'We had no idea that the prices on this lake would escalate that high' Cottage country sales spike

Sales spike for waterfront properties Realtors in Ontario cottage country are reporting an increase in demand for property as the pandemic rolls on.

Lake Manitouwabing, Ont. — People from across Ontario are flocking to cottage country to escape the big cities, favouring working remotely with a view of the lake.

According to the Lakelands Association of Realtors, last month, 250 waterfront properties sold - a record that is 267.6 per cent more than in April 2020.

"Your average price is $700,000 for any place in the district. That includes Haliburton, Muskoka, Parry Sound residential and waterfront properties combined," said Chuck Murney, president of the Lakelands Association of Realtors.

Murney said two of the driving forces are the ongoing pandemic, with more people working from home and those retiring early.

Mississauga couple Brenda and Tom Harrison purchased their cottage on the shores of Lake Manitouwabing 12 years ago.

Since then, they have spent the summer months at the lake but returned to the GTA once the weather cooled.

But that all changed last year.

"We actually moved up here just before the pandemic because we were doing renovations - wasn't planning on staying the whole winter - but when the pandemic hit, we stayed," Tom explained.

The couple said they've enjoyed their time so much that they are now considering making the cottage their permanent residence and selling their Mississauga home.

"We love the nature. We go for long walks in the area. It's a great place to be," said Brenda.

Recently, the couple said they have been receiving phone calls from eager realtors looking to sell their lake property— estimating they could triple their investment.

"We've had real estate agents calling us telling us they can list our place for a million dollars," said Tom.

"We had no idea that the prices on this lake would escalate that high," said Brenda.

Even though there would likely be a long list of buyers, the couple said they are not interested in selling anytime soon.