Mitchell 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


Mitchell Lake Market Value Update ~ August 31, 2020

    Strong year but listing inventory has dried up

  • There was only one sale in August and one active listing as at August 31st.
  • There have been 15 sales on Mitchell Lake so far in 2020, much higher than in the same period in the previous two years. This increased activity is consistent with trends across most of the western Kawarthas, where buyer demand and sales have been very strong and prices have been rising. Refer to my "Western Kawarthas" analysis for more detail.
  • The average sale price of the 14 sales so far this year is $523,000, up 25% from the $420,000 average sale price for all 8 Mitchell Lake sales in 2019.
  • The average sale price-to-MPAC assessed value ratio for the 14 sales so far 2020 is 1.62, up 12% from the average 1.45 ratio for the 8 Mitchell Lake sales in all of 2019.


Mitchell Lake Market Value Update ~ July 31, 2020

    Strong year continues on Mitchell Lake

  • There have been 14 sales on Mitchell Lake so far in 2020, much higher than in the same period in the previous two years. This increased activity is consistent with trends across most of the western Kawarthas, where buyer demand and sales have been very strong and prices have been rising. Refer to my "Western Kawarthas" analysis for more detail.
  • The average sale price of the 14 sales so far this year is $513,000, up 22% from the $420,000 average sale price for all 8 Mitchell Lake sales in 2019.
  • The average sale price-to-MPAC assessed value ratio for the 14 sales so far 2020 is 1.61, up 11% from the average 1.45 ratio for the 8 Mitchell Lake sales in all of 2019.


Mitchell Lake Market Value Update ~ June 30, 2020

    Strong start to the 2020 selling season.

  • There have already been 9 sales on Mitchell Lake so far in 2020, much higher than in the same period in the previous two years. This increased activity is consistent with trends across most of the western Kawarthas, where buyer demand and sales have been very strong and prices have been rising. Refer to my "Total Western Kawarthas" analysis for more detail.
  • The average sale price of the 9 sales so far this year is $470,000, up materially from the $420,000 average sale price for all 8 Mitchell Lake sales in 2019.
  • The average sale price-to-MPAC assessed value ratio for the 9 sales so far 2020 is 1.44, in-line with the average 1.45 ratio for the 8 Mitchell Lake sales in all of 2019.


Mitchell Lake Market Value Update ~ April 30, 2020

    Strong start to the 2020 selling season.

  • There have already been four sales on Mitchell Lake in 2020, higher than in the same period in the previous two years. The four sales consisted of three year-round properties and one seasonal property.
  • The average sale price-to-MPAC assessed value ratio for the four sales in 2020 was 1.33, down slightly from the average 1.45 ratio for the eight Mitchell Lake sales in 2019.

  • The Covid-19 crisis has resulted in a significant slowdown in both listings and sales across the western Kawarthas, leading to great uncertainty in the market going forward. At the present time there is no evidence of falling prices for waterfront properties and sellers are for the most part holding firm to their asking prices. The emerging trends of working from home and cottage vacationing as a replacement for air-travel vacations bode well for demand in the medium term, while the impending recession/depression represents a threat to short-to-medium term valuations.

2019 Mitchell Lake Market Value Summary


  • The data in this analysis captures waterfront real estate sales on Mitchell Lake and on the Trent- Severn Waterway (TSW) from Balsam Lake to the Kirkfield Lift Lock.
  • Eleven Mitchell Lake properties were put on the market in 2019 and eight (73%) sold. Four (50%) of the eight sold properties required one or more price reductions. Across the 10 key lakes and rivers across the western Kawarthas, of the 302 properties that were put on the market in 2019, 185 (61%) sold, and 73 (39%) of the sold properties required price reductions.
  • The average sale price of $420,000 in 2019 was down 2% from 2018. Sale prices in 2019 ranged from a low of $232,000 to a high of $715,000.
  • 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 2019, the average ratio for the eight Mitchell Lake/TSW sales was 1.45, down 9% from the historically high ratio of 1.59 in 2018.
  • Across the 10 key lakes and rivers in the western Kawarthas the average sale price-to-assessed value ratio for the 185 waterfront sales in the region was 1.44, up 3% from 1.40 in 2018.
  • Looking forward, I am cautiously optimistic that 2020 will be a positive year for the waterfront market. I noticed strong momentum in the fall months – almost half of Kawartha Waterfront Realty’s 2019 sales took place after September 30th, and buyer inquiries to our office have remained strong in the early winter months. Real estate market conditions in the GTA also appear to be improving, which helps fuel demand for waterfront properties.

Mitchell Lake Market Value Update ~ October 15, 2019

Listing and sales activity are up from 2018 levels

  • There have been three new listings and one sale on Mitchell Lake since September 1st, in contrast to no new listings or sales in the same period last year.
  • The average sale price for the six sales so far in 2019 is $404,000, down from the $430,000 average sale price for all sales in 2018.
  • The average sale price-to-assessed value for the four sales in 2019 sales is 1.44, down from the average of 1.59 for all sales on Mitchell Lake in 2018.
  • There were five listings on Mitchell Lake as at October 15, 2019.



Mitchell Lake Market Value Update ~ August 31, 2019

Listing and sales activity in line with 2018 levels

  • The seven new listings since January 1, 2019 are in line with the number of new listings in the same period last year.
  • There were two sales in August 2019, and a total of four sales so far in 2019.
  • The average sale price for the four sales so far in 2019 is $470,000, up from the $430,000 average sale price for all sales in 2018.
  • The average sale price-to-assessed value for the four sales in 2019 sales is 1.49, down from the average of 1.59 for all sales on Mitchell Lake in 2018.



Mitchell Lake Market Value Update ~ July 31, 2019

Listing and sales activity in line with 2018 levels

  • The seven new listings since January 1, 2019 are in line with the number of new listings in the same period last year.
  • There have been two sales so far in 2019.



Mitchell Lake Market Value Update ~ June 30, 2019

Listing and sales activity in line with 2018 levels

  • The six new listings since January 1, 2019 are in line with the number of new listings in the same period last year.
  • There have been two sales so far in 2019.



Mitchell Lake Market Value Update ~ May 31, 2019

Listing activity in line with 2018 levels

  • The six new listings since January 1, 2019 are in line with the number of new listings in the same period last year.
  • There has been only one sale so far in 2019.



Mitchell Lake Market Value Update ~ May 15, 2019

Listing activity in line with 2018 levels

  • The five new listings since January 1, 2019 are in line with the number of new listings in the same period last year.
  • There have been no sales so far in 2019.


2018 Mitchell Lake Market Value Summary

  • The data in this analysis captures waterfront real estate sales on Mitchell Lake and on the Trent Severn Waterway (TSW) from Balsam Lake to the Kirkfield Lift Lock.
  • The average sale price for waterfront properties was $430,000 in 2018, up 17% from $367,000 in 2017 and 20% from $359,000 in 2016. Sale prices in 2018 ranged from a low of $385,000 to a high of $569,000.
  • There were only eight sales in 2018, approximately half the sales volumes recorded in 2017 and 2016.
  • 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 eight Mitchell Lake/TSW sales was 1.59, up 15% from 1.38 in 2017 and 43% from 1.11 in 2016.
  • While it is hard to make any definitive conclusion on year-over-year pricing trends on Mitchell Lake/TSW given the relatively low number of data points, the increase in both the average sale price and the Sale Price-to-MPAC Assessed Value Ratio is encouraging. In comparison, this latter ratio when calculated across six other key lakes in the western Kawarthas (Balsam/Cameron/Sturgeon/Head/Shadow/Four Mile) was stable year-over-year at 1.38.
  • 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.
    • 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- season capability.
  • 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

Contact Kawartha Waterfront Realty

Call: 1 (877) 992-9927 or Email


Kawartha Lakes Heritage Postcards

We have a great appreciation for the history of the lakes we service, and are pleased to share with you some of the heritage postcards we have collected.

Pleasant Point boathouse, docks, lake & boats   ca. 1940 ~ Sturgeon Lake

Recognize, know a story or details about these vintage Kawartha scenes? Join us on facebook and instagram to share! We would also be delighted to share your heritage photographs and related stories - please email to David.

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