Real Talk!

There are folks who will argue that Paudash and Baptiste Lakes are the two “premier” lakes in the Bancroft Area… I can think of a number of other quite fabulous lakes, but those two lakes are very typically mentioned as THE lakes- So, I thought I’d share some “info” on these two lakes. This information is available to Realtors ® through MLS ® statistics on the Bancroft Real Estate Board data base.

Both lakes are reportedly favoured by celebrities… and I’m not going to name the names of the rich and famous musicians, movie stars, authors, artists and other celebrated folk who have property or visit property on either lake… because that is one of the “good things” about the area… some of us can keep a secret!!!

According to searches on the MLS ® data base for Bancroft District, I have determined the average selling prices for 2006 and so far, for 2007- for both lakes- the statistics were taken as of 9 a.m. the 31st of May, 2007. It was an interesting exercise and I thought I’d share the results.

Paudash Lake: (Pronounced locally as PAW-DASH) Rated (4) for acid sensitivity, this lake is located in mostly in Cardiff Township. About 755 hectares in surface area with a maximum depth of about 46 meters. There is 15% crown land surrounding the lake and fish species include Lake Trout, bass and Walleye.

In 2006, 12 properties on Paudash Lake SOLD. The average selling price was 95.6% of the asking price or $216,833. The lowest priced sale was a tidy, little 2 bedroom cottage on a smaller lot that went for $119,000 and the highest priced sale (according to the MLS data base) was $330,000 for a grand spot on Joe Bay with 2 bedrooms up and 2 bedrooms down.

In 2007, so far, there have been 3 sales on Paudash. A 2 bedroom sold for $236,000, a 3 bedroom at $389,000 and a 4 bedroom at $375,000- so, the average selling price was about 97.4% of the asking price or $333,333.

There are currently 9 MLS ® listings on Paudash Lake. There are 3 vacant lots, all under an acre, with an average asking price of $60,000. Clearly, these are not in the best location, but will provide access to this well-loved lake.

There is one property that is essentially an upgraded modular with nice shoreline for $199,900, a 3 bedroom with only boat access for $214,900 and two 2 bedroom cottages (one at $239,900 and one at $349,900) and a 3 bedroom for $269,000, a 4 bedroom for $479,000. I calculated about $292,000 as the average asking price of current listings on Paudash.

Baptiste Lake: (Pronounced locally as BAP-TEEST) Offers good fishing and hours of boating on a very scenic 3-lake system reaching the southern tip of Algonquin Park. Baptiste Lake, rated 4 for acid sensitivity, is located in Herschel ward of Hastings Highlands Township. It is about 2226 hectares in size and part of a chain with Benoir and Elephant Lakes. It offers some 36 miles of boating. The maximum depth is about 32 meters. Fish species include Lake Trout, Muskellunge, Smallmouth Bass, Largemouth Bass and Walleye.

In 2006, 25 properties on Baptiste Lake were SOLD through the Bancroft District Real Estate Board. One was a 1.64 acre lot that went for $125,000 and one was an upscale B&B/Restaurant in log that went for $570,000. Tossing out the more “commercial” property at $570,000 (so as not to skew the results), I came to an average sale price of about $214,568 –representing about 90.5% of asking prices.

So far, in 2007, 8 properties have sold on Baptiste, through the Bancroft Board. A small lot that sold for $137,000 represents the lower end and a 4 bedroom Viceroy on an acre and a quarter, represents the high end at $355,000. The average sale price was about $214,000 (hmmm, same as last year) and represented 93.7% of the asking price.

Right now, there are 17 MLS ® listings on Baptiste, of which 5 are vacant land with lake frontage. The smallest, a .68 of an acre lot is listed for $198,500 and the highest is a 44 acre parcel (at the “ripples” leading into Elephant Lake) that is listed for $399,000. Discarding the 44 acres (which would skew things too much)- the average price for a vacant property listed right now on Baptiste is $94,375.

There are 12 cottage properties currently MLS ® listed on Baptiste. The lowest priced cottage is a 3 bedroom for $264,900 and the highest priced is a lovely year round 3+1 bedroom, on 23 acres for $890,000. The average asking price for a cottage or home listed on Baptiste Lake is about $600,500.

Things like access, privacy, amount and quality of shoreline, quality of construction and current condition of buildings (among other items) will affect the asking price of waterfront property, regardless of the lake- however, the reputation of a lake can also influence property value! Remember, market values are decided by well-informed Buyers, who purchase property from Sellers who have knowledge of the market and are not under any pressure to sell.