Recreational property sales higher in majority of markets, RE/MAX says

By The Canadian Press

MISSISSAUGA, Ont. - Lower prices, increased selection and a rebound in consumer confidence have helped drive sales of recreational properties higher in a majority of communities reviewed across the country, real estate firm RE/MAX says.

RE/MAX said of the 33 markets included in its report, sales were ahead of last year's mark in 70 per cent of the communities, while six per cent were in line with a year ago.

Starting prices were down in 49 per cent of the markets, while 33 per cent were unchanged.
The remaining saw an increase.

"Recovery is still in its early stages, but there are subtle differences on the recreational property front this year," said Michael Polzler, RE/MAX's executive vice-president for the Ontario-Atlantic region.
"The gains are more widespread, affecting more markets and regions. Affordability has provided some serious stimulus, but renewed consumer confidence is the true driver.

"Buyers will simply not move forward if any doubts exist — economic or otherwise."

RE/MAX noted that sales among baby boomers have softened, compared with previous years as low prices in the southern U.S. have drawn away some buyers.

However, the firm noted that younger families and first-time buyers have stepped in to fill the void in most markets.