This year's report shows that national recreational property sales and listings have rebounded from a slow start caused by the late spring and cold winter experienced in many markets throughout the country. Across Canada the recreational property market is showing healthy activity that should lead to modest increases in sales and prices in most markets through the rest of the year.
Two groups of buyers are driving the majority of recreational properties sales in Canada. The first is made up of families with younger children. The second group is made up of near or recent retirees.
The way buyers are using their recreational properties is changing. In the past, properties were largely used for weekend getaways or summer vacationing. Today many are purchasing a property from which they can work throughout the summer. Furthermore, many people see their property as a four-season vacation option, rather than just a summer retreat.
Click here to read the full report > RE/MAX - Recreational Property Report 2014
In this report you will find market activity summaries for 41 regions right across the country, including Northern Ontario, Lake Huron, Georgian Bay, Lake Simcoe, Muskoka/Haliburton, Kawartha Lakes and Eastern Ontario.
While some potential recreational buyers may have been discouraged by the Canada Mortgage and Housing Corporation's recent decision to eliminate insurance on second mortgages, there is little to no material impact expected from this change. There are many options available for financing and insuring mortgages on a second property. I can help you to find the option that best meets your specific needs. Contact me today!
Re/Max Rouge River Realty Ltd., Brokerage
905-668-1800 or 905-427-1400