An area popular with buyers seeking a waterfront home that provides quick access to ski country during the winter months, Oro-Medonte includes the areas of:
- Shanty Bay
- Rural Oro-Medonte
Since the Barrie Real Estate Board is the primary board serving the Oro-Medonte area we have relied on their statistics published at year-end for our analysis.
The average size of the water frontage was 93 linear feet in 2015 versus 90.7 linear feet in 2014. It is interesting to note that although there was a large increase in the average sale price year-over-year from $822,239 to $1,074,085, the waterfront homes sold in 2015 were only slightly larger with an average of 2,281 square feet in 2015 versus 2,144 square feet in 2014.
Also important to note is that Shanty Bay, a sub-area of Oro-Medonte, is an exclusive area located on the northwest shore of Lake Simcoe known for it’s large estate homes on the water.
In 2014 there was only one sale reported in Shanty Bay, a 4,115 square foot home that sold for $2,288,000. In 2015, there were three sales at $3,800,000, $1,981,666 and $1,025,000.
The historic lakefront community of Georgina includes:
- Roches Point
- Balfour Beach
- Willow Beach
- Jackson’s Point
- Sutton West
- As well as a few other small pockets of fine homes.
With 41 sales in 2014 with an average sale price of $679,912 and 45 sales in 2015 with an average sale price of $850,068, the area saw an increase of 21.6 per cent year-over-year. It is important to note that this increase does reflect two private sales in Roches Point at $3 million and $1.5 million that we brokered exclusively.
The area’s average size of water frontage in 2015 was 63.2 feet and derives a $10,366 value per linear foot.
While Georgina waterfront sales continue to demonstrate strong growth and continuous demand by buyers in a wide price range, it is the close proximity to Toronto that makes the area popular with commuters and recreational property owners.
Considered to be the most northerly point on Lake Simcoe, Orillia had a consistent number of sales with an average increase to waterfront values from $749,591 to $823,182 for a 9.7 per cent increase. It is important to note, however, that one sale of the recorded 11 was quite large at $2,200,000, which slightly distorts the average since the highest sale in 2014 was $1,499,900.
The waterfront market has been performing consistently over the past 24-months in this area. Buyers are attracted to this area as their purchasing power buys them a larger home compared to some of the other areas being reported on Lake Simcoe.