With four exceptions,
recreational property prices have softened in most major markets across the country.
«High levels of demand combined with limited inventory have pressured winter
recreational property prices upward — a trend expected to continue well into the future,» says Lisa da Rocha, vice-president, Royal LePage.
Canadian
recreational property prices continue to increase in most markets across the country, as demand remains strong and inventory remains scarce.
Not exact matches
The charts below show the
price range for standard
recreational properties across Canada in 2015.
The median
price was $ 168,700, compared with $ 150,000 in 2012, reflecting a greater number of more expensive
recreational property sales in 2013
The 2015 RE / MAX
Recreational Property Broker and Agent Survey measures year - over-year median prices, listings and sales for waterfront, non-waterfront, and water access housing types in key recreational prope
Recreational Property Broker and Agent Survey measures year - over-year median prices, listings and sales for waterfront, non-waterfront, and water access housing types in key recreational property
Property Broker and Agent Survey measures year - over-year median
prices, listings and sales for waterfront, non-waterfront, and water access housing types in key
recreational prope
recreational property property regions.
The low
price of oil has had an effect on
recreational property markets in regions where buyers are typically employed by the oil industry in both Western Canada and Newfoundland.
Despite the upward pressure on starting
prices, the RE / MAX Report found that one in every four
recreational property markets still offers winterized, waterfront product
priced below $ 250,000.
You would think such a
price drop would be seen as a steal by some international financial magnate looking for a
recreational property, but Poczynek faces many challenges in attracting a buyer for this ultra-luxurious house.
Too late Cam, we are in a
recreational / retirement
property market and the loss of buyers to the southern U.S. has already driven
prices down in our market
There's been a tremendous increase in buyers seeking waterfront
recreational properties, which is pushing up
prices.
The report says that while the average
price of a standard waterfront, land access
recreational property is $ 380,507, some of the more popular destinations — such as Grand Bend, Honey Harbour, Georgian Bay, Wasaga Beach, the Muskokas, West Kawarthas, Cranbrook, Kelowna, Vernon, Okanogan and Fernie — report sales in the range of $ 500,000 to more than $ 1 million.
Demand now outpaces supply of
recreational properties in the vast majority of western markets, threatening further
price appreciation in the months ahead.»
The 2005 Re / Max
Recreational Property Report, which covers almost 50 major centres from coast - to - coast, says that upward pressure on
pricing has now eased in 34 per cent of markets nationwide.
The higher Canadian dollar has done little to dissuade buyers as
prices for
recreational properties in the U.S. reach peak levels.