Silver Water, Manitoulin Island, Ontario
As of September 27, 2026, the median asking price in Silver Water, Manitoulin Island, Mindemoya, Manitoulin Island is $550,000, across 21 active MLS® listings.
Those listings have been on the market an average of 89 days.
1 new listing came to market in Silver Water, Manitoulin Island in the last 30 days.
Detached homes in Silver Water, Manitoulin Island are listed at an average of $864,575 across 16 active listings.
Silver Water is a small, rural lakeside settlement on the south shore of Manitoulin Island, characterized by low-density residential lots, seasonal cottages, and waterfront properties tied closely to boating, fishing, and summer tourism. The local population skews older and owner-occupied, with a noticeable seasonal swell from cottage owners and short-term visitors; housing supply is limited and transactions can be infrequent, which can cause pricing to move in jumps rather than steady monthly trends.
Amenities are modest and spread out, with most day-to-day shopping, healthcare, and services typically accessed by driving to nearby island communities such as Gore Bay, Mindemoya, or Little Current. School options are similarly dispersed across the island, making car dependency the norm; there is no local urban-style transit, and connectivity relies on highways and ferries serving the broader region. Real estate demand is driven more by lifestyle and recreation than employment growth, with stronger interest in waterfront and well-kept year-round homes; investment performance tends to hinge on seasonal/short-term rental potential and the ability to manage vacancy in the off-season, while long-run appreciation is steadier and generally below major Ontario markets.
Silver Water, on Manitoulin Island, offers a mix of rural properties and cottage-style homes spread across the wider area, with housing options ranging from more secluded waterfront or wooded lots to homes on larger acreages that can vary significantly by access, views, and year-round usability. Right now there are 21 active for-sale listings with a median asking price of $550,000, and with an average 89 days on market, buyers may find more room to negotiate—especially on listings that have been available longer. With just 1 new listing in the past 30 days, fresh inventory is limited, so well-priced properties in the most sought-after settings can still attract attention despite the slower overall pace.
AI-written commentary on the active MLS® listing snapshot as of September 27, 2026. Not financial advice.
Silver Water, Manitoulin Island covers about 2,342 km², so a single Walk Score®, Transit Score® or Bike Score® measured at one point would not describe it. How easily you can get around depends on which part of Silver Water, Manitoulin Island you are in — check the score for a specific address.
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Stuart Hall, REALTOR® · Licence #LIC-00651009 · Century 21 Bravo
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