For 2025, Royal LePage® expects a 7.5% increase in the price of single-family homes in this market segment
Should you be in a hurry to buy a recreational property while interest rates are on a downslide? Will political tensions between Canada and the United States dampen market momentum? And, will Quebec snowbirds, increasingly wary of the U.S. political climate, return to invest in property at home? These are just some of the questions consumers are asking around as the Quebec second-home market shows unexpected strength.
According to Royal LePage’s latest Recreational Property Spring Report, which examines 17 markets in Quebec, prices in the province’s resort regions are continuing their ascent, despite the prevailing economic uncertainty.
Quebec comes out on top
Far from running out of steam, the craze for cottages and resort real estate seems to have taken root in Quebec. According to data compiled by Royal LePage, the weighted median price1 of a single-family property in the province’s recreational regions climbed 7.6% year-over-year in 2024, reaching $425,300. Waterfront properties followed with a 6.4% increase, while condominiums gained 3.7% over 2023.
“The real estate market in Quebec’s recreational regions saw a solid recovery in 2024, and the first few months of 2025 show demand is continuing to rise,” said Dominic St-Pierre, senior vice-president of business development, Royal LePage. “Inventory is limited, new construction for recreational homes is quite rare, interest rates continue to decline and experienced buyers have the ability, thanks to their robust equity, to aspire to purchase more expensive properties.”
Demand driven by interest rates, and a touch of insecurity
The return of lower mortgage rates seems to have rekindled buyers’ interest in cottages and recreational areas. According to a survey of Royal LePage recreational experts in Quebec,2 no less than 70% of the experts noted an increase in demand linked to this lower cost of borrowing in 2024, compared to the previous year.
“We have the perfect ingredients for a scenario of continued price gains and strong competition,” said St-Pierre. “In a context where the appeal of recreational areas is not waning, competition between buyers is intensifying in several desirable regions. For sellers, however, this does not guarantee an easy sale: in such a nuanced market, proper price positioning remains essential to attract serious offers. More than ever, using a broker who specializes in recreational properties allows you to accurately navigate local specifics – zoning, access to bodies of water, easements, alternative financing and many other factors.”
Quebec recreational markets resilient to trade tensions so far, unlike some other Canadian provinces
It’s also interesting to note that political tensions, particularly in relation to the tariff war between Canada and the U.S., have not dampened the spirits of Quebec buyers in the recreational property segment. While other provinces such as Ontario and Alberta are experiencing a slowdown in demand, Quebec’s recreational markets are proving remarkably resilient. Nationally, the price of a single-family recreational home rose by just 2.3% year-on-year to $627,700.
When asked, a majority of brokers specializing in the province’s recreational markets (67%) said they expected the issue of tariffs imposed by the United States on Canadian products, and Canada’s response, to have a moderate impact on real estate activity in their region. However, almost one in five respondents (18%) anticipate a significant impact on the recreational market, while 9% believe that this situation will have no impact on real estate activity in their region.
“Urban property markets are normally more sensitive to economic fluctuations and political uncertainty,” pointed out St-Pierre. “It is still difficult to measure precisely the extent of the impact of the current tariff dispute, but so far, Quebec’s recreational property markets appear to be quite resilient.” He added that certain changes in behaviour could also favour local demand: “Faced with the Trump administration’s controversial decisions, it is likely that some Quebec snowbirds will abandon their second homes in sunny American states and turn to our local recreational markets instead. This could increase competition and further stimulate demand for this property type in Quebec.”
Forecast for 2025: Growth expected early in the year, driven by continued favourable conditions
Royal LePage forecasts that the median price of a single-family home in Quebec’s recreational regions will increase 7.5% in 2025, compared to 2024, to reach $457,198.3 This forecast is based in particular on the expectation that the downward trend of interest rates will continue to support demand, as 79% of Royal LePage recreational experts in the province believe will be the case. Already, since the beginning of the year, buyers seem to be rushing in before more economic uncertainty hampers their purchasing power. However, most of this growth is likely to occur in the first half of the year, as buyers look to take advantage of a still-favorable environment.
