Where Waterfront Views Are More Affordable
Downtown Toronto has emerged as one of the most accessible spots in the GTA for those seeking waterfront living without breaking the bank. Neighbourhoods like Corktown, CityPlace, and the Entertainment District are posting some of the lowest median sold prices for waterfront properties in the region, ranging from approximately $632,000 to $650,000.
What makes these areas particularly intriguing is the slim gap between waterfront and non-waterfront home prices—sometimes as little as $3,000. This challenges the long-standing belief that any home near the water will automatically come at a steep premium. The reason? These downtown areas are predominantly composed of condominiums, offering more modest-sized units with shared amenities, rather than expansive single-family homes.
Where Waterfront Living Still Commands Top Dollar
In contrast, certain neighbourhoods continue to reflect traditional waterfront pricing. Communities like Eastlake and West Oakville, along with Burlington’s Roseland, are seeing median sold prices for waterfront homes soar well past the $1.5 million mark. In Eastlake specifically, waterfront properties are averaging $2.7 million, making it one of the priciest lakefront locales in the GTA.
Interestingly, not all trends are consistent. In Old Oakville, the typical non-waterfront home actually costs more than a waterfront one—by roughly $250,000. This anomaly defies conventional market expectations and underscores how hyper-local nuances continue to shape the region's real estate landscape.
Underbidding in Luxury Markets
Despite sky-high list prices in upscale neighbourhoods like Eastlake, many homes are actually selling below asking. The prevalence of custom-built homes in these areas can skew pricing expectations. Without direct comparables, sellers may test the market at higher price points, only to settle for lower offers. For buyers, this opens the door to negotiation—particularly if they're working with an experienced real estate professional who understands the complexities of the local market.
The Bottom Line
Waterfront living in the GTA is no longer reserved for multi-millionaires. Whether you're looking for a downtown condo with views of the lake or a larger home in a luxury enclave, today’s market offers more choice—and in some cases, more value—than it has in years.
Understanding where these opportunities lie and how to act on them requires a nuanced approach. As always, if you’re considering buying or selling in Burlington or anywhere along the shoreline, local expertise makes all the difference.
Ready to Find Your Waterfront Home?
Whether you're dreaming of a serene lakeside retreat or a modern condo with water views, the Greater Toronto Area has more to offer than ever before—often at a price that might surprise you. The key is knowing where to look and when to act.
If you're considering a move to Burlington or anywhere along the GTA shoreline, I’d love to help you navigate the market with confidence. Reach out today to start your waterfront home search with expert guidance and a personalized approach tailored to your goals.
Let’s find the view you’ve been waiting for.
