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Lake Simcoe Waterfront Update: 1st Quarter Review 2023

Executive Summary

The waterfront market on Lake Simcoe has been extremely lackluster during the first three months of 2023. Georgina was the only area that reported any notable volume of sales. There were six sales in Georgina with an average price of $2,283,167.

Innisfil reported three sales, all of which were townhomes in the Friday Harbour Development. Prices ranged from $1,530,000 to $2,900,000.

Orillia reported one small sale at $695,000.

Ramara reported two direct waterfront sales. There were canal properties in Lagoon City that sold however, we only report on Lake Simcoe waterfront sales in our analysis.

Oro-Medonte reported two sales priced from $1,621,500 to $1,640,000, both of which were small properties not typical of the waterfront sales in this luxury community.

Beaverton reported zero sales in the first quarter.

First Quarter of 2022

In 2022, we reported a low volume of sales. There were 31 sales compared to a total of 14 sales this year, a reduction of 55%. Incidentally, the first quarter of 2021, there were 55 sales, a reduction of 75% in 24-months.

Average Sale Price

Our quarterly reports typically include average sale price data for each area we service, but with limited sales activity, the data is inconclusive.

Active Listings

At the time of writing this report, active listings in each area included:

Georgina11$1,548,500 – $2,948,000
Beaverton4$989,000 – $2,980,000
Orillia4$1,475,000 – $2,499,000
Oro-Medonte4$1,600,000 – $8,000,000
Innisfil17$1,299,700 – $2,699,000
Ramara5$1,400,000 – $4,000,000
Barrie2$1,788,888 – $2,395,000

Consumer Demand on the Rise For Waterfront on Lake Simcoe

There are several reasons why buyers may be attracted to own waterfront properties on Lake Simcoe:

  • Lake Simcoe is a large and picturesque lake that offers a range of recreational activities such as boating, fishing, swimming, and water sports. The scenic beauty and proximity to nature are attractive to many buyers who want to escape the hustle and bustle of city life.
  • Lake Simcoe is home to many major urban centers such as Toronto, Barrie, and Orillia. This makes it a convenient location for those who want to own a waterfront property while still having access to the amenities of a city.
  • With its growing popularity and proximity to major urban centers, waterfront properties on Lake Simcoe have proven to be a good investment. As demand for these properties increases, so does their value, providing an opportunity for buyers to realize a return on their investment.
  • The Lake Simcoe area has a strong sense of community, with many local events and festivals throughout the year. This can be attractive to buyers who want to be part of a close-knit community and enjoy the benefits of living in a smaller town or city.

Forecast for 2023

Lake Simcoe is a popular destination for recreational properties that attract buyers looking for a weekend getaway or a permanent home with a waterfront view.
In terms of projections for 2023, it is difficult to say for certain how the market will perform. Many factors can influence the demand for recreational properties, such as the state of the economy, interest rates, and consumer preferences. However, if the current trend of high demand and low inventory continues, it is possible that prices could continue to rise in the short term.
One trend we see is the demand for the premiere properties priced over $2M. Although there were a limited number of these properties listed in the first quarter, it appears, based on the reported sales this segment of the market has been robust and we anticipate this trend to continue if inventory levels rise.

If you would like to obtain a copy of our full report, please email us at Roxanne@ChestnutPark.com or call 289-338-0767.

Please go to www.CityHouseCountryHome.com for additional real estate-related articles and featured properties currently for sale.

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.

This publication is not intended to solicit buyers or sellers currently under contract with a brokerage.

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