Burnt River Real Estate ~ Market Value Update
Whether you are an owner of a cottage who is considering selling, or a prospective buyer, it is important to be as informed as possible on local market conditions. In my previous career as a managing director at a major Canadian financial institution, I developed a deep appreciation for the importance of sound analytics, and have applied these concepts to glean insights on broader market trends as well as individual property valuation. In an effort to promote greater transparency and efficiency in our local markets, I am pleased to provide monthly in-season statistics and commentary on each of the major lakes in our service area. If you are interested in a more precise valuation of your property, please contact me at (705) 438-3000 or email me and I would be happy to provide a value estimate at no cost.
~ David Donais, Broker of Record/Owner
Burnt River Market Value Update ~ July 31, 2019
Only four sales so far in 2019.
- While listing activity is up slightly from 2018 levels, there have only been four sales so far in 2019, versus 14 during the same period in 2018. It appears that the flooding of the Burnt River earlier this year has significantly impacted market activity. Of the four sales so far in 2019, two of the properties are not on the flood plain and the other was sold prior to the flood.
Burnt River Market Value Update ~ June 30, 2019
Only three sales so far in 2019.
- While listing activity is in line with 2018 levels, there have only been three sales so far in 2019, versus 10 during the same period in 2018. It appears that the flooding of the Burnt River earlier this year has significantly impacted market activity. Of the three sales so far in 2019, two of the properties are not on the flood plain and the other was sold prior to the flood.
Burnt River Market Value Update ~ May 31, 2019
Only two sales so far in 2019.
- It appears that the flooding of the Burnt River earlier this year has impacted market activity, with both new listings and sales lower than in the same period in 2018.
Burnt River Market Value Update ~ May 15, 2019
Only one sale so far in 2019.
- While the number of new listings so far in 2019 is only slightly down from the same period in 2018, there has been only one sale in 2019 versus five in 2018.
- It remains to be seen what impact the flooding of 2019 will have on market activity going forward.
2018 Burnt River Market Value Summary
- This analysis is based on the portion of the Burnt River within the City of Kawartha Lakes.
- The average sale price for waterfront properties on the Burnt River was $383,000 in 2018, up 18% from
$324,000 in 2017, and 60% from $240,000 in 2015. The lowest sale price in 2018 was $135,900 while
the highest was $720,000.
- There were 23 sales in 2018, up from 19 in 2017.
- One metric I track closely to provide insight into pricing trends is the Sale Price-to-MPAC Assessed
Value Ratio. I calculate this ratio for each sale recorded, as well as an average ratio for all sales during
the year. In 2018, the average ratio for the 23 Burnt River sales was 1.66, significantly higher than the
ratio of 1.28 realized in 2017. The average ratio across the six key lakes in our region (Balsam/Cameron/
Sturgeon/Four Mile/Shadow/Head) was 1.38, unchanged from 2017. It would appear therefore that
there is much more upward momentum in prices on the Burnt River than in other areas of the western
- Another indicator of a strong market on the Burnt River is the relatively short period required to sell
a waterfront property. In 2018 the median number of days on the market for properties sold on the
Burnt River was 26 days, much less than the median of 48 days for the six key lakes in our region.
- Other key takeaways from the 2018 market include:
- In contrast to the relatively slow spring market, the fall market for waterfront properties was very
strong across the western Kawarthas. On the Burnt River, eight waterfront properties were sold
post-September 1st, versus five prior to June 1st.
- Buyers almost uniformly desire to use their cottages year-round – if you have a three-season
property, it would be well worth your while to investigate the feasibility of enhancing it to four-
- Looking forward, I am hoping that the strong momentum from the fall 2018 market will carry into 2019.
However, while the prospect of higher interest rates in 2019 appears to be receding, the late-2018
correction in financial markets has the potential to dampen buyer demand for waterfront properties.
As always, real estate market conditions in the GTA will heavily influence our market.
Read Other Kawartha Lakes Market Value Updates