Royal LePage survey predicts double\u002Ddigit price increases for recreational homes
Good Morning!Royal LePage, the real estate brokerage firm, predicts the national aggregate price for a home away for home will rise 13 per cent in 2022 from last year, to $647,710 for a single family unit, as demand continues to outstrip supply.
According to the survey, 84 per cent said there are fewer properties for sale than last year. Further, 50 per cent said there was “significantly” fewer units on the market.Article content In Ontario in 2021, the family recreational property market rose 34.6 per cent, the highest year-over-year aggregate price increase, according to Royal LePage.Prices, on an aggregate basis, are expected to increase 15 per cent to $272,550 for a single family home compared with a 2021 year-over-year increase of 24.1 per cent. In 2021, the price of coveted family waterfront properties rose 39.3 per cent to $333,000.
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