Cottage country supply squeeze set to lift recreational home prices in 2026

Price growth varied by region and property type in 2025. The weighted median price of a single-family recreational home climbed 4.3% year over year to $581,300. Waterfront properties saw softer performance, declining 5.2% to $717,600, while the median price of a standard condominium edged up 2.1% to $418,600.

Single-family homes in Atlantic Canada recorded the strongest annual appreciation at 11.8%. Looking ahead, Manitoba and Saskatchewan are forecast to lead gains in 2026, with projected increases of 5.5%.

“Several years have now passed since the gold-rush pandemic era that saw recreational property prices rise at a record pace. Today, the market has moderated, with low single-digit price appreciation becoming the norm in most regions,” said Soper. “While sales and prices among waterfront properties softened modestly in Ontario and BC, this category of land is structurally limited, and the number of homes that can be built along these shorelines is finite. This inherent scarcity continues to support property prices in this segment.”

Survey findings suggest demand has largely stabilized. More than half (52%) of recreational real estate professionals reported buyer interest was similar to last year, while 26% observed a decline. At the same time, 61% said average days on market have lengthened. Nearly half (48%) indicated inventory levels were unchanged, with 28% citing tighter supply.

“Like the urban residential market, it’s important not to paint the recreational housing sector with a broad brush. While there has been some softening of buying activity in recreational property markets, conditions vary from coast to coast,” said Soper. “Some markets, particularly in Atlantic Canada and Alberta, have seen stronger demand and renewed activity, while others, including in parts of Ontario, have experienced more moderate price appreciation.