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2012 Royal LePage
Recreational Property
Report
Table of contents
	 2.	 Prince Edward Island

	3.	 Newfoundland

	 3.	 New Brunswick

	4.	 Quebec

	6.	 Ontario

	14.	   Manitoba

	15.	   Saskatchewan

	16.	   Alberta

18.	 British Columbia




                             2012 | Royal LePage Recreational Property Report |   | 1
Regional Summaries
Prince Edward Island                     - $140,000, whereas a standard
                                         waterfront, land access property
From its stunning landscapes to          sells for approximately $120,000 -
its sandy east coast beaches, PEI
is an ideal vacation destination for
                                         $200,000.                                These buyers
Canadians of all ages. Not only          Peters notes that although the           are looking
is PEI home to some of Canada’s          majority of buyers purchase
oldest historical monuments, but the     recreational properties for lifestyle    for properties
province offers many cultural and        opportunities, many are increasingly
adventurous activities all year round.   looking for properties from which        they can not
 “PEI’s recreational market is off to
                                         they can draw a secondary income.
                                         “Both younger families and semi-         only enjoy for
a good start this year,” said Ken
Peters, broker/owner, Royal LePage
                                         retirees make up the large majority of
                                         our buyers. These buyers are looking
                                                                                  themselves,
Peters & Lank Realty. “Unit sales        for properties that they can not only    but use as a
have increased slightly from this time   enjoy for themselves, but use as a
last year and we expect this figure to   secondary income stream.”                secondary
grow in the coming months as more
people enter the marketplace.”           According to Peters, there is a          income stream.
                                         misconception that recreational
Average prices for a standard in-land    properties can only be leased in PEI
property in PEI range from $80,000       for out of province buyers. “Although




2 |            | Royal LePage Recreational Property Report | 2012
whale watching, iceberg exploring,
                                                                                    boating, skiing, music festivals and
                                                                                    cultural events.

                                                                                    “The majority of buyers are locals in
                                                                                    their late 30s or 40s, who are looking
                                                                                    for a vacation home to enjoy with their
                                                                                    families,” states Larkin.

                                                                                    When asked about a common
                                                                                    misconception among buyers
                                                                                    searching for a recreational home,
                                                                                    Larkin states that many people are not
                                                                                    aware of the recreational market and
                                                                                    what properties typically sell for. “Many
                                                                                    buyers don’t match their wants with
                                                                                    their budgets. Many expect that they
                                                                                    can get a great ocean view property
                                                                                    for a bargain. My best advice for those
                                                                                    who are interested in purchasing
                                                                                    in the area is to work with a trusted
    Approximately 22 per cent of Canadians                                          REALTOR® who can provide you with
                                                                                    accurate market information.”
    living in Atlantic Canada use their
                                                                                    New Brunswick
    recreational property as a retirement
    property and live there part-time                                               The New Brunswick area is as
                                                                                    renowned for its spirited Acadian
                                                                                    culture as it is for its beautiful marine
                                                                                    wonders, mountainous landscapes
there are a few regulations that out     The average price for a standard           and sandy beaches. Situated on
of province buyers might have to         waterfront property, with water access,    Canada’s east coast along the
adhere to, in the vast majority of       costs $106,500, while a standard           Atlantic Ocean, the province is easily
sales these regulations do not apply.”   property, with waterfront and land         accessible by the Trans-Canada
                                         access, costs $132,000. The average        Highway, making it an easy drive
For those interested in purchasing       price for a standard non-waterfront        from Ontario and Québec.
in the Prince Edward Island area,        property in the province is $93,500.
Peters recommends that buyers do                                                    “The recreational property market
their homework. “It’s important to       Glenn Larkin, agent with Royal LePage      in New Brunswick is beginning to
find the right real estate agent that    Professionals 2000, notes that prices      ramp up as we enter cottage country
knows the recreational market and        for recreational properties have           season,” said Carla Bouchard,
can help you find a property that        increased by 10 per cent from 2011,        broker/owner, Royal LePage Metro.
best suits your needs.”                  while inventory levels have decreased      “Inventory levels across most
                                         slightly from last year. “We had a very    property types are up this season
Newfoundland                             mild winter, which prompted our selling    and will likely increase throughout
                                         season to begin sooner than usual,”        2012.”
Newfoundland is an ideal destination     states Larkin. “Overall, market activity
for anyone wanting to get back in        is fairly active and we are seeing that    Waterfront properties continue to be
touch with nature. Surrounded by         buyers are still very much interested in   in high demand – this is especially
29,000 kilometers of coastline, the      purchasing a recreational property in      true among buyers, between
province is filled with lush forests,    Newfoundland.”                             the ages of 40 and 50, who are
sweeping barrens and ancient rock                                                   looking for a four-season property
formations. The seasonal temperatures    According to Larkin, many buyers are       they can enjoy with their children.
in the region also make it a great       drawn to the area because there are        “Many families who buy recreational
vacation destination all year round.     many recreational activities, including    properties in New Brunswick do so




                                                     2012 | Royal LePage Recreational Property Report |                    | 3
because they view their purchases       Quebec                                    Robert Charbonneau, a real estate
as a sound real estate investment,                                                agent with Royal LePage Action. “We
and want to invest in a property they   Eastern Townships                         see a lot of professionals and young
can enjoy throughout the year.”                                                   families looking for a quiet place or
                                        No need to drive for hours to get away    a vacation spot that will bring them
 Bouchard notes that the average        from the urban lifestyle. Less than an    piece of mind. These buyers are also
price of standard waterfront property   hour drive from downtown Montréal,        interested in finding a property where
with land access costs $110,000,        Eastern Townships bring a whole           they can take advantage of the area’s
while a standard water access           new lifestyle dimension to recreational   many activities, which are offered all
property costs $170,000. In-land        property living. This popular vacation    year-round.”
properties (non-waterfront) are also    spot offers a variety of outdoor,
available and have an average price     cultural and gourmet activities to        Waterfront properties and those
of $65,000.                             satisfy any buyer.                        with access to nearby ski slopes
                                                                                  are in high demand in the Eastern
For those looking for a property         “Potential buyers in our area are        Townships. “Upscale recreational
in the area, Bouchard advises           interested in finding a recreational      properties represent a very interesting
that buyers research the area and       property that meets their lifestyle       market. Buyers would be surprised by
become informed about all the costs     needs. Ideally, they are looking for a    the good deals they could find there,”
and maintenance required with           second home where they can relax          states Charbonneau.
owning a recreational property.         with their family and loved ones,” says



      Almost all (98.6%) of current owners and intended
      buyers surveyed in Atlantic Canada agree that a cottage/
      recreational property is a great way to bring family together




4 |           | Royal LePage Recreational Property Report | 2012
Year-over-year prices have
increased slightly from last year.
On average, waterfront properties
                                               77 per cent of owners and intended
sell for approximatley $300,000 to             buyers living in Quebec feel that
$1,000,000, while properties with
water access range from $350,000               purchasing a recreational property gives
and $1,000,000. Land access (not
waterfront) properties sell for between        a larger return on investment than the
$170,000 and $300,000 on average.
                                               stock market
Memphrémagog

Located in the Eastern Townships           this region features properties to        the next five years will see the
region, Memphrémagog is a favourite        suit most desires. “But there’s           Ironman Mont-Tremblant, a triathlon
tourist destination among Canadians.       one feature that’s clearly the most       race, take place in the heart of the
The view of Lake Memphrémagog              popular among buyers in the               region. With so much to do and see,
covers more than 40 kilometres, and        region: tranquility,” states Longpré.     Mont-Tremblant remains very popular
the mountains forming Mont-Orford          “Our buyers are looking for a quiet       with recreational property buyers.
National Park and Mont-Orford are          property in a resort area. They want
a magical destination for visitors.        to be able to take advantage of the       “Buyers always hope to get a great
Prospective buyers will be also            region’s attractions and spend quality    deal when they come to see us and
pleased with local attractions; in fact,   time with their family and friends.”      often, their planned budgets do not
visitors can enjoy Memphrémagog                                                      correlate with market prices. That
getaways on the Grand Cru luxury           The average price of recreational         being said, agents are able to find
boat that will take them to the            properties has remained stable when       recreational properties to suit most
majestic Lake Memphrémagog, the            compared to the same period last          budgets and needs,” says Paul
new Memphrémagog Library, which            year. The average price of a standard     Dalbec, a certified real estate agent
is built in a former church, as well       waterfront property with land access      with Royal LePage Région Mont-
as a rest area and a tourist office        is around $230,000 and that of a          Tremblant. “These days, buyers
currently being built along highway        standard waterfront property is           want to buy recreational properties
100 at exit 115.                           approximately $336,000.                   to relax in while also enjoying the
                                                                                     numerous attractions offered by
“The main reason people come to            Mont-Tremblant                            Mont-Tremblant. We are very proud
settle in Memphrémagog is to enjoy                                                   to have the IronMan Mont-Tremblant
regional activities. Young families are    Mont-Tremblant is very busy in            for the next five years. There is no
looking for recreational properties to     both summer and winter and                doubt that this sporting event will
have as a secondary residence to           the mountain’s reputation as a            attract thousands of visitors and
enjoy and where they can get away          recreational getaway has stood for        will only reinforce the mountain’s
from urban life,” explains Christian       generations. This resort is the perfect   reputation as a great place for sports
Longpré, a certified real estate agent     place to spend holidays. Skiing,          and outdoor activities.”
with Royal LePage Au Sommet.               biking, hiking, golf and relaxation
                                           enthusiasts, just to name a few, will     Waterfront properties and condos
Recreational property buyers               enjoy the vast selection of activities    located at the heart of Station Mont-
have many different needs and              and events in the region. In addition,    Tremblant are always in demand.
                                                                                     “People want a hideaway that will
                                                                                     be close to ski slopes or the lake,”
                                                                                     explains Dalbec, who added that
    69 per cent of Quebec residents value                                            ”we are noticing that buyers want
                                                                                     to own recreational property so that
    peace and quiet and rate this as an                                              their family and friends can enjoy
                                                                                     it. As a result, renting is becoming
    important feature for a recreational                                             increasingly less common in the
                                                                                     region.”
    property



                                                      2012 | Royal LePage Recreational Property Report |                | 5
According to Pelletier, typical buyers
                                                                                      in Lanaudière are “young families
      People want a hideaway that is close to                                         with children that want to be able to
                                                                                      enjoy nature and the many cultural
      ski slopes or the lake.                                                         activities offered in the region.”
                                                                                      Pelletier noted that while some
                                                                                      buyers rent out their properties to
                                                                                      increase affordability, this practice
The average price of a standard            Matha and St-Gabriel-de-Brandon            is becoming increasingly less
waterfront property is approximately       are beautiful areas of Lanaudière,         common,.
$750,000, that of a standard               which harmoniously combines nature
waterfront property with land access       and culture. This region has a lot to      The average price of a standard
is around $475,000 and that of a           offer to recreational property buyers.     waterfront, water-access property is
property with land access (in-land) is                                                between $125,000 and $400,000.
$275,000.                                  “People tend to think that it is           The price of a standard waterfront
                                           possible to find a large waterfront        property with land access is between
Lanaudière                                 recreational property, isolated            $80,000 and $225,000. The price of
                                           from neighbours, for $100,000 in           a property with land access (in-land)
Lanaudière is a colourful region           the Lanaudière region. That’s not          is between $80,000 and $200,000.
offering a variety of activities to suit   exactly the case,” explains Guylaine
all tastes. With its wide open and wild    Pelletier, certified real estate agent     Ontario
spaces, as well as its 10,000 lakes        with Royal LePage Harmonie. “Still,
and rivers, the region is, without         the area’s many amenities and wide         Bruce Peninsula
a doubt, an outdoor paradise.              price ranges mean that buyers are
Located on the outskirts of Montréal,      able to find what they’re looking for in   With over 500 miles of majestic
Rawdon, Saint-Donat, St-Jean-de-           Lanaudière.”                               shoreline, Bruce Peninsula offers




6 |            | Royal LePage Recreational Property Report | 2012
recreational properties are harder to
    Approximately 82 per cent of current                                            come by.”

    recreational owners in Ontario do not                                           For buyers interested in finding
                                                                                    out about what the areas of East
    rent out their recreational property to                                         Kawarthas has to offer, Switzer
                                                                                    recommends potential buyers work
    help offset their mortgage or other                                             with a local REALTOR® who has
    property costs                                                                  extensive rural and cottage-country
                                                                                    knowledge.

                                                                                    Haliburton Highlands
vacationers an all-season destination.    East Kawarthas
The area’s rich culture and natural                                                 Located in south central Ontario’s
beauty makes it an ideal recreational     Surrounded by white waters and            beautiful cottage country area,
area for young buyers with small          rocky islands, the area of East           Haliburton offers an amazing range
children and adults between the           Kawarthas is the perfect recreational     of relaxing and adventurous activities
ages of 40 and 60 who are thinking        spot for a variety of buyers, including   for people of all ages. From its
about retirement.                         retirees, young families and mature       famous Algonquin Provincial Park,
                                          couples. The region is home to the        pristine lakes and dog sleigh trails,
“The Bruce Peninsula area is a great      majestic Stoney Lake and Clear Lake       Haliburton is a great destination all
place for buyers who want to escape       areas and offers visitors an endless      year round.
the city and get back in touch with       amount of leisurely fun all year long.
nature,” said Paul Annett, sales                                                    The region’s recreational property
representative, Royal LePage RCR          Bruce Switzer, manager of Royal           market got off to a slower start
Realty. “There are many adventurous       LePage Frank Real Estate, explains        this year but Anthony vanLieshout,
and leisurely activities available for    that market activity is very strong for   broker/owner of Royal LePage Lakes
the entire family, including hiking,      this time of year. “We had a very mild    of Haliburton, explains that interest
scuba diving, snowmobiling, skiing,       winter which prompted our spring          among buyers is still very strong.
horse shows, village fairs and much       selling season to begin earlier than
more.”                                    usual. Because of this, year-over-year    “Sales are down slightly compared to
                                          market activity is up slightly and we     this time last year, but we are seeing
Annett explains that activity levels      have a good selection of inventory on     a variety of buyers enter the market
for recreational properties are similar   hand since many sellers listed their      now that the spring weather is upon
to 2011. Inventory levels are also        properties earlier this year,” states     us,” explains vanLieshout. “We
stable but year-over-year prices          Switzer.                                  have a good selection of inventory
have decreased slightly. “Prices for                                                available that can meet the wish list
standard waterfront, land access          Standard prices for a 3 bedroom,          of any buyer.”
properties in the area range from         1,000 sq. ft waterfront property with
$225,000 to $400,000, and land-           land access ranges from $300,000          vanLieshout explains that prices in
access, non-waterfront properties         to $450,000 and a standard island         the area have remained stable with
range from $125,000 to $250,000,”         property (3 bedrooms, 1,000 sq. ft)       figures from 2011 and the average
said Annett.                              ranges from $250,000 to $350,000.         cost for a recreational property
                                          Those looking for a standard non-         ranges from approximately $150,000
Annett suggests that if buyers find       waterfront property (3 bedrooms,          to $350,000 in price.
a property they like, they should         1,000 sq. ft) can expect to pay
not hesitate to put in an offer. “It is   between $150,000 and $250,000.            “Buyers can expect properties
a very good time to buy since there                                                 with waterfront views to be on the
is a good selection of properties for      “These prices reflect properties that    higher end of the spectrum,” said
sale and prices are very reasonable.      are suitable for three-season use,”       vanLieshout.
We are approaching our busy selling       explains Switzer. “Buyers can expect
season and don’t expect properties        to pay more for prime waterfront          For buyers interested in investing in
to last on the market for long.”          properties or a four-season home          a recreational property, vanLieshout
                                          located around the Stoney Lake            offers the following advice: Set
                                          and Clear Lake areas, as these            realistic goals that work with your




                                                     2012 | Royal LePage Recreational Property Report |                  | 7
budget. In order to get the most out      Property sales in Kawartha Lakes         or 40s and are married, with young
of the buying process, work with a        have been similar to levels in 2011      children. We also have a large retiree
local agent who can educate and           with the most activity seen in           population who are interested in
counsel you every step of the way.        properties close to the water. A         finding a property to settle into during
                                          standard waterfront property, with       their retirement years. ”
Kawartha Lakes                            land access, costs approximately
                                          $350,000, while in-land cottages         According to Duncan, buyers in
With over 250 beautiful lakes,            have an average listing price of         Kawartha Lakes are searching for
pristine wilderness and winding           $180,000. Waterfront, water-access       properties to meet their lifestyle
rivers, Kawartha Lakes is the perfect     properties have an average cost of       needs. “Many of our buyers want to
getaway for those wanting to              approximately $150,000.                  live the ‘Great Canadian Dream’ and
escape the city lights. Located just                                               find a vacation home with a prime
90 minutes northeast of Toronto,          “Inventory levels are on par with        lakefront view.”
Kawartha Lakes offers visitors a          levels from last year and we expect
wealth of leisurely activities all year   our supply of inland properties to       For people looking to purchase a
round. From agricultural fairs to         increase now that the spring selling     recreational property in the area,
seasonal festivals and trails designed    season has officially begun,” said       Duncan offers the following advice:
specifically for canoeing, hiking,        Linda Duncan, sales representative,      “Be sure to find a REALTOR® who
biking, skiing and snowmobiling,          Royal LePage Kawartha Lakes              is familiar with the area and who
Kawartha Lakes is truly a family-         Realty Inc. “Many of the buyers who      understands your needs and wants.
oriented and memorable destination.       enter the market are in their late 30s   It may also be in your best interest
                                                                                   to speak to neighbours and locals to
                                                                                   find out everything there is to know
                                                                                   about the area.”
      Majority of recreational property buyers                                     Kingston and Ganonoque
      in Ontario prefer to buy a property that
                                                                                   Situated in the heart of eastern
      is completely renovated and requires no                                      Ontario’s Thousand Islands area,
                                                                                   Kingston and Gananoque has a
      major work                                                                   unique landscape and vibrant city
                                                                                   core which attracts buyers from




8 |            | Royal LePage Recreational Property Report | 2012
Toronto and Ottawa. Typically buyers     For those interested in purchasing        last year, while inventory levels are up
in the area include young couples        a property in the Kingston and            slightly. “We are seeing a number of
and families with children in their      Gananoque area, Carrothers offers         prospective buyers, including families
early teens.                             these words of advice: “Be patient        and couples, enter the marketplace
                                         – establish a wish list and work with     for different reasons. Many are
Market activity has increased slightly   an agent who can find you your            looking for a property they can enjoy
since 2011 and agents in the area        dream property and educate you on         with their loved ones and throughout
are seeing a growing interest for        everything you need to know about         their retirement years, while others
waterfront properties among buyers.      recreational property living.”            are interested in purchasing a
Standard prices for waterfront,                                                    recreational property before interest
land access properties range from        Land O’ Lakes                             rates climb.”
$185,000 to $325,000 and island
properties range from $175,000 to        With over 5,000 lakes in the region,      Prices for a standard waterfront, land
$210,000. Those looking for a non-       Land O’ Lakes is the perfect getaway      access three bedroom cottage in the
waterfront property, the average         for folks looking to connect with         area cost approximately $285,000,
price ranges from $75,000 to             nature. Located in Eastern Ontario,       while island properties have an
$99,000.                                 Land O’ Lakes is well known for its       average listing price of $175,000.
                                         endless adventure and family fun          Land-access, non-waterfront
“Inventory levels are consistent with    activities. Everything from hiking, ice   properties have the most affordable
figures from last year, providing a      fishing, cycling, golfing, kayaking,      price point, with properties starting at
healthy selection of properties for      boating and snowmobiling is               around $150,000.
buyers,” said Wayne Carrothers,          available. The region is also home
sales representative, Royal LePage       to several services including medical     “Buyers in the area are most likely to
ProAlliance Realty. “We have many        centres, clinics, grocery stores,         purchase recreational properties that
new subdivision properties being         farmers markets as well as marinas        are completely renovated and require
constructed throughout the area.         and boating shops.                        no major work – these properties
For those seeking a place on the                                                   typically carry higher price tags
waterfront, inventory is more limited    Chris Winney, broker with Royal           depending on the lot size and interior
so buyers should be mindful of this      LePage ProAlliance Realty, explains       work,” explains Winney.
when searching.”                         that market activity in the region is
                                         healthy and on par with levels from       She also notes that many
                                                                                   recreational owners from the region
                                                                                   live in nearby city centres that are
                                                                                   approximately 2-4 hours away by
                                                                                   car. For people interested in finding
                                                                                   out more about the Land O’ Lakes
                                                                                   area, Winney suggests that “potential
                                                                                   buyers work with a knowledgeable
                                                                                   REALTOR® who can educate you
                                                                                   about the area and answer all of your
                                                                                   recreational living questions.”

                                                                                   Meaford, Thornbury and
                                                                                   Collingwood

                                                                                   Situated on the southern shore of
                                                                                   Georgian Bay, the areas of Meaford,
                                                                                   Thornbury and Collingwood offer
                                                                                   a variety of year-round recreational
                                                                                   activities to meet the needs of any
                                                                                   Canadian. Skiing, golfing, hiking
                                                                                   and cycling are popular past-times
                                                                                   for nearby residents. The area is a
                                                                                   popular destination among folks from
                                                                                   the Greater Toronto Area and typical




                                                    2012 | Royal LePage Recreational Property Report |                 | 9
$190,000 to $220,000. Buyers
                                                                                   looking at standard island properties
    Many are looking for a property they                                           can expect to see prices in the
                                                                                   $290,000 to $390,000 range.
    can enjoy with their loved ones and
                                                                                   Evans explains that the recreational
    throughout their retirement years.                                             property market is fairly balanced.
                                                                                   “Year-over-year prices are stable
                                                                                   and are expected to stay that way
                                                                                   throughout 2012.” Evans also adds
buyers include young families and         recreational events such as the          that unit sales are up slightly this year
middle aged professionals, as well as     Centurion cycle race are available for   – a trend that has been occurring
retirees.                                 residents.”                              since 2010.

“Our recreational market is well          Muskoka                                  Parry Sound
suited for people who enjoy an
active lifestyle,” said Desmond           Lined with the glorious pink granite     If you are looking for an outstanding
von Teichman, broker/owner of             rocks of the Canadian Shield, the        vacation destination or a great
Royal LePage Locations North.             district of Muskoka is only a two-       community to call home, Parry
“Many of our buyers are looking for       hour drive north from Toronto. The       Sound is the right place for you.
properties that are close to their        area is home to the cherished towns      Located on the shores of Georgian
favorite amenities – such as ski hills,   of Bracebridge, Gravenhurst and          Bay and approximately two hours
waterfronts and golf resorts – and        Huntsville and the townships of          north of Toronto by car, Parry Sound
many are willing to pay a premium for     Lake of Bays, Georgian Bay and           offers an endless amount of activities
such features.”                           Muskoka Lakes. Filled with natural       throughout the seasons for both
                                          beauty, pristine lakes and majestic      the adventurer and the vacationer.
In 2012, average prices for               forests, Muskoka offers many             This quaint town is rich in culture,
standard inland condos range from         city-like amenities, while upholding     arts and heritage and is home to the
approximately $125,000 to $200,000        the charming lifestyle of a small        international chamber music summer
depending on the development              community.                               festival, the Festival of the Sound.
and community, while standard
waterfront, land access cottages/         “Muskoka’s unique culture attracts a     Buyers will be optimistic this spring
chalets typically sell for an average     variety of buyers, including singles,    as prices and inventory levels have
price of $500,000 - $1,000,000.           young families and retirees,” said       remained stable with figures from
“We also have a number of high-end        Don Evans, sales representative with     last year. “Our spring selling season
properties priced at over $1,000,000      Royal LePage Lakes of Muskoka.           is doing very well as a number
currently on the market,” added von       “The area has an abundance of            of buyers and sellers entered the
Teichman.                                 things to see and do all year long.      market early this year,” said Bill
                                          Everything from fishing, boating,        Kingshott, broker/owner, Royal
von Teichman explains that market         canoeing, tubing, swimming, golfing,     LePage Team Advantage Realty. We
activity and inventory levels have        shopping and fine-dining can be          have a nice variety of properties on
remained stable compared to 2011.         enjoyed throughout our region.”          the market, including several million
“The level of activity has been very                                               dollar luxury waterfront and cottage
healthy this year, and we are finding     Recreational property prices in the      properties.”
that people are still very much           Muskoka region are among the most
interested in owning a recreational       expensive in Ontario, with high-end      In Parry Sound, buyers can expect
property.”                                and luxury properties being priced       prices for standard waterfront,
                                          anywhere between $1 million and          land access properties to average
For those interested in purchasing in     $3 million, depending on the area        around $300,000, while prices for
the area, von Teichman explains that      and lake size. For those looking for     island properties are approximately
the community is constantly growing.      a standard waterfront cottage, with      $250,000. Land-access (non-
“There are several new events and         land access, situated on a large lake,   waterfront) properties typically sell for
features in our area – everything         the average costs is approximately       approximately $175,000.
from expanded ski and hiking trails,      $500,000 to $600,000, while a
festivals, equestrian events and          standard in-land cottage costs




10 |            | Royal LePage Recreational Property Report | 2012
Kingshott notes that there is a           “Activity in our recreational market    the summer months. Younger
wide variety of buyers entering the       started earlier than usual this year    families also represent a good part
marketplace. “Everyone from young         and was partly due to the mild winter   of our market and typically use their
families, mature couples and empty        we experienced here in Rideau           cottages during the summer and
nesters are interested in finding out     Lake,” said Pauline Aunger, broker/     winter holiday months,” said Aunger.
what Parry Sound has to offer. We         owner, Royal LePage Pauline Aunger
are also seeing some buyers invest        Real Estate. “Because of the high       To help her clients realize the dream
in properties with their families. This   demand, inventory levels are lower      of recreational property ownership,
is a great way to help offset higher      than what is typically expected for     Aunger offers the following advice to
prices and living expenses,” explains     this time of year.”                     prospective buyers: “Determine your
Kingshott.                                                                        needs and work with a REALTOR®
                                          Prices for recreational properties      to find out all there is to know about
Rideau Lake                               in the area have increased slightly     waterfront and non-waterfront
                                          since 2011. The average price for       recreational properties in the Rideau
The Township of Rideau Lake               a standard waterfront property,         Lake region.”
boasts an abundance of beautiful          with land-access, costs $265,000
waterfronts. From its flowing rivers,     to $400,000, while a standard           South Muskoka and Lake Country
island-studded lakes and rustic           water-access property ranges from
landscapes, Rideau Lake offers            $175,000 to $350,000. In-land           Nestled on the picturesque shoreline
buyers an excellent backdrop for a        properties average around $150,000      of Lake Couchiching and Lake
number of summertime activities,          to $200,000 in price.                   Simcoe, South Muskoka is the
such as canoeing, sailing, boating                                                perfect getaway for Canadians of
and fishing. The area is also home to     “Many of our buyers are baby            all ages. The region includes the
several festivals and fairs, which are    boomers who are looking for             breathtaking areas of Orillia and
held year-round.                          a property to enjoy either as a         Severn Lake, also referred to as
                                          permanent residence or throughout       Lake Country, and is an ideal spot




                                                    2012 | Royal LePage Recreational Property Report |              | 11
$300,000 to $450,000 in price.
                                                                                      Prices of non-waterfront properties
                                                                                      range from $200,000 to $250,000.

                                                                                      “Waterfront properties in Bayfield
                                                                                      and Grand Bend typically range on
                                                                                      the higher end – we have several
                                                                                      luxury recreational properties on the
                                                                                      market that are listing at $1,000,000
                                                                                      and above,” said Lobb. “Since
                                                                                      waterfront properties continue to
                                                                                      be the most popular choice for
                                                                                      recreational property buyers, many
                                                                                      younger buyers are deciding to rent
                                                                                      out their cottages for weeks at a time
                                                                                      to help manage living expenses.”

                                                                                      According to Lobb, people are
                                                                                      very much interested in seeking
                                                                                      properties in Southwestern Ontario.
                                                                                      “Our area is easily accessible by
for a number of seasonal activities,      “The majority of our clients purchase       several major highways, making
including water sports and cross-         recreational properties for personal        it a go-to vacation destination for
country skiing.                           enjoyment but we are seeing a               residents from Kitchener, Toronto
                                          small segment of buyers purchase            and other major city centers in
South Muskoka’s recreational              properties because they see real            Ontario.”
property market has been active in        estate as a sound investment,”
the early part of 2012 and remains on     explains McNeely.                           When asked about the type of
par with levels from last year. “Buyers                                               buyers that are scouting the area,
are still very interested in owning a     Southwestern Ontario                        Lobb states that “our clients are
recreational property,” said Stewart                                                  very diverse – we are seeing baby
McNeely, broker, Royal LePage             With its glorious sunsets, pristine         boomers selling their homes in the
Real Quest Realty Ltd. “Typically,        Lake Huron waters and natural               city to own a home on the lake,
our clients are young professionals,      landscapes, Southwestern Ontario            and young couples looking to buy
married with young children. Many         is an idyllic setting for recreational      something they can enjoy with their
buyers are from the Greater Toronto       living. This region is home to Grand        families and friends. These buyers
Area and appreciate the fact that         Bend, Goderich and Bayfield – three         view recreational real estate as a
we are only a 90 minute drive from        charming areas that feature all the         sound investment that also meets
downtown Toronto and Pearson’s            amenities of city living combined with      their lifestyle needs.”
International Airport.”                   the lovely views of lakeshore and
                                          land.                                       For those who are interested in
McNeely notes that inventory levels                                                   owning a recreational property
have increased slightly from last year,   The level of activity in the recreational   Lobb’s offers these words of advice:
while prices have remained stable.        property market is normal in                “Determine the distance you are
The average price of a standard           Southwestern Ontario, but is                willing to drive and choose a location
waterfront, three bedroom property,       expected to increase now that the           from there. Make sure your property
with land-access costs approximately      selling season has begun. Prices and        is up to building standards and most
$250,000, while a standard non-           inventory levels are also consistent        importantly, that it matches your
waterfront, three bedroom property        with figures from 2011.                     lifestyle needs.”
retails for $125,000. Standard
waterfront properties with water-         According to Fred Lobb, broker/             St. Joseph Island & Lake Huron
access properties are also available      owner of Royal LePage Heartland
throughout South Muskoka and have         Realty, the average price for a             St. Joseph Island and Lake Huron is
an average listing price of $175,000.     standard waterfront property with           a favorite travel destination among
                                          land access in the area ranges from         tourists. Located in the centre of




12 |            | Royal LePage Recreational Property Report | 2012
the Great Lakes at the mouth of the
St. Mary’s River, the area offers an
endless amount of things to do and
                                              59 per cent of intended buyers in
see – from its winter carnivals, annual       Ontario have delayed purchasing a
corn harvest, public beaches and
summertime concerts, you’re sure to           recreational property due to economic
have no problem making memories
of a lifetime.                                uncertainty
Inventory levels and prices for
recreational properties in the area       hook up and winterizing are not         Dumas explains that the average
have remained stable in comparison        often top of mind when buyers are       price for a standard waterfront
to last year. The average price for       searching for their dream cottage.”     property with water access ranges
a 1,000 sq. ft. seasonal, waterfront                                              from $165,000 to $185,000, while
cottage with land access is               Thomas agrees that buyers should        a standard waterfront property with
$140,000, while the average price         work with a local REALTOR® who          land access ranges from $210,000
for a standard 1,000 sq, ft. in-land      knows the area well and can educate     to $240,000. Standard in-land
cottage is $90,000. A waterfront,         you each step of the way.               cottages are also very popular
water-access cottage carries an                                                   among buyers and have an average
average listing price of $100,000.        Sudbury                                 listing price of $150,000 to $175,000.
“Year-round waterfront residences                                                 “Waterfront properties located on
are also a popular option among           The region of Sudbury is a true         Lake Wahnapitae, Lake Penage and
buyers and fetch prices of $200,000       haven for nature lovers and outdoor     the French River are a popular option
and above,” explains Carl Thomas,         enthusiasts alike. With over 300        among buyers who enjoy fishing and
Royal LePage Northern Advantage           freshwater lakes and rivers, Sudbury    boating,” adds Dumas.
broker/owner.                             is the ideal destination for families
                                          and retirees.                           While recognizing that a recreational
According to Thomas, market activity                                              property can provide a good financial
is up from 2011 and we are still          Alex Dumas, broker, Royal LePage        return on investment, many buyers
seeing much interest among buyers.        North Heritage Realty, states that      view their purchase primarily as
“A variety of buyers are entering the     year-over-year market activity in       a lifestyle choice. According to
market, including retirees, middle        Sudbury has increased slightly. “Our    Dumas, buyers are more interested
aged couples with older children          recreational market has been active     in purchasing a property that allows
and young families. Typically, these      this year with no major changes in      them to escape the grind of everyday
buyers are looking for a vacation         inventory levels,” states Dumas.        life and get back in touch with nature.
home suitable for four-season use,”
said Thomas.

Thomas notes that low interest rates
are a motivating factor for some
buyers. “We are seeing more people
enter the market in order to take
advantage of attractive rates, while
others are mostly driven by their
lifestyle needs.”

In order to avoid any recreational
buying pitfalls, Thomas educates
all his buyers on the area and on
the responsibilities that come with
owning a cottage. “Many buyers
are not aware of the financial costs
and time required to maintain a
recreational property. Things such
as taxes, maintenance costs, water




                                                    2012 | Royal LePage Recreational Property Report |              | 13
Manitoba                                  The average price for a standard         When asked about the advice she
                                          recreational property (waterfront,       would offer buyers, Novakoski
Lake du Bonnet                            water access) costs approximately        explains that it is important buyers
                                          $200,000, while a standard waterfront    have their finances in place and
From its endless rivers and lakes,        land access property goes for an         take their time when searching for a
solid granite hills and lush forests,     average price of $300,000. Inland        property. “Be patient and don’t be
Lake du Bonnet is one of the most         properties offer a more affordable       afraid to comparison shop so you
desirable recreational property           price point for buyers at an average     can find your dream property.”
areas in Manitoba. Located only           listing price of $160,000.
one hour from Winnipeg, Lake du                                                    Lake Winnipeg
Bonnet offers residents an endless        There are a variety of buyers who
number of activities all year round       seek out recreational properties         With its shallow waters and pristine
including swimming, fishing, golfing,     in Lake du Bonnet area, including        shorelines, Lake Winnipeg is one
snowmobiling and cross country ski        young families with children,            of the most sought out recreational
trails.                                   couples in the 40s and 50s and           properties for summer and
                                          retirees. Novakoski notes that older     wintertime fishing. Only an hour’s
 “Inventory levels have increased         Canadians typically search for           drive from Winnipeg, the area
from 2011 and we expect this to           higher-end waterfront properties that    is home to several small towns,
remain stable throughout 2012,” said      they can enjoy with their families and   including Winnipeg Beach and Gimli,
Tammy Novakoski, real estate agent        one day live in permanently. “Many       and attracts a variety of buyers.
with Royal LePage Top Producers           of these clients view recreational
Real Estate. “Buyer activity has been     properties as a sound investment.        “Market activity is fairly stable with
slower than what is usually expected      Since it’s a buyer’s market, people      levels from last year,” said Jim Muir,
for this time of year, creating more of   are purchasing now in case prices        Sales Representative of Royal LePage
a buyer’s market.”                        rise in the future.”                     Dynamic Real Estate Winnipeg.
                                                                                   “Inventory levels are down slightly,



                                                            90 per cent of owners and
                                                  intended buyers living in Manitoba/
                                                 Saskatchewan agree that a cottage
                                                      is a good long-term investment




14 |            | Royal LePage Recreational Property Report | 2012
North-East – a tranquil area filled
    Things such as taxes, maintenance                                                with rich farmland and an array of
                                                                                     forests, lakes and beaches. With
    costs, water hook up & winterizing                                               a population of just under 6,000,
                                                                                     Melfort is a growing community
    are not top of mind when buyers are                                              that offers a variety of recreational
                                                                                     properties for buyers.
    searching for their dream cottage.
                                                                                     The average price for a standard
                                                                                     waterfront, water access cottage
but we expect this number to grow         to high-end, million dollar waterfront     costs approximately $320,000, while
now that the recreational market has      cottages.”                                 a standard waterfront, land access
officially begun. With a balanced                                                    cottage is $290,000. An inland cabin
market in place this season, buyers       Jadeske notes that standard non-           (non-waterfront, land access) has an
can certainly find the recreational       waterfront, land access cabins             average price of $250,000.
property of their dreams.”                are listed at an average price of
                                          $225,000 and standard waterfront,          “Market activity is healthy and
Year-over-year recreational property      land access cabins typically sell for      has picked up slightly from this
prices in the Lake Winnipeg have          around $450,000.                           time last year,” said Joline Ozeroff,
remained stable. Waterfront, land-                                                   sales associate with Royal LePage
access properties cost an average         Buyers in their late 30s to early 50s      Hodgins Realty. “Prices and
of $300,000 and non-waterfront            are the typical buyer, but Jadeske         inventory levels have also remained in
properties are listed at an average       explains that the area’s affordable        line with figures from 2011.”
price of $125,000.                        price point is an attractive feature for
                                          younger families as well. “We have         Ozeroff explains that many buyers in
When looking for a property, Muir         folks who are entering the market          the area are purchasing properties
encourages potential buyers to            for the first time and some buyers         that can also be used as a source
understand the differences between        who are looking for a recreational         of income. “Although the majority of
recreational properties and urban-        property where they can one day            our buyers purchase due to lifestyle,
style homes. “Wells and waste issues      retire in.”                                many are becoming more open to
like garbage disposal and septic                                                     renting out their properties during
tanks aren’t necessarily top of mind      For those interested in finding a          for a few weeks a year to help cover
in city centres, and can therefore        property in the Christopher Lake           extra costs, such as land taxes.”
be very easily overlooked when            and Candle Lake regions, Jadeske
purchasing a recreational property.”      offers these words of advice: “Be          Couples and families between the
                                          sure you are prepared for rural living.    ages of 40 and 50 years old are the
Saskatchewan                              Some people who are not use to this        typical recreational property buyer in
                                          lifestyle can be a little taken aback      the Melfort area. Ozeroff notes that
Christopher & Candle Lake                 by the prospect of having a well           many buyers are also purchasing
                                          and septic tank instead of a sewer         properties with family and friends.
 Whether you enjoy the heat of            system.”                                   “This has been quite common over
summer or the adventure of winter                                                    the past few years. People are
sports, northern Saskatchewan’s            Despite the remote setting,               looking for a property to share with
recreational property markets of          Jadeske notes that there are many          their loved ones and often times,
Christopher Lake and Candle Lake          businesses and health centres in           decide to invest together.”
offer Canadians the perfect cabin         the area with extended hours –
getaway all year round.                   providing additional peace of mind         Ozeroff advises buyers in search of
                                          for recreational property users in the     a recreational property to become
“Many buyers who come to the              area.                                      familiar with the area and understand
area are looking for a home that                                                     everything there is to know about
meets their lifestyle needs,” says Hal    Melfort                                    recreational living. “In addition to this,
Jadeske, real estate agent with Royal                                                be sure you work with a REALTOR®
LePage Saskatoon Real Estate. “We         Often referred to as the “City of          who can help you find a property that
have a variety of properties available,   Northern Lights”, Melfort is situated      meets all your wishes and who can
including vacant non-waterfront lots      in the heart of Saskatchewan’s great       educate you every step of the way.”




                                                    2012 | Royal LePage Recreational Property Report |                     | 15
More than one quarter (32%) of intended buyers living in
    Manitoba/Saskatchewan would move into a smaller, more
    affordable primary residence in order to purchase their dream
    recreational property

Regina                                     a great selection of waterfront          Kerry Towle, associate broker, Royal
                                           and inland properties available to       LePage Weber. “Low interest rates
The recreational properties market of      meet any budget. Buyers should           and a stable provincial economy
southern Saskatchewan is a favorite        also be aware of the financial and       have driven demand for recreational
among young professionals and              time commitments associated              properties in the area.”
established families from surrounding      with maintaining a recreational
areas and neighbouring cities like         home. “Sometimes, buyers let             According to Towle, the average
Calgary. The area, which is a short,       their emotions take charge when          buyer in the region is looking to enjoy
easy distance from Regina, is home         searching for their dream properties     their recreational property with their
to big-city amenities, winding rivers,     and forget about the financial           extended family, rather than use their
placid lakes and the ever-popular          elements involved with maintaining a     property to generate rental income.
Regina Beach.                              cabin.”
                                                                                    “To increase affordability, we’re
Currently, prices for recreational         Alberta                                  seeing a trend of families investing
properties in the area remain                                                       together to get more bang for their
stable with figures from last year.        Glennifer Lake                           buck.”
The average price of a waterfront
property with land-access is               Glennifer Lake is one of Alberta’s       Pigeon Lake
$450,000, while inland properties          newest reservoirs and has become
average around $175,000.                   a favorite recreational spot for         Pigeon Lake is a popular holiday
                                           families and retirees. Located just      destination for families. Its location
 “Market activity is quite slow for this   90 minutes away from both Calgary        between Calgary and Edmonton
time of year,” says Mike Duggleby,         and Edmonton, Glennifer Lake offers      makes it ideal for urban buyers
broker /owner of Royal LePage              vacationers a great escape all year      looking for a recreational property
Regina Realty. “Severe flooding hit        round.                                   close to the city. The area is also
several of our recreational towns                                                   ideal for single families and Baby
in 2011 and as a result, potential         Standard waterfront water-access         Boomers looking for a summer
buyers may be holding out due to           properties (3 bedrooms, 1,000 sq.        retreat or a retirement home to settle
the uncertainty around springtime          ft) in the area sell for approximately   into. With its easy accessibility and
flooding conditions.”                      $389,900, while standard waterfront      full range of recreational activities
                                           properties with land access have an      and services, Pigeon Lake is full of
Duggleby explains that the area            average price of $349,900. Inland        non-stop fun all year-round.
has not experienced any flooding           (non-waterfront) properties are also
this year. “Flooding in southern           available and cost approximately         “In 2011, we had an oversupply of
Saskatchewan is a reality. Many            $250,000.                                properties available for sale and few
buyers who come to the area are                                                     buyers,” said Barbara Howey, broker/
aware of this and take the necessary       Year -over-year prices have              owner of Royal LePage Parkland
steps to safeguard their property.         decreased slightly in the region,        Agencies. “As we move into our 2012
By choosing a smart location and           while inventory levels have increased    season, we are witnessing a bit of
knowing what the high water levels         compared to last year.                   an increase in activity, though supply
are, you can easily mitigate the risk.”                                             continues to outweigh demand.”
                                           “The current level of activity in the
For buyers interested in purchasing        Glennifer Lake area is increasing        Howey notes that prices in the
a recreational property in the area,       as economic confidence among             Pigeon Lake region have continued
Duggleby explains that there is            buyers continues to grow,” said          to decline in 2012, and seem to




16 |             | Royal LePage Recreational Property Report | 2012
49 per cent of future recreational
    owners living in Alberta would rent
    out their property to help offset the
    mortgage and property costs

have leveled at approximately 20         can advise you on the type and cost       officially underway, we are seeing
per cent lower than last year. While     of servicing required to maintain your    interest from buyers who are looking
the region doesn’t feature any island    recreational property throughout the      for a recreational property they can
properties, prices for standard          year.”                                    enjoy with their extended families,”
waterfront, land access properties                                                 explains Towle.
range from $450,000 to $650,000,         Pine Lake
while land-access (non-waterfront)                                                 The average price for a standard
properties typically sell for $250,000   Situated in a wooded valley just 20       waterfront recreational property
to $350,000.                             minutes southeast of Red Deer and         with land access is approximately
                                         90 minutes north of Calgary, Pine         $300,000, while a standard
“It’s a buyer’s market and those         Lake has remained a popular vacation      waterfront, water-access property is
looking for recreational properties      destination for several generations.      $349,900. Standard cottages (non-
will be able to get a great price,”      Swimming, water skiing, boating,          waterfront) have an average listing
said Howey, adding that executive        golfing, hiking and fishing are just a    price of $224,900.
waterfront properties typically range    few of the many recreational activities
from $850,000 to $900,000.               available in the area.                    According to Towle, the area is ideal
                                                                                   for buyers with an eye for potential.
For those interested in purchasing       According to Kerry Towle, associate       “There are several bare lots available
a recreational property, Howey           broker, Royal LePage Weber, families      for buyers who are interested in
cautions buyers to do their research     with older children are the most          constructing their own recreational
before they begin looking. “Be sure      active buyers in the marketplace.         property,” explains Towle.
to work with a local REALTOR® who        “Now that our selling season is




                                                   2012 | Royal LePage Recreational Property Report |                | 17
15 per cent of residents from
    British Columbia rate ‘eco-friendly’ as an
    important feature for a recreational home

For those interested in purchasing a     “100 Mile House remains among            “Prices for recreational properties in
cottage in the Pine Lake area, Towle     the most affordable recreational         the area have dropped around 15 to
advises buyers to choose a location      property in B.C.,” said Melvyn Grahn,    20 per cent over the last five years.
that offers the amenities that suit      sales representative, Royal LePage       Inventory levels are relatively high this
your needs and is likely to have good    100 Mile Realty. “Market activity        quarter, making it a very attractive
resale value.                            is very healthy this year as eager       time for buyers.”
                                         buyers continue to enter the market.
British Columbia                         Like last year, many buyers are          Grahn notes that prospective buyers
                                         purchasing properties due to lifestyle   in the area tend to be between the
100 Mile House                           needs, however, we are seeing many       ages of 40 to 65. “Many of these
                                         more people purchase because they        buyers are looking for a place they
Known as the ‘Handcrafted Log            view real estate as a sound long-term    can enjoy with family and friends
Home Capital of North America,’          investment.”                             and eventually, call their permanent
100 Mile House’s rustic charm is a                                                residence when they retire.”
favorite among recreational buyers.      Standard water-access properties
Located in the South Cariboo region      sell for approximately $185,000,         Grahn recommends that interested
of British Columbia, only four hours     while land-access (non-waterfront)       buyers align themselves with
away from the Greater Vancouver          properties sell for an average price     a trusted REALTOR® who has
Area, 100 Mile House is famous for       of $132,600. Standard waterfront         extensive local knowledge. “Be sure
its beautiful lakes, plentiful outdoor   properties carry the highest price       to communicate your needs so your
activities and unique history.           tag and have an average price of         agent can make recommendations
                                         $261,200.                                and help you find the right property.”




18 |            | Royal LePage Recreational Property Report | 2012
Cranbrook

Located on the west side of
                                              63 per cent of intended buyers in
Kootenay River, Cranbrook is the              British Columbia have delayed
largest urban centre in the East
Kootenay region. Known for having             purchasing a recreational property
the most sunshine hours in all
of British Columbia, Cranbrook                due to economic uncertainty
provides residents with spectacular
waterfront views and is an outdoor
haven for sporting enthusiasts.           are now exploring other options         Despite the high prices, Gray has a
                                          north of the border. “The best advice   clear message to people considering
Prices for standard waterfront            for those looking to buy here is to     purchasing property in the area.
properties in the area sell for           take advantage of the current market    “Whether you’re looking to get into
an average price of $500,000,             and find a property that fits their     the market for recreational purposes,
while standard land access (non-          lifestyle.”                             as an investment, or both, now is an
waterfront) properties are available at                                           excellent time to buy, especially since
around $300,000.                          Kelowna                                 interest rates remain very low.”

 “Currently, our market is                Cradled in the Okanagan Valley,         Sunshine Coast
experiencing a slowdown,” said            the community of Kelowna offers
Philip Jones, broker /owner, Royal        tourists and residents a recreational   Sunshine Coast is one of the
LePage East Kootenay Realty. “We          lakeside paradise that’s filled with    province’s most affordable options
expect this downturn to pick up in        breathtaking views and mountain         for owning waterfront recreational
the next few months, especially now       scenery. Whether you’re planning a      property. Located just 40 minutes
that the province of British Columbia     holiday or looking for a recreational   away from Vancouver by ferry, the
has announced changes in HST              property to call home, Kelowna          area has plenty of outdoor activities,
regulations – as of April 1, 2012,        offers superb amenities.                festivals and events all year long.
buyers may now be eligible for a
provincial grant for sales of certain     First time buyers are the most active   A standard waterfront cottage with
recreational properties.”                 market segment, but Kelowna also        water access on the Sunshine Coast
                                          attracts young families, middle         costs approximately $550,000,
Jones notes that inventory levels are     aged couples and retirees from          while a non-waterfront property with
stable with figures from last year, but   British Columbia and surrounding        land access costs approximately
certain properties are harder to come     provinces. Many buyers who              $325,000 to $400,000. Waterfront,
by. “Buyers can expect to pay more        purchase in the area see real estate    land-access properties average
for an executive waterfront property      as a sound investment while a small     $800,000.
in certain areas. Average prices for      fraction enter the marketplace purely
these properties can be as high as        for investment purposes.                “Sunshine Coast real estate prices
$1 million,” explains Jones.                                                      are on par with figures from last
                                          “Market activity is fairly similar to   year,” says Joel O’Reilly, real estate
The Cranbrook area is home to a           levels from last year,” notes Steve     agent with Royal LePage Sunshine
variety of buyers, including young        Gray, Managing Broker of Royal          Coast. “Inventory levels are about
families, couples and retirees. “A        LePage Kelowna. “Inventory levels       the same as last year and will likely
large number of buyers are from           are very healthy and reflect levels     remain stable throughout 2012.”
Alberta or Saskatchewan and are           from 2011. Prices have also remained
looking for a recreational property       stable over the past year.”             O’Reilly notes that there is more
that is an easy commute from                                                      confidence in the marketplace this
Calgary or Edmonton,” Jones added.        Non-waterfront condominiums carry       year, so many of those who have put
                                          an average listing price of $210,000    off the idea of owning a recreational
A common trend among buyers is to         to $230,000, while waterfront resort    property are now making the move.
invest in properties with families and    properties start at approximately       “Our stable pricing represents an
friends. Jones also notes that many       $400,000 and may fetch as much as       incredible buying opportunity. We’ve
buyers, who originally searched for       $1.3 million.                           had a busy few months and if this
recreational properties in the U.S.,                                              spring is any indication this year




                                                    2012 | Royal LePage Recreational Property Report |                | 19
should surpass 2011 as far as sales        numerous cycling and hiking trails,
activity.”                                 Vernon is an attractive destination for
                                           both residents and tourists alike.
                                                                                         We are seeing
Families and couples between the                                                         some buyers
ages of 40 and 60 and retirees still       “A large percentage of Vernon’s
dominate the marketplace. “We              recreational property market is made          purchase
have a variety of properties available     up of buyers from neighbouring
to meet the needs and budget of            regions, including Alberta, where             properties with
any buyer. Everything from small
cottages in the woods to million
                                           approximately 14 per cent of our
                                           buyers come from,” says Riley                 family and
dollar waterfront properties are
available.”
                                           Twyford, Broker/Owner, Royal
                                           LePage Downtown Realty in Vernon.
                                                                                         friends to help
                                           “Currently, prices and market activity        offset costs.
O’Reilly explains that the Sunshine        have dropped off slightly when
Coast has undergone many                   compared to figures from last year. In
changes in recent months, including        2012, we’ve seen less interest from
improvements to the local airport and      Alberta buyers, and as a result, we       property,” explains Twyford. “The
full-service hospital, which add to        expect inventory levels to increase       area has also seen several fractional
the area’s desirability. “This is a very   throughout the rest of 2012 creating      properties being constructed, which
exciting time for the Sunshine Coast       more of a buyer’s market.”                is another option for buyers looking
as we have experienced significant                                                   to enter the recreational property
growth over the past year.”                The average price for an inland           market but at a lower price point.”
                                           property in the Mara Lake, Silver
Vernon                                     Star Mountain Resort and Predator         For those interested in purchasing
                                           Ridge Resort areas is approximately       a recreational property in
Nestled in the grassland hills of the      $400,000.                                 Vernon, Twyford recommends
Okanagan Valley, Vernon is home                                                      that prospective buyers do their
to hundreds of small fishing lakes,         “Similar to last year, we are seeing     homework. “Understand the costs of
world renowned golf courses and the        some buyers purchase properties           ownership and make sure you find
famous Silver Star Mountain Resort.        with family and friends to help           a property that suits your lifestyle
With its city-like amenities and           offset the costs of owning another        needs.”




20 |            | Royal LePage Recreational Property Report | 2012
For further information,            Memphrémagog                           Kawartha Lakes
please contact:
                                    Christian Longpré                      Linda Duncan		
Sarah Louise Gardiner               819.868.5000                           705.887.1010			
Account Director                    Christian@longprelamirande.com         lduncan@nexicom.net		
Fleishman-Hillard                   Royal LePage Au Sommet                 Royal LePage Kawartha Lakes
416.644.2907                        www.longprelamirande.com               Realty				
Sarah.gardiner@fleishman.ca                                                http://www.lindaduncan.ca/
                                    Mont-Tremblant
Tammy Gilmer                                                               Kingston/Ganonoque
Director, Public Relations and      Paul Dalbec
National Communications             819.425.3777                           Wayne Carrothers	
Royal LePage Real Estate Services   pauldalbec@royallepage.ca              613.384.1200			
416.510.5783                        Royal LePage Mont-Tremblant            wayjo@sympatico.ca		
tglimer@royallepage.ca              www.royallepagetremblant.com           Royal LePage ProAlliance Realty	
                                                                           www.wayneandjoe.com
Regional Spokespersons              Lanaudière
                                                                           Land O’ Lakes
New Brunswick                       Guylaine Pelletier	
                                    450.831.8484		                         Chris Winney		
Carla Bouchard		                    guylainepelletier@royallepage.ca	      Chriswinney1@aol.com		
506.857.0555		                      Royal LePage Harmonie	                 Royal LePage ProAlliance Realty	
cbouchard@royallepage.ca	           http://agents.royallepage.ca/          http://www.landolakesproperty.com/
Royal LePage Metro		                harmonie
www.monctonroyallepage.com                                                 Meaford, Thornbury and Collingwood
                                    Ontario
Newfoundland                                                               Desmond von Teichman	
                                    Bruce Peninsula                        519.538.5755			
Glenn Larkin                                                               teichman@royallepage.ca	
709.685.2502                        Paul Annett                            Royal LePage Locations North	
glennlarkin@royallepage.ca          519.793.3544                           www.locationsnorth.com
Royal LePage Professionals 2000     pannett@bmts.com
www.royallepage.ca/glennlarkin      Royal LePage RCR Realty                Muskoka
                                    www.royallepage.ca/paulannett
Prince Edward Island                                                       Don Evans		
                                    East Kawarthas                         705.765.6855			
Ken Peters                                                                 dgevans@muskoka.com		
902.892.5355                        Bruce Switzer		                        Royal LePage Lakes of Muskoka	
kenpeters@royallepage.ca            705.748.4056			                        http://www.muskokalakesrealestate.
Royal LePage Peters & Lank Realty   bswitzer@bellnet.ca		                  com/
www.lank.com                        Royal LePage Frank Real Estate	
                                    www.durhamresidential.com/             Parry Sound
Québec
                                    Haliburton Highlands                   Bill Kingshott		
Eastern Townships                                                          705.746.5844		
                                    Anthony vanLieshout                    billkingshott@royallepage.ca	
Robert Charbonneau		                705.457.2414                           Royal LePage Team Advantage
450.266.7711		                      anthony@royallepage.ca                 Realty				
rcharbonneau@royallepage.ca	        Royal LePage Lakes of Haliburton       www.royallepage.ca/teamadvantage
Royal LePage Action Courtier	       www.trilliumteam.ca
www.royallepageaction.ca




                                              2012 | Royal LePage Recreational Property Report |              | 21
Rideau Lake                             Lake Winnipeg                          British Columbia

Pauline Aunger		                        Jim Muir                               100 Mile House
613.283.6666		                          204.989.5000
paulineaunger@royallepage.ca	           JimMuir@royallepage.ca                 Melvyn Grahn
Royal LePage Pauline Aunger Real        Royal LePage Dynamic Real Estate       250.395.3424
Estate                                  www.jimmuir.ca                         mel@melgrahn.com
                                                                               Royal LePage 100 Mile Realty
South Muskoka                           Saskatchewan                           www.melgrahn.com

Stewart McNeely	                        Christopher & Candle Lake              Cranbrook
705.327.9999			
stewartmcneely@royallepage.ca	          Hal Jadeske                            Philip Jones
Royal LePage Real Quest Realty Ltd.     306.242.3535                           250.426.8211
http://www.royallepagerealquest.ca/     haljadeske@royallepage.ca              philip@ekrealty.com
                                        Royal LePage Saskatoon Real Estate     Royal LePage East Kootenay Realty
Southwestern Ontario                    www.lakelandresortrealestate.ca        www.ekrealty.com

Fred Lobb		                             Melfort                                Kelowna
519.482.3400			
fredlobb@royallepage.ca		               Joline Ozeroff		                       Steve Gray
Royal LePage Heartland Realty	          306.921.4095		                         250.860.1100
www.rlpheartland.ca                     jolineozeroff@royallepage.ca	          steve@kelowna.royallepage.ca
                                        Royal LePage Hodgins Realty	           Royal LePage Kelowna
St. Joseph Island & Lake Huron          http://agents.royallepage.ca/melfort   www.royallepagekelowna.com

Carl Thomas		                           Regina                                 Sunshine Coast
705.942.6000		
carlthomas@royallepage.ca	              Mike Duggleby                          Bill Binnie
Royal LePage Northern Advantage	        306.359.1900                           604.926.6011
http://www.royallepagesault.ca/         mikeduggleby@royallepage.ca            billbinnie@royallepage.ca
indexa.htm                              Royal LePage Regina Realty             Royal LePage Sunshine Coast
                                        www.royallepageregina.com
Sudbury                                                                        Vernon
                                        Alberta
Alex Dumas		                                                                   Riley Twyford, Broker/Owner
705.688.0007		                          Glennifer Lake & Pine Lake             250.545.5371
AlexDumas@royallepage.ca	                                                      riley@royallepagevernon.com
Royal LePage North Heritage Realty	     Barbara Howey                          Royal LePage Downtown Realty
www.royallepage.ca/sudbury              Kerry Towle		                          www.royallepagevernon.com
                                        403.302.8496			
Manitoba                                kerrytowle@royallepage.ca	
                                        Royal LePage Weber		
Lac du Bonnet                           http://agents.royallepage.ca/
                                        kerrytowle
Tammy Novakoski	
204.989.6900			                         Pigeon Lake
tammysells@mts.net		
Royal LePage Top Producers              Barbara Howey
Real Estate		                           780.352.6671
http://agents.royallepage.ca/           barbarahowey@royallepage.ca
GlennPonomarenko/216366                 Royal LePage Parkland Agencies
                                        http://agents.royallepage.ca/
                                        barbarahowey




22 |            | Royal LePage Recreational Property Report | 2012

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2012 royal le page recreational propery report may 2012

  • 2.
  • 3. Table of contents 2. Prince Edward Island 3. Newfoundland 3. New Brunswick 4. Quebec 6. Ontario 14. Manitoba 15. Saskatchewan 16. Alberta 18. British Columbia 2012 | Royal LePage Recreational Property Report | | 1
  • 4. Regional Summaries Prince Edward Island - $140,000, whereas a standard waterfront, land access property From its stunning landscapes to sells for approximately $120,000 - its sandy east coast beaches, PEI is an ideal vacation destination for $200,000. These buyers Canadians of all ages. Not only Peters notes that although the are looking is PEI home to some of Canada’s majority of buyers purchase oldest historical monuments, but the recreational properties for lifestyle for properties province offers many cultural and opportunities, many are increasingly adventurous activities all year round. looking for properties from which they can not “PEI’s recreational market is off to they can draw a secondary income. “Both younger families and semi- only enjoy for a good start this year,” said Ken Peters, broker/owner, Royal LePage retirees make up the large majority of our buyers. These buyers are looking themselves, Peters & Lank Realty. “Unit sales for properties that they can not only but use as a have increased slightly from this time enjoy for themselves, but use as a last year and we expect this figure to secondary income stream.” secondary grow in the coming months as more people enter the marketplace.” According to Peters, there is a income stream. misconception that recreational Average prices for a standard in-land properties can only be leased in PEI property in PEI range from $80,000 for out of province buyers. “Although 2 | | Royal LePage Recreational Property Report | 2012
  • 5. whale watching, iceberg exploring, boating, skiing, music festivals and cultural events. “The majority of buyers are locals in their late 30s or 40s, who are looking for a vacation home to enjoy with their families,” states Larkin. When asked about a common misconception among buyers searching for a recreational home, Larkin states that many people are not aware of the recreational market and what properties typically sell for. “Many buyers don’t match their wants with their budgets. Many expect that they can get a great ocean view property for a bargain. My best advice for those who are interested in purchasing in the area is to work with a trusted Approximately 22 per cent of Canadians REALTOR® who can provide you with accurate market information.” living in Atlantic Canada use their New Brunswick recreational property as a retirement property and live there part-time The New Brunswick area is as renowned for its spirited Acadian culture as it is for its beautiful marine wonders, mountainous landscapes there are a few regulations that out The average price for a standard and sandy beaches. Situated on of province buyers might have to waterfront property, with water access, Canada’s east coast along the adhere to, in the vast majority of costs $106,500, while a standard Atlantic Ocean, the province is easily sales these regulations do not apply.” property, with waterfront and land accessible by the Trans-Canada access, costs $132,000. The average Highway, making it an easy drive For those interested in purchasing price for a standard non-waterfront from Ontario and Québec. in the Prince Edward Island area, property in the province is $93,500. Peters recommends that buyers do “The recreational property market their homework. “It’s important to Glenn Larkin, agent with Royal LePage in New Brunswick is beginning to find the right real estate agent that Professionals 2000, notes that prices ramp up as we enter cottage country knows the recreational market and for recreational properties have season,” said Carla Bouchard, can help you find a property that increased by 10 per cent from 2011, broker/owner, Royal LePage Metro. best suits your needs.” while inventory levels have decreased “Inventory levels across most slightly from last year. “We had a very property types are up this season Newfoundland mild winter, which prompted our selling and will likely increase throughout season to begin sooner than usual,” 2012.” Newfoundland is an ideal destination states Larkin. “Overall, market activity for anyone wanting to get back in is fairly active and we are seeing that Waterfront properties continue to be touch with nature. Surrounded by buyers are still very much interested in in high demand – this is especially 29,000 kilometers of coastline, the purchasing a recreational property in true among buyers, between province is filled with lush forests, Newfoundland.” the ages of 40 and 50, who are sweeping barrens and ancient rock looking for a four-season property formations. The seasonal temperatures According to Larkin, many buyers are they can enjoy with their children. in the region also make it a great drawn to the area because there are “Many families who buy recreational vacation destination all year round. many recreational activities, including properties in New Brunswick do so 2012 | Royal LePage Recreational Property Report | | 3
  • 6. because they view their purchases Quebec Robert Charbonneau, a real estate as a sound real estate investment, agent with Royal LePage Action. “We and want to invest in a property they Eastern Townships see a lot of professionals and young can enjoy throughout the year.” families looking for a quiet place or No need to drive for hours to get away a vacation spot that will bring them Bouchard notes that the average from the urban lifestyle. Less than an piece of mind. These buyers are also price of standard waterfront property hour drive from downtown Montréal, interested in finding a property where with land access costs $110,000, Eastern Townships bring a whole they can take advantage of the area’s while a standard water access new lifestyle dimension to recreational many activities, which are offered all property costs $170,000. In-land property living. This popular vacation year-round.” properties (non-waterfront) are also spot offers a variety of outdoor, available and have an average price cultural and gourmet activities to Waterfront properties and those of $65,000. satisfy any buyer. with access to nearby ski slopes are in high demand in the Eastern For those looking for a property “Potential buyers in our area are Townships. “Upscale recreational in the area, Bouchard advises interested in finding a recreational properties represent a very interesting that buyers research the area and property that meets their lifestyle market. Buyers would be surprised by become informed about all the costs needs. Ideally, they are looking for a the good deals they could find there,” and maintenance required with second home where they can relax states Charbonneau. owning a recreational property. with their family and loved ones,” says Almost all (98.6%) of current owners and intended buyers surveyed in Atlantic Canada agree that a cottage/ recreational property is a great way to bring family together 4 | | Royal LePage Recreational Property Report | 2012
  • 7. Year-over-year prices have increased slightly from last year. On average, waterfront properties 77 per cent of owners and intended sell for approximatley $300,000 to buyers living in Quebec feel that $1,000,000, while properties with water access range from $350,000 purchasing a recreational property gives and $1,000,000. Land access (not waterfront) properties sell for between a larger return on investment than the $170,000 and $300,000 on average. stock market Memphrémagog Located in the Eastern Townships this region features properties to the next five years will see the region, Memphrémagog is a favourite suit most desires. “But there’s Ironman Mont-Tremblant, a triathlon tourist destination among Canadians. one feature that’s clearly the most race, take place in the heart of the The view of Lake Memphrémagog popular among buyers in the region. With so much to do and see, covers more than 40 kilometres, and region: tranquility,” states Longpré. Mont-Tremblant remains very popular the mountains forming Mont-Orford “Our buyers are looking for a quiet with recreational property buyers. National Park and Mont-Orford are property in a resort area. They want a magical destination for visitors. to be able to take advantage of the “Buyers always hope to get a great Prospective buyers will be also region’s attractions and spend quality deal when they come to see us and pleased with local attractions; in fact, time with their family and friends.” often, their planned budgets do not visitors can enjoy Memphrémagog correlate with market prices. That getaways on the Grand Cru luxury The average price of recreational being said, agents are able to find boat that will take them to the properties has remained stable when recreational properties to suit most majestic Lake Memphrémagog, the compared to the same period last budgets and needs,” says Paul new Memphrémagog Library, which year. The average price of a standard Dalbec, a certified real estate agent is built in a former church, as well waterfront property with land access with Royal LePage Région Mont- as a rest area and a tourist office is around $230,000 and that of a Tremblant. “These days, buyers currently being built along highway standard waterfront property is want to buy recreational properties 100 at exit 115. approximately $336,000. to relax in while also enjoying the numerous attractions offered by “The main reason people come to Mont-Tremblant Mont-Tremblant. We are very proud settle in Memphrémagog is to enjoy to have the IronMan Mont-Tremblant regional activities. Young families are Mont-Tremblant is very busy in for the next five years. There is no looking for recreational properties to both summer and winter and doubt that this sporting event will have as a secondary residence to the mountain’s reputation as a attract thousands of visitors and enjoy and where they can get away recreational getaway has stood for will only reinforce the mountain’s from urban life,” explains Christian generations. This resort is the perfect reputation as a great place for sports Longpré, a certified real estate agent place to spend holidays. Skiing, and outdoor activities.” with Royal LePage Au Sommet. biking, hiking, golf and relaxation enthusiasts, just to name a few, will Waterfront properties and condos Recreational property buyers enjoy the vast selection of activities located at the heart of Station Mont- have many different needs and and events in the region. In addition, Tremblant are always in demand. “People want a hideaway that will be close to ski slopes or the lake,” explains Dalbec, who added that 69 per cent of Quebec residents value ”we are noticing that buyers want to own recreational property so that peace and quiet and rate this as an their family and friends can enjoy it. As a result, renting is becoming important feature for a recreational increasingly less common in the region.” property 2012 | Royal LePage Recreational Property Report | | 5
  • 8. According to Pelletier, typical buyers in Lanaudière are “young families People want a hideaway that is close to with children that want to be able to enjoy nature and the many cultural ski slopes or the lake. activities offered in the region.” Pelletier noted that while some buyers rent out their properties to increase affordability, this practice The average price of a standard Matha and St-Gabriel-de-Brandon is becoming increasingly less waterfront property is approximately are beautiful areas of Lanaudière, common,. $750,000, that of a standard which harmoniously combines nature waterfront property with land access and culture. This region has a lot to The average price of a standard is around $475,000 and that of a offer to recreational property buyers. waterfront, water-access property is property with land access (in-land) is between $125,000 and $400,000. $275,000. “People tend to think that it is The price of a standard waterfront possible to find a large waterfront property with land access is between Lanaudière recreational property, isolated $80,000 and $225,000. The price of from neighbours, for $100,000 in a property with land access (in-land) Lanaudière is a colourful region the Lanaudière region. That’s not is between $80,000 and $200,000. offering a variety of activities to suit exactly the case,” explains Guylaine all tastes. With its wide open and wild Pelletier, certified real estate agent Ontario spaces, as well as its 10,000 lakes with Royal LePage Harmonie. “Still, and rivers, the region is, without the area’s many amenities and wide Bruce Peninsula a doubt, an outdoor paradise. price ranges mean that buyers are Located on the outskirts of Montréal, able to find what they’re looking for in With over 500 miles of majestic Rawdon, Saint-Donat, St-Jean-de- Lanaudière.” shoreline, Bruce Peninsula offers 6 | | Royal LePage Recreational Property Report | 2012
  • 9. recreational properties are harder to Approximately 82 per cent of current come by.” recreational owners in Ontario do not For buyers interested in finding out about what the areas of East rent out their recreational property to Kawarthas has to offer, Switzer recommends potential buyers work help offset their mortgage or other with a local REALTOR® who has property costs extensive rural and cottage-country knowledge. Haliburton Highlands vacationers an all-season destination. East Kawarthas The area’s rich culture and natural Located in south central Ontario’s beauty makes it an ideal recreational Surrounded by white waters and beautiful cottage country area, area for young buyers with small rocky islands, the area of East Haliburton offers an amazing range children and adults between the Kawarthas is the perfect recreational of relaxing and adventurous activities ages of 40 and 60 who are thinking spot for a variety of buyers, including for people of all ages. From its about retirement. retirees, young families and mature famous Algonquin Provincial Park, couples. The region is home to the pristine lakes and dog sleigh trails, “The Bruce Peninsula area is a great majestic Stoney Lake and Clear Lake Haliburton is a great destination all place for buyers who want to escape areas and offers visitors an endless year round. the city and get back in touch with amount of leisurely fun all year long. nature,” said Paul Annett, sales The region’s recreational property representative, Royal LePage RCR Bruce Switzer, manager of Royal market got off to a slower start Realty. “There are many adventurous LePage Frank Real Estate, explains this year but Anthony vanLieshout, and leisurely activities available for that market activity is very strong for broker/owner of Royal LePage Lakes the entire family, including hiking, this time of year. “We had a very mild of Haliburton, explains that interest scuba diving, snowmobiling, skiing, winter which prompted our spring among buyers is still very strong. horse shows, village fairs and much selling season to begin earlier than more.” usual. Because of this, year-over-year “Sales are down slightly compared to market activity is up slightly and we this time last year, but we are seeing Annett explains that activity levels have a good selection of inventory on a variety of buyers enter the market for recreational properties are similar hand since many sellers listed their now that the spring weather is upon to 2011. Inventory levels are also properties earlier this year,” states us,” explains vanLieshout. “We stable but year-over-year prices Switzer. have a good selection of inventory have decreased slightly. “Prices for available that can meet the wish list standard waterfront, land access Standard prices for a 3 bedroom, of any buyer.” properties in the area range from 1,000 sq. ft waterfront property with $225,000 to $400,000, and land- land access ranges from $300,000 vanLieshout explains that prices in access, non-waterfront properties to $450,000 and a standard island the area have remained stable with range from $125,000 to $250,000,” property (3 bedrooms, 1,000 sq. ft) figures from 2011 and the average said Annett. ranges from $250,000 to $350,000. cost for a recreational property Those looking for a standard non- ranges from approximately $150,000 Annett suggests that if buyers find waterfront property (3 bedrooms, to $350,000 in price. a property they like, they should 1,000 sq. ft) can expect to pay not hesitate to put in an offer. “It is between $150,000 and $250,000. “Buyers can expect properties a very good time to buy since there with waterfront views to be on the is a good selection of properties for “These prices reflect properties that higher end of the spectrum,” said sale and prices are very reasonable. are suitable for three-season use,” vanLieshout. We are approaching our busy selling explains Switzer. “Buyers can expect season and don’t expect properties to pay more for prime waterfront For buyers interested in investing in to last on the market for long.” properties or a four-season home a recreational property, vanLieshout located around the Stoney Lake offers the following advice: Set and Clear Lake areas, as these realistic goals that work with your 2012 | Royal LePage Recreational Property Report | | 7
  • 10. budget. In order to get the most out Property sales in Kawartha Lakes or 40s and are married, with young of the buying process, work with a have been similar to levels in 2011 children. We also have a large retiree local agent who can educate and with the most activity seen in population who are interested in counsel you every step of the way. properties close to the water. A finding a property to settle into during standard waterfront property, with their retirement years. ” Kawartha Lakes land access, costs approximately $350,000, while in-land cottages According to Duncan, buyers in With over 250 beautiful lakes, have an average listing price of Kawartha Lakes are searching for pristine wilderness and winding $180,000. Waterfront, water-access properties to meet their lifestyle rivers, Kawartha Lakes is the perfect properties have an average cost of needs. “Many of our buyers want to getaway for those wanting to approximately $150,000. live the ‘Great Canadian Dream’ and escape the city lights. Located just find a vacation home with a prime 90 minutes northeast of Toronto, “Inventory levels are on par with lakefront view.” Kawartha Lakes offers visitors a levels from last year and we expect wealth of leisurely activities all year our supply of inland properties to For people looking to purchase a round. From agricultural fairs to increase now that the spring selling recreational property in the area, seasonal festivals and trails designed season has officially begun,” said Duncan offers the following advice: specifically for canoeing, hiking, Linda Duncan, sales representative, “Be sure to find a REALTOR® who biking, skiing and snowmobiling, Royal LePage Kawartha Lakes is familiar with the area and who Kawartha Lakes is truly a family- Realty Inc. “Many of the buyers who understands your needs and wants. oriented and memorable destination. enter the market are in their late 30s It may also be in your best interest to speak to neighbours and locals to find out everything there is to know about the area.” Majority of recreational property buyers Kingston and Ganonoque in Ontario prefer to buy a property that Situated in the heart of eastern is completely renovated and requires no Ontario’s Thousand Islands area, Kingston and Gananoque has a major work unique landscape and vibrant city core which attracts buyers from 8 | | Royal LePage Recreational Property Report | 2012
  • 11. Toronto and Ottawa. Typically buyers For those interested in purchasing last year, while inventory levels are up in the area include young couples a property in the Kingston and slightly. “We are seeing a number of and families with children in their Gananoque area, Carrothers offers prospective buyers, including families early teens. these words of advice: “Be patient and couples, enter the marketplace – establish a wish list and work with for different reasons. Many are Market activity has increased slightly an agent who can find you your looking for a property they can enjoy since 2011 and agents in the area dream property and educate you on with their loved ones and throughout are seeing a growing interest for everything you need to know about their retirement years, while others waterfront properties among buyers. recreational property living.” are interested in purchasing a Standard prices for waterfront, recreational property before interest land access properties range from Land O’ Lakes rates climb.” $185,000 to $325,000 and island properties range from $175,000 to With over 5,000 lakes in the region, Prices for a standard waterfront, land $210,000. Those looking for a non- Land O’ Lakes is the perfect getaway access three bedroom cottage in the waterfront property, the average for folks looking to connect with area cost approximately $285,000, price ranges from $75,000 to nature. Located in Eastern Ontario, while island properties have an $99,000. Land O’ Lakes is well known for its average listing price of $175,000. endless adventure and family fun Land-access, non-waterfront “Inventory levels are consistent with activities. Everything from hiking, ice properties have the most affordable figures from last year, providing a fishing, cycling, golfing, kayaking, price point, with properties starting at healthy selection of properties for boating and snowmobiling is around $150,000. buyers,” said Wayne Carrothers, available. The region is also home sales representative, Royal LePage to several services including medical “Buyers in the area are most likely to ProAlliance Realty. “We have many centres, clinics, grocery stores, purchase recreational properties that new subdivision properties being farmers markets as well as marinas are completely renovated and require constructed throughout the area. and boating shops. no major work – these properties For those seeking a place on the typically carry higher price tags waterfront, inventory is more limited Chris Winney, broker with Royal depending on the lot size and interior so buyers should be mindful of this LePage ProAlliance Realty, explains work,” explains Winney. when searching.” that market activity in the region is healthy and on par with levels from She also notes that many recreational owners from the region live in nearby city centres that are approximately 2-4 hours away by car. For people interested in finding out more about the Land O’ Lakes area, Winney suggests that “potential buyers work with a knowledgeable REALTOR® who can educate you about the area and answer all of your recreational living questions.” Meaford, Thornbury and Collingwood Situated on the southern shore of Georgian Bay, the areas of Meaford, Thornbury and Collingwood offer a variety of year-round recreational activities to meet the needs of any Canadian. Skiing, golfing, hiking and cycling are popular past-times for nearby residents. The area is a popular destination among folks from the Greater Toronto Area and typical 2012 | Royal LePage Recreational Property Report | | 9
  • 12. $190,000 to $220,000. Buyers looking at standard island properties Many are looking for a property they can expect to see prices in the $290,000 to $390,000 range. can enjoy with their loved ones and Evans explains that the recreational throughout their retirement years. property market is fairly balanced. “Year-over-year prices are stable and are expected to stay that way throughout 2012.” Evans also adds buyers include young families and recreational events such as the that unit sales are up slightly this year middle aged professionals, as well as Centurion cycle race are available for – a trend that has been occurring retirees. residents.” since 2010. “Our recreational market is well Muskoka Parry Sound suited for people who enjoy an active lifestyle,” said Desmond Lined with the glorious pink granite If you are looking for an outstanding von Teichman, broker/owner of rocks of the Canadian Shield, the vacation destination or a great Royal LePage Locations North. district of Muskoka is only a two- community to call home, Parry “Many of our buyers are looking for hour drive north from Toronto. The Sound is the right place for you. properties that are close to their area is home to the cherished towns Located on the shores of Georgian favorite amenities – such as ski hills, of Bracebridge, Gravenhurst and Bay and approximately two hours waterfronts and golf resorts – and Huntsville and the townships of north of Toronto by car, Parry Sound many are willing to pay a premium for Lake of Bays, Georgian Bay and offers an endless amount of activities such features.” Muskoka Lakes. Filled with natural throughout the seasons for both beauty, pristine lakes and majestic the adventurer and the vacationer. In 2012, average prices for forests, Muskoka offers many This quaint town is rich in culture, standard inland condos range from city-like amenities, while upholding arts and heritage and is home to the approximately $125,000 to $200,000 the charming lifestyle of a small international chamber music summer depending on the development community. festival, the Festival of the Sound. and community, while standard waterfront, land access cottages/ “Muskoka’s unique culture attracts a Buyers will be optimistic this spring chalets typically sell for an average variety of buyers, including singles, as prices and inventory levels have price of $500,000 - $1,000,000. young families and retirees,” said remained stable with figures from “We also have a number of high-end Don Evans, sales representative with last year. “Our spring selling season properties priced at over $1,000,000 Royal LePage Lakes of Muskoka. is doing very well as a number currently on the market,” added von “The area has an abundance of of buyers and sellers entered the Teichman. things to see and do all year long. market early this year,” said Bill Everything from fishing, boating, Kingshott, broker/owner, Royal von Teichman explains that market canoeing, tubing, swimming, golfing, LePage Team Advantage Realty. We activity and inventory levels have shopping and fine-dining can be have a nice variety of properties on remained stable compared to 2011. enjoyed throughout our region.” the market, including several million “The level of activity has been very dollar luxury waterfront and cottage healthy this year, and we are finding Recreational property prices in the properties.” that people are still very much Muskoka region are among the most interested in owning a recreational expensive in Ontario, with high-end In Parry Sound, buyers can expect property.” and luxury properties being priced prices for standard waterfront, anywhere between $1 million and land access properties to average For those interested in purchasing in $3 million, depending on the area around $300,000, while prices for the area, von Teichman explains that and lake size. For those looking for island properties are approximately the community is constantly growing. a standard waterfront cottage, with $250,000. Land-access (non- “There are several new events and land access, situated on a large lake, waterfront) properties typically sell for features in our area – everything the average costs is approximately approximately $175,000. from expanded ski and hiking trails, $500,000 to $600,000, while a festivals, equestrian events and standard in-land cottage costs 10 | | Royal LePage Recreational Property Report | 2012
  • 13. Kingshott notes that there is a “Activity in our recreational market the summer months. Younger wide variety of buyers entering the started earlier than usual this year families also represent a good part marketplace. “Everyone from young and was partly due to the mild winter of our market and typically use their families, mature couples and empty we experienced here in Rideau cottages during the summer and nesters are interested in finding out Lake,” said Pauline Aunger, broker/ winter holiday months,” said Aunger. what Parry Sound has to offer. We owner, Royal LePage Pauline Aunger are also seeing some buyers invest Real Estate. “Because of the high To help her clients realize the dream in properties with their families. This demand, inventory levels are lower of recreational property ownership, is a great way to help offset higher than what is typically expected for Aunger offers the following advice to prices and living expenses,” explains this time of year.” prospective buyers: “Determine your Kingshott. needs and work with a REALTOR® Prices for recreational properties to find out all there is to know about Rideau Lake in the area have increased slightly waterfront and non-waterfront since 2011. The average price for recreational properties in the Rideau The Township of Rideau Lake a standard waterfront property, Lake region.” boasts an abundance of beautiful with land-access, costs $265,000 waterfronts. From its flowing rivers, to $400,000, while a standard South Muskoka and Lake Country island-studded lakes and rustic water-access property ranges from landscapes, Rideau Lake offers $175,000 to $350,000. In-land Nestled on the picturesque shoreline buyers an excellent backdrop for a properties average around $150,000 of Lake Couchiching and Lake number of summertime activities, to $200,000 in price. Simcoe, South Muskoka is the such as canoeing, sailing, boating perfect getaway for Canadians of and fishing. The area is also home to “Many of our buyers are baby all ages. The region includes the several festivals and fairs, which are boomers who are looking for breathtaking areas of Orillia and held year-round. a property to enjoy either as a Severn Lake, also referred to as permanent residence or throughout Lake Country, and is an ideal spot 2012 | Royal LePage Recreational Property Report | | 11
  • 14. $300,000 to $450,000 in price. Prices of non-waterfront properties range from $200,000 to $250,000. “Waterfront properties in Bayfield and Grand Bend typically range on the higher end – we have several luxury recreational properties on the market that are listing at $1,000,000 and above,” said Lobb. “Since waterfront properties continue to be the most popular choice for recreational property buyers, many younger buyers are deciding to rent out their cottages for weeks at a time to help manage living expenses.” According to Lobb, people are very much interested in seeking properties in Southwestern Ontario. “Our area is easily accessible by for a number of seasonal activities, “The majority of our clients purchase several major highways, making including water sports and cross- recreational properties for personal it a go-to vacation destination for country skiing. enjoyment but we are seeing a residents from Kitchener, Toronto small segment of buyers purchase and other major city centers in South Muskoka’s recreational properties because they see real Ontario.” property market has been active in estate as a sound investment,” the early part of 2012 and remains on explains McNeely. When asked about the type of par with levels from last year. “Buyers buyers that are scouting the area, are still very interested in owning a Southwestern Ontario Lobb states that “our clients are recreational property,” said Stewart very diverse – we are seeing baby McNeely, broker, Royal LePage With its glorious sunsets, pristine boomers selling their homes in the Real Quest Realty Ltd. “Typically, Lake Huron waters and natural city to own a home on the lake, our clients are young professionals, landscapes, Southwestern Ontario and young couples looking to buy married with young children. Many is an idyllic setting for recreational something they can enjoy with their buyers are from the Greater Toronto living. This region is home to Grand families and friends. These buyers Area and appreciate the fact that Bend, Goderich and Bayfield – three view recreational real estate as a we are only a 90 minute drive from charming areas that feature all the sound investment that also meets downtown Toronto and Pearson’s amenities of city living combined with their lifestyle needs.” International Airport.” the lovely views of lakeshore and land. For those who are interested in McNeely notes that inventory levels owning a recreational property have increased slightly from last year, The level of activity in the recreational Lobb’s offers these words of advice: while prices have remained stable. property market is normal in “Determine the distance you are The average price of a standard Southwestern Ontario, but is willing to drive and choose a location waterfront, three bedroom property, expected to increase now that the from there. Make sure your property with land-access costs approximately selling season has begun. Prices and is up to building standards and most $250,000, while a standard non- inventory levels are also consistent importantly, that it matches your waterfront, three bedroom property with figures from 2011. lifestyle needs.” retails for $125,000. Standard waterfront properties with water- According to Fred Lobb, broker/ St. Joseph Island & Lake Huron access properties are also available owner of Royal LePage Heartland throughout South Muskoka and have Realty, the average price for a St. Joseph Island and Lake Huron is an average listing price of $175,000. standard waterfront property with a favorite travel destination among land access in the area ranges from tourists. Located in the centre of 12 | | Royal LePage Recreational Property Report | 2012
  • 15. the Great Lakes at the mouth of the St. Mary’s River, the area offers an endless amount of things to do and 59 per cent of intended buyers in see – from its winter carnivals, annual Ontario have delayed purchasing a corn harvest, public beaches and summertime concerts, you’re sure to recreational property due to economic have no problem making memories of a lifetime. uncertainty Inventory levels and prices for recreational properties in the area hook up and winterizing are not Dumas explains that the average have remained stable in comparison often top of mind when buyers are price for a standard waterfront to last year. The average price for searching for their dream cottage.” property with water access ranges a 1,000 sq. ft. seasonal, waterfront from $165,000 to $185,000, while cottage with land access is Thomas agrees that buyers should a standard waterfront property with $140,000, while the average price work with a local REALTOR® who land access ranges from $210,000 for a standard 1,000 sq, ft. in-land knows the area well and can educate to $240,000. Standard in-land cottage is $90,000. A waterfront, you each step of the way. cottages are also very popular water-access cottage carries an among buyers and have an average average listing price of $100,000. Sudbury listing price of $150,000 to $175,000. “Year-round waterfront residences “Waterfront properties located on are also a popular option among The region of Sudbury is a true Lake Wahnapitae, Lake Penage and buyers and fetch prices of $200,000 haven for nature lovers and outdoor the French River are a popular option and above,” explains Carl Thomas, enthusiasts alike. With over 300 among buyers who enjoy fishing and Royal LePage Northern Advantage freshwater lakes and rivers, Sudbury boating,” adds Dumas. broker/owner. is the ideal destination for families and retirees. While recognizing that a recreational According to Thomas, market activity property can provide a good financial is up from 2011 and we are still Alex Dumas, broker, Royal LePage return on investment, many buyers seeing much interest among buyers. North Heritage Realty, states that view their purchase primarily as “A variety of buyers are entering the year-over-year market activity in a lifestyle choice. According to market, including retirees, middle Sudbury has increased slightly. “Our Dumas, buyers are more interested aged couples with older children recreational market has been active in purchasing a property that allows and young families. Typically, these this year with no major changes in them to escape the grind of everyday buyers are looking for a vacation inventory levels,” states Dumas. life and get back in touch with nature. home suitable for four-season use,” said Thomas. Thomas notes that low interest rates are a motivating factor for some buyers. “We are seeing more people enter the market in order to take advantage of attractive rates, while others are mostly driven by their lifestyle needs.” In order to avoid any recreational buying pitfalls, Thomas educates all his buyers on the area and on the responsibilities that come with owning a cottage. “Many buyers are not aware of the financial costs and time required to maintain a recreational property. Things such as taxes, maintenance costs, water 2012 | Royal LePage Recreational Property Report | | 13
  • 16. Manitoba The average price for a standard When asked about the advice she recreational property (waterfront, would offer buyers, Novakoski Lake du Bonnet water access) costs approximately explains that it is important buyers $200,000, while a standard waterfront have their finances in place and From its endless rivers and lakes, land access property goes for an take their time when searching for a solid granite hills and lush forests, average price of $300,000. Inland property. “Be patient and don’t be Lake du Bonnet is one of the most properties offer a more affordable afraid to comparison shop so you desirable recreational property price point for buyers at an average can find your dream property.” areas in Manitoba. Located only listing price of $160,000. one hour from Winnipeg, Lake du Lake Winnipeg Bonnet offers residents an endless There are a variety of buyers who number of activities all year round seek out recreational properties With its shallow waters and pristine including swimming, fishing, golfing, in Lake du Bonnet area, including shorelines, Lake Winnipeg is one snowmobiling and cross country ski young families with children, of the most sought out recreational trails. couples in the 40s and 50s and properties for summer and retirees. Novakoski notes that older wintertime fishing. Only an hour’s “Inventory levels have increased Canadians typically search for drive from Winnipeg, the area from 2011 and we expect this to higher-end waterfront properties that is home to several small towns, remain stable throughout 2012,” said they can enjoy with their families and including Winnipeg Beach and Gimli, Tammy Novakoski, real estate agent one day live in permanently. “Many and attracts a variety of buyers. with Royal LePage Top Producers of these clients view recreational Real Estate. “Buyer activity has been properties as a sound investment. “Market activity is fairly stable with slower than what is usually expected Since it’s a buyer’s market, people levels from last year,” said Jim Muir, for this time of year, creating more of are purchasing now in case prices Sales Representative of Royal LePage a buyer’s market.” rise in the future.” Dynamic Real Estate Winnipeg. “Inventory levels are down slightly, 90 per cent of owners and intended buyers living in Manitoba/ Saskatchewan agree that a cottage is a good long-term investment 14 | | Royal LePage Recreational Property Report | 2012
  • 17. North-East – a tranquil area filled Things such as taxes, maintenance with rich farmland and an array of forests, lakes and beaches. With costs, water hook up & winterizing a population of just under 6,000, Melfort is a growing community are not top of mind when buyers are that offers a variety of recreational properties for buyers. searching for their dream cottage. The average price for a standard waterfront, water access cottage but we expect this number to grow to high-end, million dollar waterfront costs approximately $320,000, while now that the recreational market has cottages.” a standard waterfront, land access officially begun. With a balanced cottage is $290,000. An inland cabin market in place this season, buyers Jadeske notes that standard non- (non-waterfront, land access) has an can certainly find the recreational waterfront, land access cabins average price of $250,000. property of their dreams.” are listed at an average price of $225,000 and standard waterfront, “Market activity is healthy and Year-over-year recreational property land access cabins typically sell for has picked up slightly from this prices in the Lake Winnipeg have around $450,000. time last year,” said Joline Ozeroff, remained stable. Waterfront, land- sales associate with Royal LePage access properties cost an average Buyers in their late 30s to early 50s Hodgins Realty. “Prices and of $300,000 and non-waterfront are the typical buyer, but Jadeske inventory levels have also remained in properties are listed at an average explains that the area’s affordable line with figures from 2011.” price of $125,000. price point is an attractive feature for younger families as well. “We have Ozeroff explains that many buyers in When looking for a property, Muir folks who are entering the market the area are purchasing properties encourages potential buyers to for the first time and some buyers that can also be used as a source understand the differences between who are looking for a recreational of income. “Although the majority of recreational properties and urban- property where they can one day our buyers purchase due to lifestyle, style homes. “Wells and waste issues retire in.” many are becoming more open to like garbage disposal and septic renting out their properties during tanks aren’t necessarily top of mind For those interested in finding a for a few weeks a year to help cover in city centres, and can therefore property in the Christopher Lake extra costs, such as land taxes.” be very easily overlooked when and Candle Lake regions, Jadeske purchasing a recreational property.” offers these words of advice: “Be Couples and families between the sure you are prepared for rural living. ages of 40 and 50 years old are the Saskatchewan Some people who are not use to this typical recreational property buyer in lifestyle can be a little taken aback the Melfort area. Ozeroff notes that Christopher & Candle Lake by the prospect of having a well many buyers are also purchasing and septic tank instead of a sewer properties with family and friends. Whether you enjoy the heat of system.” “This has been quite common over summer or the adventure of winter the past few years. People are sports, northern Saskatchewan’s Despite the remote setting, looking for a property to share with recreational property markets of Jadeske notes that there are many their loved ones and often times, Christopher Lake and Candle Lake businesses and health centres in decide to invest together.” offer Canadians the perfect cabin the area with extended hours – getaway all year round. providing additional peace of mind Ozeroff advises buyers in search of for recreational property users in the a recreational property to become “Many buyers who come to the area. familiar with the area and understand area are looking for a home that everything there is to know about meets their lifestyle needs,” says Hal Melfort recreational living. “In addition to this, Jadeske, real estate agent with Royal be sure you work with a REALTOR® LePage Saskatoon Real Estate. “We Often referred to as the “City of who can help you find a property that have a variety of properties available, Northern Lights”, Melfort is situated meets all your wishes and who can including vacant non-waterfront lots in the heart of Saskatchewan’s great educate you every step of the way.” 2012 | Royal LePage Recreational Property Report | | 15
  • 18. More than one quarter (32%) of intended buyers living in Manitoba/Saskatchewan would move into a smaller, more affordable primary residence in order to purchase their dream recreational property Regina a great selection of waterfront Kerry Towle, associate broker, Royal and inland properties available to LePage Weber. “Low interest rates The recreational properties market of meet any budget. Buyers should and a stable provincial economy southern Saskatchewan is a favorite also be aware of the financial and have driven demand for recreational among young professionals and time commitments associated properties in the area.” established families from surrounding with maintaining a recreational areas and neighbouring cities like home. “Sometimes, buyers let According to Towle, the average Calgary. The area, which is a short, their emotions take charge when buyer in the region is looking to enjoy easy distance from Regina, is home searching for their dream properties their recreational property with their to big-city amenities, winding rivers, and forget about the financial extended family, rather than use their placid lakes and the ever-popular elements involved with maintaining a property to generate rental income. Regina Beach. cabin.” “To increase affordability, we’re Currently, prices for recreational Alberta seeing a trend of families investing properties in the area remain together to get more bang for their stable with figures from last year. Glennifer Lake buck.” The average price of a waterfront property with land-access is Glennifer Lake is one of Alberta’s Pigeon Lake $450,000, while inland properties newest reservoirs and has become average around $175,000. a favorite recreational spot for Pigeon Lake is a popular holiday families and retirees. Located just destination for families. Its location “Market activity is quite slow for this 90 minutes away from both Calgary between Calgary and Edmonton time of year,” says Mike Duggleby, and Edmonton, Glennifer Lake offers makes it ideal for urban buyers broker /owner of Royal LePage vacationers a great escape all year looking for a recreational property Regina Realty. “Severe flooding hit round. close to the city. The area is also several of our recreational towns ideal for single families and Baby in 2011 and as a result, potential Standard waterfront water-access Boomers looking for a summer buyers may be holding out due to properties (3 bedrooms, 1,000 sq. retreat or a retirement home to settle the uncertainty around springtime ft) in the area sell for approximately into. With its easy accessibility and flooding conditions.” $389,900, while standard waterfront full range of recreational activities properties with land access have an and services, Pigeon Lake is full of Duggleby explains that the area average price of $349,900. Inland non-stop fun all year-round. has not experienced any flooding (non-waterfront) properties are also this year. “Flooding in southern available and cost approximately “In 2011, we had an oversupply of Saskatchewan is a reality. Many $250,000. properties available for sale and few buyers who come to the area are buyers,” said Barbara Howey, broker/ aware of this and take the necessary Year -over-year prices have owner of Royal LePage Parkland steps to safeguard their property. decreased slightly in the region, Agencies. “As we move into our 2012 By choosing a smart location and while inventory levels have increased season, we are witnessing a bit of knowing what the high water levels compared to last year. an increase in activity, though supply are, you can easily mitigate the risk.” continues to outweigh demand.” “The current level of activity in the For buyers interested in purchasing Glennifer Lake area is increasing Howey notes that prices in the a recreational property in the area, as economic confidence among Pigeon Lake region have continued Duggleby explains that there is buyers continues to grow,” said to decline in 2012, and seem to 16 | | Royal LePage Recreational Property Report | 2012
  • 19. 49 per cent of future recreational owners living in Alberta would rent out their property to help offset the mortgage and property costs have leveled at approximately 20 can advise you on the type and cost officially underway, we are seeing per cent lower than last year. While of servicing required to maintain your interest from buyers who are looking the region doesn’t feature any island recreational property throughout the for a recreational property they can properties, prices for standard year.” enjoy with their extended families,” waterfront, land access properties explains Towle. range from $450,000 to $650,000, Pine Lake while land-access (non-waterfront) The average price for a standard properties typically sell for $250,000 Situated in a wooded valley just 20 waterfront recreational property to $350,000. minutes southeast of Red Deer and with land access is approximately 90 minutes north of Calgary, Pine $300,000, while a standard “It’s a buyer’s market and those Lake has remained a popular vacation waterfront, water-access property is looking for recreational properties destination for several generations. $349,900. Standard cottages (non- will be able to get a great price,” Swimming, water skiing, boating, waterfront) have an average listing said Howey, adding that executive golfing, hiking and fishing are just a price of $224,900. waterfront properties typically range few of the many recreational activities from $850,000 to $900,000. available in the area. According to Towle, the area is ideal for buyers with an eye for potential. For those interested in purchasing According to Kerry Towle, associate “There are several bare lots available a recreational property, Howey broker, Royal LePage Weber, families for buyers who are interested in cautions buyers to do their research with older children are the most constructing their own recreational before they begin looking. “Be sure active buyers in the marketplace. property,” explains Towle. to work with a local REALTOR® who “Now that our selling season is 2012 | Royal LePage Recreational Property Report | | 17
  • 20. 15 per cent of residents from British Columbia rate ‘eco-friendly’ as an important feature for a recreational home For those interested in purchasing a “100 Mile House remains among “Prices for recreational properties in cottage in the Pine Lake area, Towle the most affordable recreational the area have dropped around 15 to advises buyers to choose a location property in B.C.,” said Melvyn Grahn, 20 per cent over the last five years. that offers the amenities that suit sales representative, Royal LePage Inventory levels are relatively high this your needs and is likely to have good 100 Mile Realty. “Market activity quarter, making it a very attractive resale value. is very healthy this year as eager time for buyers.” buyers continue to enter the market. British Columbia Like last year, many buyers are Grahn notes that prospective buyers purchasing properties due to lifestyle in the area tend to be between the 100 Mile House needs, however, we are seeing many ages of 40 to 65. “Many of these more people purchase because they buyers are looking for a place they Known as the ‘Handcrafted Log view real estate as a sound long-term can enjoy with family and friends Home Capital of North America,’ investment.” and eventually, call their permanent 100 Mile House’s rustic charm is a residence when they retire.” favorite among recreational buyers. Standard water-access properties Located in the South Cariboo region sell for approximately $185,000, Grahn recommends that interested of British Columbia, only four hours while land-access (non-waterfront) buyers align themselves with away from the Greater Vancouver properties sell for an average price a trusted REALTOR® who has Area, 100 Mile House is famous for of $132,600. Standard waterfront extensive local knowledge. “Be sure its beautiful lakes, plentiful outdoor properties carry the highest price to communicate your needs so your activities and unique history. tag and have an average price of agent can make recommendations $261,200. and help you find the right property.” 18 | | Royal LePage Recreational Property Report | 2012
  • 21. Cranbrook Located on the west side of 63 per cent of intended buyers in Kootenay River, Cranbrook is the British Columbia have delayed largest urban centre in the East Kootenay region. Known for having purchasing a recreational property the most sunshine hours in all of British Columbia, Cranbrook due to economic uncertainty provides residents with spectacular waterfront views and is an outdoor haven for sporting enthusiasts. are now exploring other options Despite the high prices, Gray has a north of the border. “The best advice clear message to people considering Prices for standard waterfront for those looking to buy here is to purchasing property in the area. properties in the area sell for take advantage of the current market “Whether you’re looking to get into an average price of $500,000, and find a property that fits their the market for recreational purposes, while standard land access (non- lifestyle.” as an investment, or both, now is an waterfront) properties are available at excellent time to buy, especially since around $300,000. Kelowna interest rates remain very low.” “Currently, our market is Cradled in the Okanagan Valley, Sunshine Coast experiencing a slowdown,” said the community of Kelowna offers Philip Jones, broker /owner, Royal tourists and residents a recreational Sunshine Coast is one of the LePage East Kootenay Realty. “We lakeside paradise that’s filled with province’s most affordable options expect this downturn to pick up in breathtaking views and mountain for owning waterfront recreational the next few months, especially now scenery. Whether you’re planning a property. Located just 40 minutes that the province of British Columbia holiday or looking for a recreational away from Vancouver by ferry, the has announced changes in HST property to call home, Kelowna area has plenty of outdoor activities, regulations – as of April 1, 2012, offers superb amenities. festivals and events all year long. buyers may now be eligible for a provincial grant for sales of certain First time buyers are the most active A standard waterfront cottage with recreational properties.” market segment, but Kelowna also water access on the Sunshine Coast attracts young families, middle costs approximately $550,000, Jones notes that inventory levels are aged couples and retirees from while a non-waterfront property with stable with figures from last year, but British Columbia and surrounding land access costs approximately certain properties are harder to come provinces. Many buyers who $325,000 to $400,000. Waterfront, by. “Buyers can expect to pay more purchase in the area see real estate land-access properties average for an executive waterfront property as a sound investment while a small $800,000. in certain areas. Average prices for fraction enter the marketplace purely these properties can be as high as for investment purposes. “Sunshine Coast real estate prices $1 million,” explains Jones. are on par with figures from last “Market activity is fairly similar to year,” says Joel O’Reilly, real estate The Cranbrook area is home to a levels from last year,” notes Steve agent with Royal LePage Sunshine variety of buyers, including young Gray, Managing Broker of Royal Coast. “Inventory levels are about families, couples and retirees. “A LePage Kelowna. “Inventory levels the same as last year and will likely large number of buyers are from are very healthy and reflect levels remain stable throughout 2012.” Alberta or Saskatchewan and are from 2011. Prices have also remained looking for a recreational property stable over the past year.” O’Reilly notes that there is more that is an easy commute from confidence in the marketplace this Calgary or Edmonton,” Jones added. Non-waterfront condominiums carry year, so many of those who have put an average listing price of $210,000 off the idea of owning a recreational A common trend among buyers is to to $230,000, while waterfront resort property are now making the move. invest in properties with families and properties start at approximately “Our stable pricing represents an friends. Jones also notes that many $400,000 and may fetch as much as incredible buying opportunity. We’ve buyers, who originally searched for $1.3 million. had a busy few months and if this recreational properties in the U.S., spring is any indication this year 2012 | Royal LePage Recreational Property Report | | 19
  • 22. should surpass 2011 as far as sales numerous cycling and hiking trails, activity.” Vernon is an attractive destination for both residents and tourists alike. We are seeing Families and couples between the some buyers ages of 40 and 60 and retirees still “A large percentage of Vernon’s dominate the marketplace. “We recreational property market is made purchase have a variety of properties available up of buyers from neighbouring to meet the needs and budget of regions, including Alberta, where properties with any buyer. Everything from small cottages in the woods to million approximately 14 per cent of our buyers come from,” says Riley family and dollar waterfront properties are available.” Twyford, Broker/Owner, Royal LePage Downtown Realty in Vernon. friends to help “Currently, prices and market activity offset costs. O’Reilly explains that the Sunshine have dropped off slightly when Coast has undergone many compared to figures from last year. In changes in recent months, including 2012, we’ve seen less interest from improvements to the local airport and Alberta buyers, and as a result, we property,” explains Twyford. “The full-service hospital, which add to expect inventory levels to increase area has also seen several fractional the area’s desirability. “This is a very throughout the rest of 2012 creating properties being constructed, which exciting time for the Sunshine Coast more of a buyer’s market.” is another option for buyers looking as we have experienced significant to enter the recreational property growth over the past year.” The average price for an inland market but at a lower price point.” property in the Mara Lake, Silver Vernon Star Mountain Resort and Predator For those interested in purchasing Ridge Resort areas is approximately a recreational property in Nestled in the grassland hills of the $400,000. Vernon, Twyford recommends Okanagan Valley, Vernon is home that prospective buyers do their to hundreds of small fishing lakes, “Similar to last year, we are seeing homework. “Understand the costs of world renowned golf courses and the some buyers purchase properties ownership and make sure you find famous Silver Star Mountain Resort. with family and friends to help a property that suits your lifestyle With its city-like amenities and offset the costs of owning another needs.” 20 | | Royal LePage Recreational Property Report | 2012
  • 23. For further information, Memphrémagog Kawartha Lakes please contact: Christian Longpré Linda Duncan Sarah Louise Gardiner 819.868.5000 705.887.1010 Account Director Christian@longprelamirande.com lduncan@nexicom.net Fleishman-Hillard Royal LePage Au Sommet Royal LePage Kawartha Lakes 416.644.2907 www.longprelamirande.com Realty Sarah.gardiner@fleishman.ca http://www.lindaduncan.ca/ Mont-Tremblant Tammy Gilmer Kingston/Ganonoque Director, Public Relations and Paul Dalbec National Communications 819.425.3777 Wayne Carrothers Royal LePage Real Estate Services pauldalbec@royallepage.ca 613.384.1200 416.510.5783 Royal LePage Mont-Tremblant wayjo@sympatico.ca tglimer@royallepage.ca www.royallepagetremblant.com Royal LePage ProAlliance Realty www.wayneandjoe.com Regional Spokespersons Lanaudière Land O’ Lakes New Brunswick Guylaine Pelletier 450.831.8484 Chris Winney Carla Bouchard guylainepelletier@royallepage.ca Chriswinney1@aol.com 506.857.0555 Royal LePage Harmonie Royal LePage ProAlliance Realty cbouchard@royallepage.ca http://agents.royallepage.ca/ http://www.landolakesproperty.com/ Royal LePage Metro harmonie www.monctonroyallepage.com Meaford, Thornbury and Collingwood Ontario Newfoundland Desmond von Teichman Bruce Peninsula 519.538.5755 Glenn Larkin teichman@royallepage.ca 709.685.2502 Paul Annett Royal LePage Locations North glennlarkin@royallepage.ca 519.793.3544 www.locationsnorth.com Royal LePage Professionals 2000 pannett@bmts.com www.royallepage.ca/glennlarkin Royal LePage RCR Realty Muskoka www.royallepage.ca/paulannett Prince Edward Island Don Evans East Kawarthas 705.765.6855 Ken Peters dgevans@muskoka.com 902.892.5355 Bruce Switzer Royal LePage Lakes of Muskoka kenpeters@royallepage.ca 705.748.4056 http://www.muskokalakesrealestate. Royal LePage Peters & Lank Realty bswitzer@bellnet.ca com/ www.lank.com Royal LePage Frank Real Estate www.durhamresidential.com/ Parry Sound Québec Haliburton Highlands Bill Kingshott Eastern Townships 705.746.5844 Anthony vanLieshout billkingshott@royallepage.ca Robert Charbonneau 705.457.2414 Royal LePage Team Advantage 450.266.7711 anthony@royallepage.ca Realty rcharbonneau@royallepage.ca Royal LePage Lakes of Haliburton www.royallepage.ca/teamadvantage Royal LePage Action Courtier www.trilliumteam.ca www.royallepageaction.ca 2012 | Royal LePage Recreational Property Report | | 21
  • 24. Rideau Lake Lake Winnipeg British Columbia Pauline Aunger Jim Muir 100 Mile House 613.283.6666 204.989.5000 paulineaunger@royallepage.ca JimMuir@royallepage.ca Melvyn Grahn Royal LePage Pauline Aunger Real Royal LePage Dynamic Real Estate 250.395.3424 Estate www.jimmuir.ca mel@melgrahn.com Royal LePage 100 Mile Realty South Muskoka Saskatchewan www.melgrahn.com Stewart McNeely Christopher & Candle Lake Cranbrook 705.327.9999 stewartmcneely@royallepage.ca Hal Jadeske Philip Jones Royal LePage Real Quest Realty Ltd. 306.242.3535 250.426.8211 http://www.royallepagerealquest.ca/ haljadeske@royallepage.ca philip@ekrealty.com Royal LePage Saskatoon Real Estate Royal LePage East Kootenay Realty Southwestern Ontario www.lakelandresortrealestate.ca www.ekrealty.com Fred Lobb Melfort Kelowna 519.482.3400 fredlobb@royallepage.ca Joline Ozeroff Steve Gray Royal LePage Heartland Realty 306.921.4095 250.860.1100 www.rlpheartland.ca jolineozeroff@royallepage.ca steve@kelowna.royallepage.ca Royal LePage Hodgins Realty Royal LePage Kelowna St. Joseph Island & Lake Huron http://agents.royallepage.ca/melfort www.royallepagekelowna.com Carl Thomas Regina Sunshine Coast 705.942.6000 carlthomas@royallepage.ca Mike Duggleby Bill Binnie Royal LePage Northern Advantage 306.359.1900 604.926.6011 http://www.royallepagesault.ca/ mikeduggleby@royallepage.ca billbinnie@royallepage.ca indexa.htm Royal LePage Regina Realty Royal LePage Sunshine Coast www.royallepageregina.com Sudbury Vernon Alberta Alex Dumas Riley Twyford, Broker/Owner 705.688.0007 Glennifer Lake & Pine Lake 250.545.5371 AlexDumas@royallepage.ca riley@royallepagevernon.com Royal LePage North Heritage Realty Barbara Howey Royal LePage Downtown Realty www.royallepage.ca/sudbury Kerry Towle www.royallepagevernon.com 403.302.8496 Manitoba kerrytowle@royallepage.ca Royal LePage Weber Lac du Bonnet http://agents.royallepage.ca/ kerrytowle Tammy Novakoski 204.989.6900 Pigeon Lake tammysells@mts.net Royal LePage Top Producers Barbara Howey Real Estate 780.352.6671 http://agents.royallepage.ca/ barbarahowey@royallepage.ca GlennPonomarenko/216366 Royal LePage Parkland Agencies http://agents.royallepage.ca/ barbarahowey 22 | | Royal LePage Recreational Property Report | 2012