BUSINESS

BC Real Estate: Recreational Property Sales To Rise, Says Report

06/25/2013 03:10 EDT | Updated 08/25/2013 05:12 EDT
Getty
EMERALD LAKE, BRITISH COLUMBIA, CANADA
KELOWNA, B.C. - Recreational home sales are expected to increase this year on stagnant or lower prices and good selection, according to a report by real estate firm RE/MAX.

The company said Tuesday that starting prices are down or unchanged in 77 per cent of the 31 Canadian markets surveyed outside Quebec.

It expects sales will at least match last year's level in almost 70 per cent of the centres.

The RE/MAX recreational property report said "softer values" and better selection in recent months is prompting a rebound in sales activity in many markets.

Other factors include growing confidence in the overall economy and increased foreign and out-of-province investment.

Recreational property sales in seven of 10 markets in Western Canada are on par or ahead of last year's levels.

The report said the $250,000 to $500,000 segment is the strongest.

RE/MAX said sales of cottages along with ski and resort properties across the country are increasing as the allure of the U.S. is dissipating.

Ontario-Atlantic Canada regional director Gurinder Sandhu said that after five soft years, there is a slow but consistent improvement.

"Given the steady momentum of today's market, there are indications that 2013 could emerge as the turning point," he said in a news release.

Also on HuffPost

Amazing Waterfront Homes In BC