury waterfront sales (sale price over $3M) reported by TTREB and there were two (2) private sales. Luxury sale prices ranged from $3.2M to $7.995M. The majority of these properties are located in the Oro-Medonte area and two sales were in the Barrie/Innisfil area. These two areas continually report the highest priced sales onLake Simcoe.
Ramara Township experienced a huge surge in waterfront sales activity with 55 sales reported by TREB, representing a 323% increase in sales compared to 2019.
Only direct waterfront sales on Lake Simcoe are recorded in our sales data in order to protect the integrity of the true market value of waterfront property. Therefore, Lagoon City canal front properties are excluded from our reporting.
(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.
SUMMARY as of DECEMBER 31st, 2020
AVERAGE SALE PRICE
2019 Avg. Sale Price
2020 Avg. Sale Price
TOTAL NUMBER OF SALES
5-YEAR ANALYSIS – AVERAGE SALE PRICE
2016 Avg. Sale Price
2020 Avg. Sale Price
Ramara waterfront increased in value by 37% over the five-year period since 2016. The average sale price in 2020 was $953,373, which rose by 15% over 2019 sales.
Beaverton experienced a 23% year-over-year increase to the average selling price. The number of sales increased by 67%. In the 4th quarter, there were three (3) high-end sales ranging in price from $1,630,000 to $2,005,000. Of the 15 sales in 2020, two (2) of these sales were rare vacant waterfront lots. Beaverton waterfront prices on Lake Simcoe has escalated by 73% since 2016.
Orillia trailed all other areas with less active listings and number of sales reported in 2019 and again in 2020. The average days on market was a mere 12-days. Because of the lower number of active listings, it appears a higher demand for desirable waterfront properties has been created.
Oro-Medonte’s average selling price reached $1,798,185 (which excludes the sale of a luxury estate sold in December 2020 for $7,995,000). Oro-Medonte’s average selling price consistently outperforms all other areas on Lake Simcoe due to the size of the estates located just north of Barrie on or near Ridge Road.
Innisfil’s average sale price increased to $1,516,251 an increase of 27% in comparison to 2019. Sales increased by 35% with a total of 46 sales report in 2020.
PROJECTED REAL ESTATE MARKET CONDITIONS:
At Chestnut Park/Christie’s International Real Estate, we believe the market will continue to perform at the same rate as we experienced in 2020. There are three main factors contributing to our opinion which include:
The Pandemic — For this first time in decades, Stats Can reported that Metropolitan Toronto experienced a decline of 50,300 in population from July 2019 to July 2020. Conversely, areas in the GTA and other areas of southern Ontario absorbed this population migration.
Mortgage Interest Rates – We are at this time experiencing the lowest interest rates recorded in history. This week, The Hanley Mortgage Group, (a preferred mortgage brokerage firm of Chestnut Park) posted their variable and 5-year special rate of 1.6%. Rates are expected to continue to stay low with no anticipated Bank of Canada rate increase projected or expected for 2021 and into the first half of 2022.
Government Stimulus — The current government is committed to a $100 Billion Stimulus Package to ease the economic impact of the COVID-19 crisis in order to build the economy and help keep Canada on its positive growth path.
We identified a number of market trends that are accelerating the demand for waterfront property on Lake Simcoe which include:
Lake Simcoe is a desirable area to own a recreational property due to its close proximity to Toronto, which encourages property owners to maximize their usage compared to other cottage areas where travel distance is a factor.
Most waterfront communities on Lake Simcoe offers a plethora of local amenities and services including high-speed Internet, natural gas, and municipal sewer and water services.
More and more property owners are designating their recreational property as their permanent home, especially since the pandemic has forced some/many people to work from home. This trend may continue even after the pandemic has finally subsided as many employers are changing their corporate culture to allow more flexible work-from-home arrangements.
According to the National Benefits Hub Research Group, “the rural activity lifestyles were linked to the quality of life and health of residents, supporting the assumption that there is a connection between the “recreation variable” and quality of life and health in rural areas.”
Due to the high volume of waterfront properties sold in 2020, we anticipate there could be a shortage of inventory available in 2021. Should this occur, prices will most likely continue to accelerate due to the higher demand as more buyers seek a waterfront property on Lake Simcoe.
All data used in this report was obtained from The Toronto Real Estate Board.
This publication is not to be copied or duplicated without the express written permission of Roxanne Finn or Claxton Finn.
This publication is not intended to solicit buyers or sellers currently under contract with a brokerage.
Just Listed on Lake Simcoe: 968 Degrassi Cove Pl W, Innisfil
This custom home direct waterfront home was built in 2000 by the current owner and has served as a sanctuary for family and friends. Over their 22 years of ownership, they have enjoyed the property during every season.
Degrassi Cove is a small and exclusive waterfront community and share the private road. The forested lands on the opposite side of the street provide great privacy. There is no vehicle traffic other than the neighbours, so it is very safe for kids.
Built as a 4-season home and located on the west-side of Lake Simcoe. You will enjoy north-west facing views of the lake and sunsets. There are no stairs to the water’s edge. The water table is level to the lot, which offers a beautiful beach area along the shoreline. There is great swimming and boating. The portable dock is 65 ft long with a 12’ x 12’ patio area. Boating enthusiasts can store their boat in the dry boathouse. Entertaining on the lake is so easy!
The home offers 2,700 sf on the main and upper level. The principal rooms offer generous space including a large private family room, formal dining room, large great room combined with the eat-in kitchen. In addition, there is 1,535 sf of finished space on the walk-out level. There are four generous size bedrooms. The primary bedroom is situated on the main level and overlooks the lake, and includes a five-piece ensuite, a walk-in closet and a garden door to the lakeside patio area. The three other bedrooms are located on the second floor.
The lower level includes a large recreation room with wood-burning fireplace and a walk-out to the lake. A large office with a built-in desk and bookcases can serve as a large 5th bedroom. The 3-piece bathroom is also equipped with a partially finished cedar-lined sauna. There is plenty of storage space on this level too.
Photography by @ishutterphoto
Staging by @chateau_designandstaging
This professionally designed custom-built home embodies a comfortable, vintage cottage feel built with energy efficient maintenance-free materials. This home offers a private park-like setting, with in- town conveniences. It’s a nature lover’s lot…a sanctuary for birds and wildlife. This one in in a million home was showcased in a 16-page spread in Cottages & Bungalows Magazine.
Shiplap walls and wood slat ceilings throughout impart a cabin-like coziness. The primary bedroom is secluded on the main floor overlooking a wooded area that surrounds the property. The front office duals as an additional main floor bedroom adjacent to a 3-piece bathroom. The upper level includes two additional bedrooms that provide enhanced privacy for guests. One of the bedrooms functions as a seating area with a Murphy bed and small kitchenette. It has been designed as a secure space for future rental opportunity.
Located in the charming lakeside village of Bayfield, this property is a stone-throw away from Lake Huron, a short walk to town, the fishing pier and marina, Pioneer Park and the Community playground. This spectacular property backs on to a designated environmental area and surrounded by trees makes it an ideal retreat for entertaining family and friends.
It’s no secret that green has been trending in a major way lately. Not only does the leafy shade conjure the sensation of being outdoors after two years cooped up at home, it also is a versatile (and welcome) alternative to traditional colors like white and gray.
Sweet 3 bedroom home that has a light and airy feel to the interior. Vaulted ceiling with open concept design creates a welcoming feel with plenty of natural sunlight all afternoon. Hardwood floors in bedrooms. Updated interior ready to be moved in to. It is a special place to call home or cottage.
Large wrap-around deck features West-facing views of 2-acre park of which you would be a 1/10th owner. Private dock for all park owners. Deeded Lake Simcoe access is rare to find. Very private setting with mature trees.
Message us today for more information or to book private showing.
staging by @chateau_designandstaging
photography by @ishutterphoto
20 Quiet Heights Lane, Georgina provides views of the lake from all spaces on the west side of them home, including the great room, kitchen, dining area, and primary bedroom.
You will enjoy the morning sunrise from the front covered porch and of course, sunset views from the lakeside. The natural sunlight fills the home with warmth and light all day long. It’s tranquil, serene, and welcoming.
In the design stages, the current owner had some important “must-have’s” including a Muskoka like feel, spaciousness, sun-filled rooms, and an “understated elegance“ carried throughout the home.
Some of the interior features include:
– 3 bedrooms on main level and 2 additional bedrooms on the lower level
– 3 full bathrooms plus powder room
– 10.9 ft ceiling height on the main level and 9 ft ceiling height on the lower level
– Great room includes custom millwork and 13 ft vaulted coffered ceiling
– Gourmet kitchen with upgraded appliances
– Spectacular light fixtures including ceiling fans in each bedroom
– Custom drapery and blinds
– Radiant heated floors in kitchen, primary ensuite and the entire lower level
– Surround sound system both indoors and outdoors
A full list of room features, additional images, virtual tour, and more can be found on our website (link in bio).
This listing is also available on realtor.ca (MLS# N5657656)
When you combine the attention to detail of a quality builder with the owner’s vision to create a sanctuary home, the result is spectacular.
This home offers a “Zen” feel immediately upon your arrival.
The landscaping is wonderfully appointed with a collection of perennial gardens, shrubs, mature trees and privacy hedges on both sides, which is home to many birds. There are several seating areas promote great conversation with family and friends or a place to enjoy some quiet time when you want to be alone and enjoy nature all around you.
This is a wonderful home to entertain in both indoors and outdoors. The raised balcony includes a covered area where you can enjoy a summer rain shower. The open area provides lots of space for your chaise loungers to get some sun and watch an array of boats on the lake.
The lower deck is covered and a perfect location for the 7-seater plus lounger hot tub along with another separate seating area to enjoy the lake views.
Listing Price: $1,935,000
DM us to book a private viewing.
The full listing can be found on our site & on realtor.ca (MLS# N5657656)