The first quarter of 2022 revealed a very slow start to the year for waterfront sales. Inventory levels were down considerably since 2021. Due to the low number of sales, the overall change year-over-year is not a reliable indicator of market values for 2022.
This first-quarter review will examine the key Lake Simcoe waterfront markets of:
The overall average price of waterfront property in Georgina climbed by 104% since the previous year however, this data is based on the small number of sales reported in Q1.
- Georgina reported one significant sale of $3,000,000 on a list price of $3,200,000. The lowest selling price reported was $1,430,000 on a list price of $1,299,000.
- Beaverton also had a significant sale on Moorlands Drive of $3,800,000 on a list price of $3,999,000.
- Oro-Medonte currently has only two listings on MLS, both in Shanty Bay and priced at $6,850,000 and $18,900,000 respectively.
- Ramara has 6 active listings on MLS, 2 of which were listed in 2021 and expired in the Q4 of 2021. Both properties have been relisted in Q1. Ramara reported 8 sales in the range from $972,500 to $1,918,000. The average days on market was 25.
- Orillia’s sales volume was minimal with only 2 sales reported. There are currently 4 properties for sale ranging in price from $1,449,900-$3,599,000.
- Innisfil reported 6 sales in Q1 ranging in price of $1,300,000 to $2,2025,000. There are currently 7 properties listed, 4 of which are in Friday Harbour and the list prices range from $2,200,000 to $2,999,000.
In total, there were 31 waterfront sales this year between January and March, a decrease of 44% compared to last years 55 sales.
The only significant market condition that can be a point of reference is the lack of sales activity and lack of inventory of waterfront properties available during the first 3-months of 2022.
(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 with the exception of Friday Harbour.)
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.
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