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Lake Simcoe Waterfront Update: 2nd Quarter Review 2023

Executive Summary

The waterfront market continues to show a decline in market value during the first half of 2023 in most communities surrounding Lake Simcoe. All areas, except Innisfil are reporting a decrease in the average selling price compared to the mid-year results of 2022. On a positive note, sales volume is up in all areas except Georgina and Ramara.

There were 51 waterfront sales as of June 30, 2023, a slight reduction from 2022 when we reported a total of 55 sales. The average price across all areas in 2023 is $1,755,104 compared to $1,897,490 in 2022, a reduction of -7.5%.

Georgina recorded 3 sales in the 2nd quarter with a total of 9 sales by June 30th, a -25% reduction. The average price was down by -9.5%.

Innisfil reported a total of 13 sales since January 2023. 10 of these sales occurred in the 2nd quarter with prices ranging from a low of $1,370,000 to a high of $8,000,000. 50% of total sales were townhomes in the Friday Harbour Development with prices ranging from $1,520,000 to $3,875,000.

Orillia reported 5 sales in the 2nd quarter with a total of 6 sales in the first half of 2023. The average price dropped by –15% year over year.

Ramara reported three direct waterfront sales in the 2nd quarter and a total of 5 sales by mid-year. The average price dropped by -10.7%. There were several sales of canal properties in Lagoon City however, we only include shoreline sales in our analysis.

Oro-Medonte waterfront sales increased by +71.4% year-over-year. Prices remained flat in 2023 with an average sale price of $2,022,209. Prices ranged from a low of $920,000 to a high of $3,900,000.

Beaverton reported 6 sales in the 2nd quarter. There were no luxury sales (over $2 million), which reduced the average sale price to $1,053,842, a reduction of -47.8%.

2023 Lake Simcoe Waterfront Review
Mid-Year Average Sale Price : Year Over Year Change


Active Listings

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

GEORGINA12$1,374,000 – $2,099,000
BEAVERTON5$ 999,000 – $2,880,000
ORILLIA7$1,598,000 – $2,749,900
ORO-MEDONTE6$1,180,000 – $8,000,000
INNISFIL27$1,200,000 – $2,990,000
RAMARA14$ 980,000 – $6,800,000

What’s the Best Part of Lake Simcoe to Own Waterfront?

Owning a waterfront property on different sides of Lake Simcoe can offer varying experiences and advantages. Here are some potential differences based on the cardinal directions:

  • North Side: The north side of Lake Simcoe generally offers a more rural and tranquil atmosphere. Properties on the north side may have larger lots and more secluded settings, providing a greater sense of privacy. The northern shoreline often features expansive views of the lake and can be ideal for those seeking a serene and nature-focused environment.
  • South Side: The south side of Lake Simcoe tends to be more developed and populated. Properties on the south side may be closer to towns and urban amenities, offering convenient access to services, shopping, and entertainment options. The southern shoreline may also have more established communities and a greater range of housing options.
  • West Side: The west side of Lake Simcoe is known for its picturesque sunrise views. Properties on the west side can offer breathtaking morning vistas and the opportunity to start the day with stunning natural beauty. Additionally, some areas along the western shoreline may have a more rugged or rocky terrain, adding to the scenic appeal.
  • East Side: The east side of Lake Simcoe often benefits from beautiful sunsets. Properties on the east side allow residents to witness the sun sinking below the horizon, casting a warm glow over the lake. This can create a tranquil and romantic ambiance. The eastern shoreline may also offer sandy beaches and gentler slopes, which can be appealing for swimming and recreational activities.

Is Recreational Property Ownership Right for You?

The demographic profiles of individuals owning recreational real estate can vary based on several factors such as location, property type, affordability, and personal preferences. However, here are some general characteristics often associated with individuals who own recreational real estate:

  • Age: Recreational property ownership tends to be more prevalent among middle-aged and older individuals. Baby boomers and Generation X are often more likely to own recreational properties as they reach a stage in life where they have the financial means and time to invest in such properties. However, there is also a growing trend of younger generations showing interest in recreational property ownership and establishing the property as their principal residence, particularly since work-from-home arrangements have become quite common with corporations.
  • Income and Financial Stability: Owning a recreational property typically requires a certain level of financial stability. Individuals who own recreational real estate often have higher incomes or accumulated wealth that allows them to afford a second property. However, there are also varying levels of affordability within the recreational property market, and ownership can include a range of income levels.
  • Lifestyle and Recreation Enthusiasm: People who own recreational real estate often have a passion for outdoor activities and a desire to have a retreat or getaway from their primary residence. They may enjoy activities such as boating, fishing, hiking, skiing, or simply relaxing in a natural setting. Recreation enthusiasts who want to engage in specific activities often seek out properties in areas that cater to their interests.
  • Proximity and Accessibility: The demographic profiles of recreational property owners can also be influenced by the location of the property. Some owners prefer properties close to their primary residence, allowing for easy access and frequent use. Others may opt for properties in more remote or scenic locations, willing to travel longer distances for occasional use.
  • Family and Lifestyle Stage: Recreational property ownership can be influenced by family and lifestyle considerations. Some owners may purchase properties to create a gathering place for family and friends, while others may view it as a retirement investment or a place to spend leisure time during retirement. The demographic profiles can vary based on whether individuals are purchasing properties for family use, as an investment, or a combination of both.

If you would like to obtain a copy of our full report, please contact Roxanne at Roxanne@Chestnutpark.com.

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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