Lake Erie Waterfront Cottage Inventory

This is a follow-up to a post from last week that made the case for Leamington, Kingsville and Colchester as an alternative destination for those in the GTA or parts inbetween looking for a cottage or recreational property.   The north shore of Lake Erie has a distinct geographic advantage that combines a beautiful lakefront with a favorable climate and a generally longer summer than most areas of the province.

Perhaps the biggest advantage however is the region’s position in the provincial real estate market.  Overall, the area has some of the most reasonably priced homes meaning your recreational dollar goes a lot further here compared to some of the more established cottage markets in Ontario.  To  illustrate this, it is useful to dive a little deeper into the available waterfront inventory (as of May 29, 2012) to see exactly what we mean.

Currently, between Kingsville, Leamington, Essex and Wheatley, there are 70 waterfront homes being marketed on realtor.ca.  The average price of these properties is $372,121.  Of this number, there are 17 homes that are listed under $200,000 and 2 that are listed at $1.5 million and above.

Below is a breakdown of listings by area.

  • In Leamington, there are 34 listings with an average price of $318,190.
  • In Kingsville there are 20 properties available.  The averagle list price is $499,380, driven by the large number of luxury waterfront homes as there are 9 properties listed in excess of $500,000.
  • In Essex/Colchester there are 11 properties available with an average price of $340,172.
  • In Wheatley there are 5 properties with an average list price of $252,096.

In sum, it’s apparent that there is a good supply of waterfront property available in the area.  The buy-in price is under $100,00 (3 below this price) and there are many properties available under $200,000.  The data further shows that there is a good supply of luxury waterfront properties in which you get amenities not seen at this price point in most other places in the province.  Considering a moneyville article from last May which suggested the averagle Lake Muskoka cottage was $1.2 Million this area may in fact be a greal alternative as a cottage destination.*

For access to information about the listings that have been mentioned or for more detailed information about the area, please fill out the contact form below.  Better still, contact Sales Representative Brad Reiter at 519-326-6154 to arrange a personal tour of the area.

*http://www.moneyville.ca/article/997282–average-lake-muskoka-cottage-is-1-2m

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