Here's what Canada's recreational housing market has to offer
Here's what Canada's recreational housing market has to offer
Summer is in full swing and for many Canadians, that means a trip to the cottage. Since the start of the COVID-19 pandemic, demand for recreational homes has increased country-wide, according to an analysis of national cabin and cottage trends gathered by Re/Max Canada.
A recent survey conducted on behalf of Re/Max Canada revealed that three quarters of those living in recreational markets said they were happy with their quality of life, while nearly 40 per cent of Canadians living in these markets said they were interested in purchasing property because of its affordability.
But a rise in both interest and activity in Canada’s recreational markets, along with a shortage of properties on the market, means average prices could increase by as much as 20 per cent throughout the rest of 2022. This is according to the majority of Re/Max Canada brokers and agents.
Markets such as the one in Tofino, B.C. saw average recreational home prices grow from about $1.14 million in the first quarter of 2021 to $1.72 million in the first quarter of 2022. By the end of the year, the average price for a recreational home in the region is projected to be about $1.8 million. Both Canmore, Alta. and Muskoka, Ont. had average sale prices of about $878,000 and $969,000 within their respective recreational markets in the first quarter of 2022. By the end of the year, these prices are expected to rise to about $921,000 and $1.14 million, respectively.
Other markets, such as the one in St. John’s, N.L. are expected to see more modest growth throughout the year, with the average recreational home price anticipated to rise from about $273,000 in Q1 of this year to $300,000 by the end of 2022.
Despite the forecasted rise in prices, a number of recreational properties ranging in value and size currently sit on markets across Canada. CTVNews.ca has compiled a list of recreational homes for sale in various provinces.
BRITISH COLUMBIA
(Clifford Bremner, Tansi Studio / Michelle Buller, Royal LePage Downtown Realty)
Price: $359,000
Year Built: 2003
Property Size: 51.47 sq. m
Lot Size: under 0.4 hectares
Found in the district of Lake Country, B.C., this two-bedroom, one-bathroom wood cabin is located on Dee Lake, offering the ideal waterfront getaway. The fully furnished recreational home features large windows throughout, as well as an open-concept kitchen connected to the living and dining rooms. Easy access to the lake means the cabin can be enjoyed year-round, whether swimming in the summer or ice fishing in the winter.
ALBERTA
(Jami King, CARE Media / Hannah Hauser, eXp Realty)
Price: $349,900
Year Built: 1981
Property Size: 124.49 sq. m
Lot Size: 0.38 hectares
This four-bedroom, two-bathroom recreational home is situated in central Alberta at Pelican Point, off the coast of Buffalo Lake. On the main level is a two-car garage as well as an office space that can be used as an extra guest room. On the upper floor are the bedrooms as well as a kitchen that flows into the living and dining rooms.
SASKATCHEWAN
A recreational home located in Saskatchewan. (James Cudmore / Judy Forster, Forster Realty)
Price: $898,500
Year Built: 2007
Property Size: 142.14 sq. m
Lot Size: 0.3 hectares
Welcoming visitors to this property in the village of Buena Vista, Sask. is a well-landscaped lot made of lush green lawns. Inside, this custom-built waterfront home includes five bedrooms and four bathrooms. A wall of windows on the main floor, along with decks on the upper and lower levels of the home, offer stunning views of the nearby lake. The kitchen is complete with walnut cabinetry and new quartz countertops.
ONTARIO
(Soare Productions / Spencer Jacques, Chisvin Group Real Estate at PSR Brokerage)
Price: $2,849,000
Year Built: 2019
Property Size: 227.98 sq. m
Lot Size: under 1.42 hectares
With five bedrooms and three bathrooms, this recreational home offers access to 87 metres of shoreline for incredible views facing the southwest. The secluded property, located in Muskoka Lakes, Ont., provides complete privacy. Showcasing model craftsmanship and modern décor, it features a main foyer with vaulted ceilings and an open-concept floorplan on the main level.
NEW BRUNSWICK
(Hannah MacCormick / Mike Blanchet, Re/Max Professionals)
Price: $289,000
Year Built: 1992
Property Size: 111.48 sq. m
Lot Size: 0.49 hectares
The light colours used in this move-in ready cottage found in Kars, N.B. are what give it a cozy yet bright atmosphere. Three bedrooms and two bathrooms are housed across two floors. The property also includes a fully accessorized kitchen and a winding wooden staircase. Views of the nearby cove are visible from the deck located on the main level, as well as a porch on the upper floor.
NOVA SCOTIA
(Concept Measures / Jennifer Gillis, Domus Realty)
Price: $989,000
Year Built: 1986
Property Size: 68.84 sq. m
Lot Size: 13.35 hectares
On the shores of Black Rattle Lake sits this recreational home built with local pine and hemlock. It includes an open-concept living and dining area, as well as a large, cathedral-style front window. The 13.35-hectare lot also comes with a secluded swimming cove and plenty of woodland to explore. Located in Labelle, N.S., the three-bedroom, one-bathroom home has a basement with access to the outdoors as well.
PRINCE EDWARD ISLAND
(Erin Gibbons, Century 21 Colonial Realty)
Price: $299,900
Year Built: 1965
Property Size: 78 sq. m
Lot Size: under 0.2 hectares
Completely renovated, this cottage is just a short walk away from Canoe Cove Beach and Rice Point Wharf in Prince Edward Island. The open floorplan of this one-storey home allows for easy movement between the living, dining and office spaces. Completing the waterfront recreational home is a four-piece bathroom and bedroom with a walk-in closet. The property also comes with a propane fireplace and vinyl plank flooring throughout.
NEWFOUNDLAND AND LABRADOR
(Mark Fagan, Century 21 Seller’s Choice)
Price: $299,900
Year Built: 1987
Property Size: 157.94 sq. m
Lot Size: 0.40 hectares
This one-storey cottage situated in Salmonier Line, N.L. comes with two bedrooms and one bathroom. Large windows in the kitchen and living room area allow plenty of natural light to seep in while offering beautiful views of Hawcos Pond, which the home itself has direct access to. The main floor also features a sunroom, while the basement can be used for storage.
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(Clifford Bremner, Tansi Studio / Michelle Buller, Royal LePage Downtown Realty)
(Jami King, CARE Media / Hannah Hauser, eXp Realty)
A recreational home located in Saskatchewan. (James Cudmore / Judy Forster, Forster Realty)
(Soare Productions / Spencer Jacques, Chisvin Group Real Estate at PSR Brokerage)
(Hannah MacCormick / Mike Blanchet, Re/Max Professionals)
(Concept Measures / Jennifer Gillis, Domus Realty)
(Erin Gibbons, Century 21 Colonial Realty)
(Mark Fagan, Century 21 Seller’s Choice)
