Canal Lake 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
Canal Lake/Trent Severn Waterway Market Value Update ~ May 31, 2019
Strong listing and sales activity so far in 2019.
- In contrast to almost every other lake in the western Kawarthas, new listing volumes and sales are up substantially on Canal Lake and nearby sections of the Trent Severn Waterway so far in 2019. Several of the new listings were also on the market in 2018 and expired unsold.
- There have been eight sales so far in 2019. The average sale price-to-assessed value for these sales is 1.27, versus an average of 1.36 for all sales on Canal Lake in 2018. The average sale price so far in 2019 of $363,000 is also down considerably from the $472,000 average sale price for all of 2018.
Canal Lake/Trent Severn Waterway Market Value Update ~ May 15, 2019
Plenty of new listings so far in 2019.
- In contrast to almost every other lake in the western Kawarthas, new listing volumes are up substantially on Canal Lake and nearby sections of the Trent Severn Waterway so far in 2019. Several of the new listings were also on the market in 2018 and expired unsold.
- There have been three sales so far in 2019, versus two sales in the same period last year.
2018 Canal Lake Market Value Summary
- The data in this analysis captures waterfront real estate sales on Canal Lake and on the Trent Severn
Waterway (TSW) from the Simcoe County boundary to the Kirkfield Lift Lock.
- The average sale price for waterfront properties was $472,000 in 2018, down 6% from $500,000 in
2017, and up 23% from $384,000 in 2016. Sale prices in 2018 ranged from a low of $207,500 to a
high of $825,000.
- There were 17 sales in 2018, down from 24 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 17 Canal Lake/TSW sales was 1.36, up 5% from 1.30 in 2017 and 26% from 1.08 in 2016.
- The relative year-over-year stability of Canal Lake/TSW prices is consistent with sale price data on
most other key lakes in the western Kawarthas.
- 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 Canal Lake, four properties sold prior to June 1st while
nine sold after September 1st.
- Buyers almost uniformly desire to use their properties 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