Alberta Recreational Property Market Booms

0:00A new report from Royal Appage forecast a 2.5% rise in recreational property values across Alberta this year. Last year, the median price for these homes sat at $860,000, showing steady growth in the market. Demand remains strong near Banff National Park, where buyers continue to snap up properties without much slowdown. This interest comes from a mix of folks seeking mountain getaways right here in Canada. Buyers fall into a few main groups, including retirees drawn to the area's lifestyle, families wanting spots for teenagers to build lasting memories, and investors eyeing short term rentals to offset costs. The report also highlights the buy Canadian trend boosting local sales as many Canadians sell off their US vacation homes and shift funds back home. A mid-changing preferences, with these shifts underway, Alberta's recreational market looks set for another solid year of appreciation and activity. I'm Corey with the story, and you've been listening to Vancouver News today.