Thinking about buying a cabin? Prepare to shell out
Average price of recreational property in Sask. was about $297K in May
It's officially summer and that means people are thinking about spending time at the cabin — but if you don't already own a cottage, and want to buy one, prepare to shell out.
According to the 2017 Royal LePage Canadian Recreational Housing report released on Tuesday, the average price in May of a recreational property in Saskatchewan was $297,200.
The report noted that the further north the property was — namely the Christopher Lake, Emma Lake or Candle Lake regions — there was a price increase to about $600,000 for a lakefront cabin.
There were, however, some relatively affordable properties within a two-hour driving distance from Regina where the average price of a non-waterfront cabin was about $130,000.
"Those currently purchasing a recreational property... are making out like bandits," said Matt Miller, real estate broker for Royal LePage, in a news release. "They are able to take advantage of currently low prices and find significant value in some of Saskatchewan's most prolific markets."
Meanwhile, in Manitoba, prices were somewhat lower, sitting at about $238,600 for a recreational home.
Saskatchewan's other neighbouring province, Alberta, topped the list with the highest provincial aggregate price in the country at $816,700.
The report concluded that sales of cabins in Saskatchewan have been more or less flat in the past year, due to a weak economy.