Mountains loom over condos being constructed in Canmore, Alta., on Monday, April 24, 2023. Alberta led the country for price growth on cabins and cottages in 2023, with a national real estate report suggesting the increase is partly fuelled by one community near Edmonton with especially tight supply.
Alberta waterfront property prices declined slightly in 2023, but they dropped more than eight per cent in Quebec, Ontario and B.C. But he said there also haven't been enough new listings to keep up with demand, including from an influx of people relocating to Alberta and jumping into the real estate market."A lot of people that are moving to Alberta, and Edmonton specifically, are coming from Ontario, where they are passionate about their their ability to get out of town in the summer time and go to a lake," he said.
"There's generally always more than demand than supply … have been steadily increasing since 2012."Recreational properties are often a second, seasonal home for people with income or borrowing power to spare, or a place to retire. Roughly 90 kilometres west of Calgary in Canmore, where average recreational home prices are well into seven figures, the Royal LePage report shows the median single-family cost increased 4.4 per cent in 2023.
"If they don't need to be in a major centre, our price points compared to parts of Ontario are still fairly attractive," she said.
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