Princess Margaret Lottery Mansion Sells Below Advertised Value: What Barrie Buyers Can Learn
The Princess Margaret Home Lottery, run by the Princess Margaret Cancer Foundation, is one of Canada’s largest fundraisers for cancer research. Each year, it offers high-value showhomes, with proceeds supporting the Princess Margaret Cancer Centre.
For spring 2025, the grand prize was a 4,500-square-foot mansion in Oakville’s Morrison neighbourhood. The home featured custom finishes, designer appliances, and professional landscaping, with an advertised value of $8.5 million, plus a $500,000 cash prize.
The winner listed the property in June 2025 for just under $5 million, and it ultimately sold for $4.3 million on November 17, 2025, according to MLS records.
Why Luxury Lottery Homes Often Sell for Less
Real estate experts, including Cory Martin, Oakville broker, explain that lottery advertised values often exceed real resale market values. Key reasons include:
1. Inflated Promotional Value
The $8.5 million figure includes:
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Replacement costs for furniture, flooring, appliances, permits, labour, landscaping
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Carrying costs during construction
While appealing for lottery marketing, these features rarely increase resale value proportionally, especially for buyers outside the immediate neighbourhood.
2. Market Comparables
Luxury resale prices are guided by recent sales, not build costs. In Morrison, similar 4,500-square-foot homes sold for $4–$4.5M in 2025, reflecting:
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Softening luxury market
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Higher interest rates
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Buyer preference for less customised turnkey homes
Lessons for Barrie & Simcoe Buyers and Sellers
While Oakville represents Canada’s luxury market, Barrie and Simcoe County have similar patterns for high-end properties:
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Custom finishes don’t always equal higher resale prices. Over-investing in bespoke features may not yield proportional returns.
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Luxury resale in Simcoe is sensitive to market trends. In 2025, large homes in Barrie often sell for $1.5–$2.5M, depending on location, finishes, and market conditions.
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Lifestyle and carrying costs matter. Taxes, maintenance, and utilities on a mansion can be significant. Buyers and sellers need to factor this into decisions.
The Oakville winner received $500,000 cash plus $4.3M from the sale, effectively pocketing $4.8M total, far above the cost of a $100 lottery ticket—showing that practical decisions often outweigh advertised “value.”
Bottom Line for Simcoe Homeowners
The Princess Margaret Lottery highlights a key lesson: market value drives resale, not promotional price tags. Barrie and Simcoe buyers can learn from this, especially when considering custom builds or luxury upgrades. Understanding market comparables, location, and lifestyle costs ensures realistic pricing and smarter buying decisions.
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