A perfect storm of low inventory and high demand will cause recreational home prices to increase by 15% in 2021, to an average price of $291,993. Waterfront property and condominium prices are also forecasted to increase.
The price increases for this year follow a 2020 market that saw huge increases across all types of recreational properties, with an 18.8-percent increase for houses, a 23.6-percent increase in waterfront properties, and a 19.3-percent increase in condominiums.
"Demand remains excessively strong in Quebec’s recreational markets," said Éric Léger, a Royal LePage real estate broker.
"Compared to last year, buyers must budget approximately 20 percent more to get their hands on a well-located and maintained property."