SPRING RECREATIONAL MARKET ACTIVITY
- Robust activity, especially in the $200,000 to $550,000 range.
- Strong interest in water access properties likely driven by selection, price, location, weather and near-normal water levels.
- The two most common types of Buyers are young families with children tapping into their home equity to buy cottages and near or recent retirees who are looking to make a cottage country property their primary residence.
- Many Buyers are looking for recreational properties that have the amenities for working from the deck or dock. Access to the net enables cottagers to dodge weekend traffic with a day or two of telecommuting. Good cell and internet access are a SELLING FEATURE as well.
- A good percentage of Buyers want their place to be useable year round. Partly because Buyers want a property they can enjoy year round but also because financing options are more flexible for those purchasing a year round recreational property than for those purchasing a three-season cottage property.
- For the past several years, a higher Canadian dollar and a tougher U.S. economy meant that American Buyers weren't expressing interest in purchasing recreational property in Canada. With the Canadian dollar dipping, it appears American Buyers are returning to our area again. Canadian Buyers may also stay closer to home where their dollar will going further.
- Lot 2 McCallum Point Road, Deception Bay, Lake of the Woods - Was $1,450,000 - Now $1,375,000 - CLICK HERE
- 241 Woodland Road, Whitefish Bay, Lake of the Woods - Was $525,000 - Now $495,000 (Vendor relocation) - CLICK HERE