US EditionVacation home market slows after pandemic boom, but prices still rising: Royal LePage
- Royal LePage released a report on Wednesday, March 26, 2025, forecasting a four per cent year-over-year increase in the median price of a single-family home in Canada's recreational regions, reaching $652,808.
- The anticipated national increase is attributed to expected price boosts in each provincial market, although fewer Canadians may be seeking vacation homes in certain areas compared to previous years.
- Alberta is expected to remain the priciest province for recreational homes with a median price of nearly $1.3 million, while Manitoba and Saskatchewan are the least expensive, with a median price forecasted at $310,052.
- In 2024, the overall weighted median price of a vacation home increased 2.3 per cent year-over-year to $627,700, with waterfront properties experiencing a 3.6 per cent price decrease to $1,063,400 and condominiums remaining flat at $431,700.
- Royal LePage's president and CEO, Phil Soper, stated that demand for recreational properties remains strong but balanced, with modest price increases expected due to ongoing supply shortages, despite the pandemic-era scramble easing, and emphasized that "New cottages and cabins aren't being built fast enough to meet buyer demand, which will continue to support long-term price growth.
21 Articles
21 Articles
Vacation Home Market Slows After Pandemic Boom, but Prices Still Rising: Royal LePage
While fewer Canadians may be looking to buy a vacation home in some regions compared with years past, a new report says prices are expected to increase in 2025 as demand still outpaces supply across most markets. The report released Wednesday by Royal LePage forecasts the median price of a single-family home in Canada’s so-called recreational regions to rise four percent year-over-year to $652,808. The national increase reflects expected price b…
Vacation home market slows after pandemic boom, but prices still rising: Royal LePage
While fewer Canadians may be looking to buy a vacation home in some regions compared with years past, a new report says prices are expected to increase in 2025 as demand still outpaces supply across most markets.
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