Recreational property prices in Manitoba rising: report

A new report from Royal LePage says recreational property prices are rising significantly. Joseph Bernacki explains.

After 30 years living away from the city, Irene McKague and her husband Don are finding it hard to let go of their slice of paradise in Dunnotar.

“We’ve been here since 1996, and it’s time to move on and do different things now,” McKague said Tuesday.

The couple listed their 1,500-square-foot Interlake home three weeks ago, and interest has already been strong.

“Well, it’s relaxing; it’s ... mostly (a) cottage area, but it’s changing into long-term buyers year-round,” she said.

The prices buyers are willing to pay may be higher than the McKagues ever expected.

“Prices have gone up substantially over the years just because of the recreation area,” McKague said.

A new Royal LePage report backs up what the couple has been hearing.

The company’s 2026 spring recreational property price forecast shows median prices have risen sharply across Manitoba and Saskatchewan. Single-family homes are up 4.6 percent year over year, while waterfront properties saw an even bigger jump — a 5.7 percent increase compared to last year.

Interlake realtors say demand has been steady since the pandemic.

“Families are just wanting someplace they can go relax and start making their own memories,” said Karen Machut, an Interlake realtor with Royal LePage. “There’s no better place to do it than at the lake.”

Machut, who sells properties on both sides of Lake Winnipeg, says a recent listing in Fraserwood moved in a matter of days. She adds that rising prices haven’t dampened buyer enthusiasm.

“Everybody wants to be out here, so it’s been a strong market,” Machut said. “(Sellers) they’re a little surprised right now at what they can get for a cottage.”

For David Konefall and his wife, Korey Williams, they said buying their Dunnotar cottage just over a year ago—and converting it into a full-season home—turned out to be well-timed.

“I do a nine-kilometre run every day, and I see the (real estate) signs go up and I see the signs go down,” Williams said. “Nothing’s for sale very long.”

“We’re very happy we bought a few years ago and not trying to get into this market now,” Konefall said.