Dianne Isabel (i) Wilson

Dianne Isabel (i) Wilson

Broker

RE/MAX Advantage Realty Ltd., Brokerage*

Mobile:
519-777-2424
Office:
519-649-6000
Toll Free:
1-855-649-6001
Email Me

Recreational Property Report 2024

Cottage owners choose to hold on to properties, despite interest rates and affordability concerns

Looking ahead, RE/MAX brokers and agents in Canada are anticipating an increase in recreational prices by 6.8 per cent. Meanwhile, the number of sales is expected to rise in the majority of regions analyzed (61.9 per cent), with increases ranging from three per cent upwards of 50 per cent this year.  

  A flood of listings hasn’t hit Canada’s recreational property market this spring, and is unlikely to transpire this year, according to findings from RE/MAX Canada’s 2024 Cottage Trends Report. Despite the affordability challenges and higher interest rates that characterized the 2023 real estate market, Canada’s cottage owners are choosing to hold on to their properties in 2024 rather than selling off – a trend that’s likely influenced by the desirable quality of life alongside the prospect of future returns on recreational property ownership.

 

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