- Recreational real estate sales volumes in 2013 surpassed 2012 levels by about 10%.
- Sale prices in 2013 were similar to 2012, the increase in volume pushed the average sale price up in 2013 to $375,100.
- The range for water access vacant land sales was $58,000 to $275,000.
- The range for road access waterfront vacant land sales was $78,000 to $450,000.
- The range for water access cottage sales was $115,000 to $800,000.
- The range for road access waterfront cottage sales was $160,000 to $1,805,000.
- In 2013 we experienced a strong trend for water access properties. This segment almost always lags behind the demand for road access properties.
- Baby boomers continue to be the most active demographic in the recreational market.
- There has been consistent upward momentum in the recreational market since 2011 with the majority of our Buyers coming from Manitoba and Western Canada.
- Many area Resort owners have reached a point where they wish to retire. Therefore, I expect to see many resorts converting to condominium ownership. I believe this segment will appeal to more mature boomers wishing to own a cottage without the upkeep.
I would like to thank you for your business and wish you all the best for the Holidays.
Greg Kirby, Broker - Recreational Properties