While fewer Canadians can try to buy a holiday home In some regions compared to past years, a new report indicates that prices should increase in 2025, because demand still exceeds supply on most markets.
The report published Wednesday by Royal Lepage plays the median price of a single-family house in the so-called recreational regions of Canada to increase four percent of a year to $ 652,808.
The national increase reflects the price increases expected on each provincial market, led by an assessment of eight percent in Atlantic Canada at a median price of $ 498,852 and an increase of Quebec at $ 457,19.
Alberta remains the most expensive province to have a recreational home, Royal Lepage providing for a bump of 2% at the median price of a single -family property at nearly $ 1.3 million, followed by British Columbia to $ 951,762 – also an increase of two%.
Ontario arrives in third position at a planned median price of $ 647,107, which would be one percent above 2024.
In the cheapest region, which combines Manitoba and Saskatchewan, the report provides that the median price increases by $ 4.5%.
The president and chief executive officer of Royal Lepage, Phil Soper, said that the demand for recreational properties remains strong but balanced after three years of two -digit price growth during and after the pandemic.
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He said that many families still have a “deeply rooted desire” to have a holiday home and that it is unlikely to change, even in the midst of economic uncertainty and geopolitical tensions.
“The race of the pandemic era for recreational properties, which once recalls a rush to modern gold, fortunately attenuated – with the chaos of the auction wars and thin inventories,” said soper in a press release.
“Although the consumer market is more sensitive to economic changes, demand in the recreational segment remains firm, even during periods of hesitation on the market.”
In a survey of more than 150 representatives of Royal Lepage real estate who focuses on the recreational market, 46% said that demand was almost the same as last year. Just under a quarter has declared more requests, while the same amount said less request.
The report noted that the drop in interest rates has contributed to supporting the demand for vacation properties. Three -quarters of the agents interviewed say that buyers of recreational houses in their region generally obtain funding, such as a mortgage or a loan, when purchasing.
A third of the respondents said that the offer was lower than last year while 39% said a similar inventory. Despite these indications for the drop in supply, 55% declared an increase in average days that ownership spent on the market compared to last year.
“For the future, the prices of recreational properties should increase modestly, drawn by the current tenders,” said soper.
“New chalets and cabins are not built quickly enough to meet the demand of buyers, which will continue to support long -term price growth.”
In 2024, the weighted overall median price of a holiday home increased by 2.3% on the other to $ 627,700. The weighted median price of a property in the unifamilial riverain sector dropped by 3.6% against 2023 to $ 1,063,400, while the price of a condominium remained stable at $ 431,700.
& Copy 2025 the Canadian press