Anyone hoping to purchase in cottage country this year can expect to face growing prices as buyer demand continues to outstrip available home supply.

New market projections released by Royal LePage forecast that the aggregate price of a single-family home in Canada’s recreational regions will rise 13 per cent in 2022 to $640,710 as demand outperforms supply.

However, prices aren’t expected to rise as much as they did last year. In 2021, the aggregate price of a recreational single-family home in Canada grew 26.6 per cent annually to $567,000. During the same time period, the aggregate price of a single-family waterfront property jumped 21.5 per cent from 2020 to $976,000, while prices for recreational condos were up 15.4 per cent yearly to $374,000.

Read More: https://www.livabl.com/2022/04/recreational-home-rise-2022.html