2014 Recreational Market Re-Cap
A cold, snowy winter followed by a cool wet spring led to record high water levels in many parts of cottage country. The weather impacted Buyer activity until the third quarter when interest increased substantially. Lake levels returned to normal prior to freeze-up however, in many areas high water damaged docks, boathouses and property.
Below is a short synopsis of last year's activity.
* The range for water access vacant land was $50,000 at Malachi to $316,000 on Hay Island, Lake of the Woods and a $700,000 acreage on Thompson Island, Lake of the Woods.
* The range for road access vacant land was $72,000 on the Winnipeg River to $365,000 on Welcome Channel, Lake of the Woods. A vacant leased lot west of Kenora on Lake of the Woods sold for $160,000.
* Three road access vacant lots sold in Sioux Narrows on Lake of the Woods ranging from $172,000 to $196,000.
* Two road access vacant waterfront lots sold in Minaki for $105,000 & $123,000.
* Twelve water access cottages or homes sold ranging from $100,000 in Minaki to $1,975M in Clearwater Bay on Lake of the Woods.
* Three developed island sales; Lake of the Woods near Keewatin 6 acres - $800,000, Lake of the Woods near Treaty Island 1.14 acres - $650,000, and Shoal Lake 1.82 acres - $342,000.
* The average sale price of a road access waterfront seasonal cottage rose in 2014 to $457,517, up from $375,100 in 2013.
* The average sale price of a road access waterfront home (between Longbow Lake and the Manitoba border) was $568,449.
Sales statistics obtained from MLS, Geowarehouse and personal experience and may not include every sale occurring in 2014.