In­ter­est in recre­ation prop­erty own­er­ship on the rise

Calgary Sun - Homes - - Homes - Myke Thomas CALGARYSUN

In a coun­try where it’s win­ter six months a year, it’s lit­tle sur­prise Cana­di­ans hold win­ter get­away homes dear, and Royal LePage says in­ter­est is grow­ing.

“Canada boasts the world’s most spec­tac­u­lar win­ter ex­pe­ri­ences. Across our vast land are recre­ational re­gions that of­fer ad­ven­ture, op­por­tu­ni­ties for cre­at­ing price­less fam­ily me­mories and a sim­ple refuge from the hus­tle and bus­tle of city life,” says Phil Soper, pres­i­dent and CEO, Royal LePage, in a new recre­ation prop­er­ties re­port. “The num­ber of buy­ers shop­ping for a four-sea­son recre­ational prop­erty is again on the rise, and prop­erty val­ues are ris­ing as a re­sult. This is par­tic­u­larly true in the moun­tain­side con­do­minium mar­ket as more and more in­vestors seek the con­ve­nience of lock-and-leave liv­ing.”

In the Cal­gary area, Can­more is one of the most pop­u­lar desti­na­tions. The me­dian price for a de­tached home dipped slightly by 1.1 per­cent year over year to $918,500, how­ever, the me­dian price for a con­do­minium surged 9.6 per­cent year over year to $472,000.

“We’ve seen more sales ac­tiv­ity in the en­try-level mar­ket this year,” says Brad Hawker, bro­ker and owner, Royal LePage Rocky Moun­tain Realty. “While most buy­ers in Can­more are from Canada, we’ve seen a slight in­crease in in­ter­na­tional de­mand from the United States and main­land China.”

Mean­while, just over the rocks in In­ver­mere, sales ac­tiv­ity has stayed rel­a­tively sta­ble while the me­dian price of a de­tached home has de­creased year over year to $401,250, in­creas­ing af­ford­abil­ity in the re­gion.

“Recre­ational prop­er­ties in In­ver­mere re­main af­ford­able and we are see­ing an in­crease of sales in lower-priced prop­er­ties,” said Barry Ben­son, bro­ker and owner, Royal LePage Rock­ies West. “With our prox­im­ity to Al­berta, if we see eco­nomic gains there, it will likely spur con­sumer con­fi­dence among prospec­tive buy­ers and in­crease sales ac­tiv­ity as we move into 2019.”

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