Cottage purchased for $3.6M sells for huge loss in Ontario

A cottage purchased for $3.6 million just sold for a huge loss in Ontario.

In a tough market, recreational properties are not a priority for many buyers. A recent report found steep price declines in recreational markets across the province on a year-by-year basis, with areas like Niagara-on-the-Lake, Peterborough County, Northwestern Ontario, Orillia, and Grand Bend being hit the hardest.

Earlier this month, a cottage purchased for $1.9 million in May 2022 sold at a 45 per cent loss in Ontario.

This latest example is a much larger recreational property.

A Haliburton cottage at 1075 Elmhurst Lane, Dysart Et Al sold for $3,625,000 in August 2022, according to online records.

It was listed in February this year for $3,795,000. The price dropped to $ 3,350,000 in May, and the place sold earlier this month for $2,950,000—at a $675,000 loss.

“With cottage season winding down, this is the worst time to try to exit the market, compounding already horrific market conditions,” real estate commentator Shazi Goalie said on X. “This one was bought at the end of the cottage season in 2022, months after the hottest market on record. The owners just sold it for a tectonic $675,000 loss.”

The three-bedroom custom-crafted timber frame cottage is on Kennisis Lake.

Features include lake views, cathedral ceilings, a stone fireplace, antique Hemlock floors and an open-concept kitchen outfitted with high-end appliances.

There is also a fire pit deck at the water’s edge, a hot tub and a three-bay garage.

📢 Cottage Country Carnage Continues

📍Dysart et al, ON 🇨🇦

Nobody is safe from the the absolute crisis that cottage country is in now. ⚠️

With cottage season winding down, this is the worst time to try to exit the market compounding already horrific market conditions. ⏳💔… pic.twitter.com/5lsHbEbesL

— Shazi (@ShaziGoalie) August 17, 2025