According to the RE/MAX Canada 2024 Cottage Trends Report, despite the affordability challenges and higher interest rates that characterized the 2023 real estate market, Canada’s cottage owners are choosing to hold on to their properties in 2024 rather than selling off – a trend that’s likely influenced by the desirable quality of life alongside the prospect of future returns on recreational property ownership.

Report Trends

  • Recreational property prices expected to rise 6.8% in 2024.
  • 64 per cent of Canadian cottage owners have decided not to sell this year.
  • When it comes to a recreational property purchase, half of Canadians prioritize affordability (46 per cent, up from 43 per cent in 2023), followed by proximity to water (35 per cent), and necessary amenities (27 per cent).

Regional Market Insights

Overarching regional trends pinpointed by the RE/MAX network include: Families and couples are the primary drivers of activity in the recreational property market – 82% and 68% respectively, and 54.5% of regions in Western and Atlantic Canada have experienced increased inter-provincial migration activity, while Ontario witnessed increased intra-provincial migration activity.

Share the Report Findings

Help keep your clients and network informed on the latest Canadian recreational market trends by leveraging the report findings on your social channels. Start by downloading and posting the regional and national social assets to your channels or by directly sharing the report on Facebook, Instagram and LinkedIn.

See the Report in Action

  • National Post: Cottage prices expected to rise with owners in no rush to sell: RE/MAX
  • Watch this CP24 video of Christopher Alexander, President of RE/MAX Canada, sharing the report findings.
  • Real Estate Magazine: Canada’s 2024 recreational property market holds steady amid demographic shifts and policy influences: RE/MAX