The COVID-19 pandemic has helped drive sales of recreational properties in Alberta, according to realtors and recent reports.
“There’s definitely a high interest in cottage communities,” realtor Moe Jarrah told Global News on Tuesday.
“Definitely the pandemic changed the way we live and work, for sure.”
Jarrah, a Calgary and area realtor with Century 21 Bravo Realty, said the interest is not just from local buyers but from those across the province and country as demand outpaces supply and prices keep many away in regions across Canada.
“A lot of the ones from outside of Alberta are from Ontario and B.C. where obviously prices have spiked there,” he added.
According to recent reports, prices will spike in Alberta as well. The Royal LePage Canadian Recreation Property Report 2021 expected the aggregate price of a house in Alberta’s recreational regions to rise six per cent this year to $942,881.
Meanwhile, the 2021 RE/MAX Recreational Property Report noted prices in Canmore skyrocketed 26 per cent since 2019. It further anticipated prices for a non-waterfront property would rise to $1.6 million for the rest of 2021.
Mike and Lisa Heier recently got into the recreational housing market, buying a property about 30 minutes west of Calgary last summer.
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The Heiers, who wanted to downsize, are now living at their recreational home full-time.
“Being out of the hustle and bustle of Calgary is important to us,” Mike said.
“Now we’re out here, and the stress just fades away.”
“I think COVID was a real game-changer for a lot of people as well,” Lisa said. “You realize what’s important in your life. It’s family and it’s the environment.”
The Heiers said they found that perfect mix at CottageClub Ghost Lake.
The popular lakeside community is launching its fifth and final phase early this summer. Officials say already this year, they have sold 37 new home sites. They said any resales rarely last more than seven days on the market. The average price of a home at CottageClub is $450,000.
The Heiers told Global News they can understand the big draw aside from the price.
“Our grandchildren come out here and they love it,” Lisa said. “There’s a swimming pool. There are tennis courts. There’s just so much to do out here.”
“Step into the backyard, you’ve got this great mountain view,” Mike agreed. “You can see the lake. We’re pretty happy with it.”
Jarrah said while recreational properties used to be thought of as “just for the wealthy,” it’s not like that anymore.
He expected more and more Albertans not only to get a vacation property but perhaps also live there year-round.
“We’re seeing about 30 to 40 per cent of the homeowners are year-round living (at the CottageClub),” Jarrah said.
“For some people, a recreational property is no longer a luxury but a necessity.”
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