Projections for winter vacation real estate are looking better than ever in Ontario

Real estate conditions in Ontario winter destinations are due for a thaw, as recent reports signal an upcoming boom.

According to a report by national real estate experts at Wahi, predictions have been made pointing to increases in single-family home costs across traditionally known winter retreats.

Data collected from Royal LePage on behalf of Wahi notes that the median price for Canadian winter vacation properties is anticipated to reach $1,019,960 next year, signaling a seven per cent price increase. 

For Ontario specifically, projections are even more favorable as in the Southern Georgian Bay area (Collingwood, Meaford, and Thornbury) the median price of single-family homes is expected to hit $938,300 next year, an increase of 10 per cent compared to past metrics. 

“Looking ahead, we foresee more homebuyers moving off the sidelines as lending rates continue to ease, resulting in a steady increase to recreational prices,” said Desmond von Teichman, a Royal LePage broker referenced in Wahi’s report. 

As for other regions in Canada, the following areas have also seen favorable movement in go-to winter destinations.

• British Columbia: The median winter vacation price projection is $1,876,182 — roughly an eight per cent increase.
• Quebec: The current median winter vacation price projection is $552,578 — marking a six per cent increase.
• Alberta: The current median winter vacation price projection is $1,728,450 — roughly a three per cent increase.

For more information on winter real estate projections in Ontario and Canada, visit Wahi’s official website.