Waterfront Properties in Sask. Going for $500,000

 
THE STARPHOENIX JUNE 7, 2014 

If you are looking for a cottage up north on the water, expect to pay up to $500,000.

According to the latest Royal LePage Recreational Property survey, most regions in Canada are anticipating strong sales this year despite the delay caused by the extended winter. Waterfront properties are seeing price growth in Saskatchewan as well as Ontario and Manitoba.

The report said deals can be had on in-land properties in Prince Edward Island, New Brunswick, Nova Scotia and some interior regions of British Columbia. Here's a look at some Saskatchewan regions:

Christopher and Candle lakes The average price for recreational properties in the Christopher and Candle Lake communities remained steady in the past year. They vary from $310,000 for an in-land cottage, to between $400,000 and $450,000 for a waterfront property with land access and between $500,000 and $550,000 for a waterfront property with water access.

An emerging trend in the area is younger families investing in vacant lots for future development instead of purchasing a property with an existing structure.

Location dictates price, said Royal LePage Saskatoon Real Estate realtor Kelly Kowalchuk in a news release.

"Certain properties might offer great access to water sports or hiking trails, while other properties might be better for restaurants or access to the golf course," said Kowalchuk. "Potential buyers should ensure that the recreational property they are interested in matches their desired lifestyle."

Melfort area Waterfront properties with land access in Melfort are generally priced between $240,000 and $260,000.

Non-waterfront, land access cottages are between $200,000 and $250,000 and waterfront properties with water access sell for between $260,000 and $310,000.

These two property types have had fairly significant increases compared to past years, but Joline Ozeroff, sales associate, Royal LePage Hodgins Realty, predicts a softening of prices over the next few months as the market stabilizes.

"The market is a bit saturated right now with a number of new developments in the area, meaning there is more product on the market than there are buyers."

Regina area Non-waterfront, land access properties currently sell for an average of $200,000, and waterfront properties with land access average $324,000, the report said, adding developers are working on a number of new lakeside properties.

The report said the typical recreational property buyer in Regina is looking for a second property. They are generally professionals in their 30s and 40s, and are often married with children. Mike Duggleby, broker/owner of Royal LePage Regina Realty, predicts a steady market this year, without any big fluctuations in either direction, due to steady levels of inventory. Right now, there is a wide range of prices for recreational properties.

Nationally, after a slow start to the year, sales activity in Canada's recreational property market is beginning to pick up.

"Sharp rises in the price of recreational properties in U.S. regions favoured by Canadians, such as Arizona, Florida and California, coupled with a lower Canadian dollar relative to the American currency, is beginning to impact our domestic recreational market," said Phil Soper, president and chief executive of Royal LePage Real Estate Services. "People who were previously wooed by bargain shopping for real estate south of the border are finding the real deals are now at home."


Jenni Bast

Jenni Bast

REALTORĀ®
Brian Bast Realty Inc.
Under Contract with CENTURY 21 Dome Realty Inc.
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