RE/MAX reports that vacation home values ​​have fallen between 5% and 28.7% in the first few months of the year.

In the Muskoka region, vacation home values ​​have fallen 5%, blogT.o reports.
The biggest declines were seen in the Southeast Georgian Bay, Honey Harbour and Port Severn regions. The average vacation home price fell below $1 million to $906,967. That's less than the average GTA home price of $1,121,615.

On the other hand, prices in Peterborough and Kawartha have risen 93.1% over the same period. Of all the areas assessed in the province, 54% of areas saw prices decline between Q1 2023 and Q1 2024.

RE/MAX predicts that country home sales across the country will grow between 3% and 50% this year, with sales prices rising.

"RE/MAX agents in Ontario expect country home prices to increase by 33% by the end of 2024. The exception is Simcoe, where prices are expected to remain flat," the report says.

RE/MAX predicts that Canada's country home prices will increase by 6.8%, with the most sought-after properties being waterfront lots, lots with plenty of land and green space, and amenities like good Wi-Fi access.

Yuri B