In 2022, the aggregate price of a single-family home in Canada’s recreational property regions increased 11.7 per cent year-over-year to $619,900. That follows year-over-year price gains of 26.6 per cent in 2021. The aggregate price of a single-family waterfront property increased 9.5 per cent year-over-year to $736,900 in 2022, while the aggregate price of a condominium rose 16.6 per cent to $432,000 during the same period.
“Traditional cottage buyers – end users that plan on enjoying their property – are still engaged and seem eager to jump back into a market in which they are not competing with the investment-focused buyer; a prominent player during the pandemic boom,” says John O’Rourke, broker, Royal LePage Lakes of Muskoka.
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