TORONTO, April 6, 2016 /CNW/ - With the allure of owning a recreational waterfront property in cottage country on the rise, it's no surprise Real Estate Broker Roxanne Henderson's analysis http://goo.gl/n9iKyp of the number of Lake Simcoe waterfront sales in 2015 shows an increase of 15 per cent since 2014.
As an update on other cottage country areas, according to Chestnut Park's Muskoka and Area Report all of the markets encompassed by the Muskoka and Area Realtor's Association reported a 23 per cent increase in sales compared to 2014. The Haliburton Highlands also reported a 30 per cent increase and the Muskoka's big lakes, Lake Joe, Lake Rousseau, and Lake Muskoka, have produced increased sales for three consecutive years. The results achieved are 19 and 31 per cent in 2014 and 2015.
Lake Simcoe Recreational Property Highlights:
- Many Lake Simcoe dwellers describe waterfront property as their second home rather than their seasonal cottage.
- Lake Simcoe's proximity to Toronto enables homeowners to enjoy their recreational property all year long.
- With 240 km of shoreline around Lake Simcoe and several distinct communities it is not surprising to see a wide range of market values around the Lake.
- Construction continues to dot the shoreline as more people are building new homes or substantially renovating their existing waterfront homes.
- There were a total of 137 waterfront sales reported in 2015 by The Toronto Real Estate Board compared to 119 sales in 2014.
- Oro-Medonte reported the highest percentage price year-over-year with a 29.3 per cent increase in the average selling price.
Community Highlights: http://goo.gl/2f0Wpp
Georgina's waterfront sales continue to demonstrate strong growth and demand by buyers in a wide price range. The close proximity to Toronto makes this area popular with commuters to Toronto and the GTA.
Beaverton waterfront real estate is a bargain when compared to other areas, particularly since most properties are direct waterfront with the shoreline deeded to the property. The remarkable feature of the eastern shore is the gorgeous western sunset views that are unprecedented in other areas with few exceptions.
The Oro-Medonte area is particularly popular with buyers seeking a waterfront home that also offers quick access to ski country during the winter months. This area enjoyed the largest increase in the average selling price year-over-year.
In 2015, Innisfil experienced a reduction in the average selling price since 2014. This is due to a reduction in the number of sales over $1.5 million that dropped from 7 sales in 2014 to only two reported sales in 2015.
Orillia had a consistent number of sales with an average increase to waterfront values of 9.7 per cent. The waterfront market has been performing consistently over the past 24-months in this area, which is considered the most northerly point on Lake Simcoe.
For reporting purposes we have not included sales under $300,000 and only Lake Simcoe properties were included in the analysis. Riverfront properties were excluded. All statistics obtained from both Toronto and Barrie Real Estate Boards.
SOURCE City House Country Home
Image with caption: "City House Country Home - Lake Simcoe waterfront 2015 annual market review (CNW Group/City House Country Home)". Image available at: http://photos.newswire.ca/images/download/20160406_C3127_PHOTO_EN_658535.jpg
For further information: For a copy of the full report or for an interview please email Roxanne Henderson at Roxanne@ChestnutPark.com or call at 289-338-0767.