Five out of six B.C. markets for recreational properties have seen an upswing in demand and sales compared with last year, according to the Re/Max Recreational Property Report released June 26.
The report noted that sales for cottages, cabins, chalets, resorts and second homes increased in areas such as:
- Salt Spring Island;
- Whistler;
- Ucluelet/Tofino;
- Okanagan Valley; and
- North Okanagan.
The Comox Valley/Mount Washington region was the only one where demand fell.
Low prices are largely responsible for the sales spike.
“Values remain off the peak in virtually all centres – a major impetus for those making their moves,” the report noted.
“On a year-over-year basis, starting prices have held firm or risen in nearly all recreational areas, with the exception of Salt Spring Island and Tofino, where buyers actually benefitted from greater levels of affordability.”
North Okanagan waterfront is the most expensive property class given that the starting price for a three-bedroom, winterized recreational property on a standard-sized waterfront lot is about $900,000.
The report states that prices for Whistler mountain chalets that have three bedrooms and are on standard-sized lots tend to start at about $700,000.
