Orillia Real Estate & Houses for Sale

Recent developments in Orillia’s housing market have been heavily influenced by its rising population. The municipality in Ontario is expected to reach a total population of around 49,000 by 2051, resulting in a high demand for affordable housing. The federal and provincial governments are working closely towards this vision. Some recently introduced schemes include the creation of the Orillia Affordable Housing Action Plan, Affordable Housing Incentives, and Housing Attainable Supply Action Plan (ASAP). 

In addition, new ideas like container complexes, the Supportive Rapid Re-Housing Program (SRRP), and modular housing constructions are also being tested. A concentrated effort is made to promote ‘need-based’ housing in Orillia’s real estate market. These developments provide cost-effective construction and offer promising housing solutions for homeless youth and senior citizens.

As of July 2024, the average home selling price in Orillia hovers around $678,000. Housing demands in the city are skyrocketing while the supplies struggle to match up. In the past 28 days, about 130 new units were introduced in Orillia. Of these, 41 have been sold out. Homes in Orillia’s housing market spend an average of 27 days in the market and offer a price-to-selling ratio of 97%. Here is a quick summary of the municipality’s prevailing housing market trends: 

Orillia Guide & Infrastructure

Orillia is a popular city in Lake Simcoe County, Ontario. Also known as the Sunshine City, it is scenically positioned between Lake Couchiching and Lake Simcoe. As a city, Orillia carries a cultural legacy of thousands of years. Its attractive lakeside location, growing amenities and a surge in remote work opportunities have made it a popular residential choice. 

The transportation network in Orillia includes Highway 11 and Highway 12, which facilitate easy access to the Greater Toronto Area and other regions. Further, Orillia Transit bus services are available on five routes and run across the city. Other popular areas like Barrie, Midland, and Gravenhurst are closely located near Orillia. Along with a modern infrastructure, highlights like the Orillia Opera House and Mariposa Folk Festival give it a rich social life.

Orillia Real Estate Price Trends

Presently, the average home selling price in Orillia is $678,000. This is a 6.7% monthly increase but a 1.4% quarterly and 10.8% yearly decrease. A little earlier in June 2024, multiple price trends were observed. In Orillia and the surrounding region, the median price for waterfront homes stood at $1,195,000 in June 2024, while the same for non-waterfront homes was $662,500. About 20 waterfront and 170 non-waterfront homes were sold in this region during this period.

As the Orillia real estate price trends continue to fluctuate, here is a summary of the prevailing market conditions: 

Real Estate Market Scope & Opportunity

The Orillia real estate market offers flourishing opportunities for investors, developers, and home buyers. Buyers can choose from diverse property options, including single-family homes, condominiums, townhouses, and waterfront properties. Orillia offers a rare mix of urban amenities and natural surroundings. The rise in affordable housing especially makes it an appealing residential choice.

Given the city’s population growth, a concentrated effort is being made to convert single dwellings into multi-unit dwellings. The Site Plan Approval (SPA) process has also been simplified to facilitate faster approvals and construction. These developments offer immense opportunities for buyers, investors, and real estate developers in Orillia.

Popular Neighbourhoods in Orillia

Orillia spans an area of approximately 28.61 square kilometres and comprises numerous neighbourhoods. Some of its top residential areas include: 

Couchiching Beach: Located near the famous Couchiching Beach Park, this neighbourhood is known for beautiful waterfront views and multiple recreational activities. Some of its popular landmarks include Couchiching Beach Park and Orillia Waterfront Centre.

North Ward: North Ward houses well-preserved older and modern residential units. It is known for its tree-lined streets, peaceful environment, and prominent landmarks like Victoria Park and Orillia Secondary School.

West Ridge: One of Orillia’s rapidly growing areas, the West Ridge is famous for its modern housing options and contemporary amenities. It is also home to the Lakehead University and the Rotary Place sports complex. 

Downtown Orillia: Downtown Orillia is one of the most lively parts of the city. It features popular heritage buildings, boutique shops, restaurants, and cafes. Some of Orillias’ popular buildings, like the Orillia Opera House and the Orillia Museum of Art & History (OMAH), are located in this neighbourhood.  

Marchmont: Located on the outskirts of Orillia, Marchmont offers quieter settings and spacious homes. Its closely knit community, countryside environment, and renowned Marchmont Public School make it a popular residential choice.

Buy Property in Orillia

Square Yards provides a hassle-free experience to those looking to buy property in Orillia. Our extensive listings help buyers search for desired properties across the municipality. Buyers can find complete property details on our website, from property prices to top amenities.

Property Options in Orillia

Want to buy a property in Orillia? Square Yards offers a diverse range of choices. Some of the popular property types available at Square Yards include: