Sales of recreational product up in 70 per cent of Canadian markets examined
Yesterday, the folks at RE/MAX Ontario-Atlantic released a report about the Canadian recreational property market saying it has been reinvigorated, with softer values, increased selection, and a rebound in consumer confidence contributing to an upswing in sales in 2012.
The RE/MAX Recreational Property Report, highlighting trends and developments in 33 markets nationally, found that sales were ahead of last year’s levels in 70 per cent of communities examined, while six per cent were on par with 2011 figures. Greater affordability has been a major impetus, in large part due to rising inventory levels and low interest rates. Downward trending in starting prices was reported in 49 per cent of markets, while 33 per cent experienced no change. Nineteen per cent posted an uptick in starting values year-over-year.
You can find the full report here. Details of our South Georgian Bay market can be found on pages 8 to 10.