The Royal LePage 2023 Spring Recreational Property Report includes national and regional price data and insights from experts in 50 recreational real estate markets across the country.

Key highlights from the release include:

• The aggregate price of a single-family home in Canada’s recreational property market increased 11.7% year-over-year to $619,900 in 2022
• Nationally, the aggregate price of a single-family waterfront and condominium property increased 9.5% and 16.6% year-over-year, respectively, in 2022
• Condominiums in Quebec’s recreational property market recorded the highest provincial year-over-year aggregate price appreciation in 2022, rising 22.3%
• The aggregate price of a single-family home in Canada’s recreational regions is forecast to decrease 4.5% in 2023 to $592,005, compared to 2022
• Alberta is the only provincial recreational market expected to see price appreciation in 2023 (+0.5%)
• Quebec and Ontario expected to see the largest recreational property price decreases in 2023, with forecasted declines of 8% and 5%, respectively, compared to 2022
• More than half (57%) of recreational property experts across the country reported lower inventory than last year in their respective regions, and 65% reported reduced inventory compared to typical pre-pandemic levels