Price Growth Expected in British Columbia Recreational Market

Average price in the British Columbia recreational market is expected to rise by 1.1 per cent in 2025, according to RE/MAX’s 2025 Cottage Trends Report. Balanced market conditions prevail with healthy demand from buyers, according to REMAX brokers and agents. Whistler is the exception, experiencing varied market conditions based on the price segment and limited inventory.

Families, Millennials and Generation X couples, as well as investment buyers are driving current demand for the province’s recreation destinations, hailing mostly from the Greater Vancouver, Vancouver Island, and lower mainland. Penticton remains a top retirement destination for local communities looking for a quieter yet close knit community. North Okanagan has buyers from Alberta, but locals primarily make-up the bulk of the buyer demographic. With lower interest rates and stock market volatility, buyers looking for a Canadian retreat with long-term investment uptick, focusing on properties at the lower end of the market. Buyers are still cautious, but real estate in the region is still seen as a safe investment.

Average price in the British Columbia recreational market has already begun to increase over the last year, as buyers continue to see British Columbia as a top recreational destination in Canada. In British Columbia, average recreational prices will rise by 1.1 per cent, remain stable in Tofino/Ucluelet despite low inventory and growing demand ahead of the summer months, while North Okanagan is expecting an increase of three per cent as inventory tightens. Penticton and Summerland both expect to see average price increases of three per cent with interest from local families and foreign buyers looking to move north of the border to South Okanagan.

Buyers in the British Columbia recreational market are no strangers to co-ownership, with parents and family members commonly assisting or looking for a multi-generational property the whole family can share. In Tofino/Ucluelet and North Okanagan, Gen X families and retirees are considering properties that can be passed to future generations. With the ongoing wealth transfer underway, this trend is expected to continue in British Columbia.

Despite short-term rental restrictions that have gone into effect across the province, nightly rentals are still common in Whistler and Tofino/Ucluelet in specific zones, with limited inventory. In Whistler, Phase 1 and Phase 2 condos, townhomes, and single-family homes are commonly purchased with the intent to rent. Tofino/Ucluelet does continue to see interest in properties that can be used as nightly rentals, but with the zoning restrictions, inventory is not plentiful and remains competitive.

British Columbia Recreational Market Overview

Penticton Market Overview

A sought-after recreation and retirement destination known for its world-class views and amenities, Penticton is currently experiencing balanced market conditions, with increasing inventory providing plentiful options for prospective buyers and boosting demand for properties in the region.

Average recreational sale price across all residential property types, increased by 6.4 per cent year-over-year (from $615,216 in Q1 2024 to $654,684 in Q1 2025). Average number of transactions across all recreational property types increased by 14.2 per cent year-over-year (from 2,823 in 2024 Q1 to 3,224 in 2025 Q1). Sale prices are expected to rise three per cent by the end of 2025, while the number of sales is also likely to rise, by five per cent by the end of 2025.

The region continues to draw a diverse range of buyers, including families looking for a vibrant community, retirees seeking a relaxed pace of life, and recreational buyers eager to enjoy the area’s natural beauty. While some buyers are local, a growing number are relocating from major urban centres and outside of the province, attracted by Penticton’s unique blend of lifestyle amenities, scenic surroundings and strong sense of community. With these factors in play, real estate sales are expected to remain active and resilient in the coming months.

Affordability is a key factor for buyers in Penticton, with the Bank of Canada reducing interest rates helping to build consumer confidence and get buyers out onto the search again. It’s too early to say the impacts of proposed US tariffs on local and Canadian homebuyers, but agents in the Penticton have received inquiries from US residents looking to make a move north of the border.

The features and amenities most in demand among residential property buyers in 2025 are:

• Waterfront properties
• Access to recreational activities (I.e. skiing, water sports)
• Outdoor kitchens
• Quiet neighbourhood

Most waterfront properties from single-family to condominiums in Penticton are occupied year-round, with owners drawn to scenic beauty, robust recreational opportunities, hiking and biking trails, golf courses and water activities the region provides. Owners see the value in Penticton and are in it for the long term – with some planning to keep it in the family for their kids or grandkids to enjoy. Turn-key properties are in high demand, they are move in ready and many buyers aren’t looking to take on the additional time and costs of renovation projects. Owners and buyers want to enjoy the time they have in Penticton without worrying about upkeep and maintenance.

Buying Advice

If in the financial position, this is a great time to get into the recreational property market as low interest rates have made properties more affordable, and there is ample selection of properties at the moment. Savvy real estate consumers always think long-term when buying real estate, which includes ensuring that you are aware of all the potential uses for your property and any taxes applicable to your purchase and a sale in the future. Estate planning is a tool that families can use to help them achieve their long-term goals.

Osoyoos Market Overview

Osoyoos is seeing a balanced market right now as local buyers remain interested and inventory is high, with plenty of options to choose from. Average recreational sale price across all residential property types, increased by 5 per cent year-over-year (from $589,619 in Q1 2024 to $651,587 in Q1 2025). Average number of transactions across all recreational property types increased by 43.5 per cent year-over-year (from 23 in 2024 Q1 to 33 in 2025 Q1). Sale prices are expected to fall five per cent by the end of 2025, while the number of sales is expected to rise, by 25 per cent by the end of 2025.

Lower interest rates paired with South Okanagan’s appeal as a top vacation destination have sparked a dramatic increase in activity and sales across in Osoyoos. The region is also seeing a noticeable uptick in interest from foreign buyers, particularly from the U.S., as more people consider relocating or retiring in Canada in response to the global markets and economic landscape. South Okanagan remains a strong draw and continues to attract a diverse mix of buyers: families looking to settle in a safe and vibrant community, retirees ready for the next step, and recreational buyers eager to soak up the area’s natural beauty, outdoor adventures, cultural experiences and culinary delights.

While some buyers are local, an increasing number are relocating from major urban centers outside of B.C., drawn to Osoyoos for its unique mix of lifestyle amenities, stunning scenery, and strong sense of community. On top of that, rising air travel and accommodation costs are encouraging more families to consider spending time at home and invest in a Canadian recreational property.

The features and amenities most in demand among residential property buyers in 2025 are:

• Larger properties with more outdoor/green space
• Waterfront properties
• Access to recreational activities (I.e. skiing, water sports)
• Close-knit community
• Quiet neighbourhood

Several up-and-coming communities in the region are catching buyers’ attention. Meadowlark Subdivision Two offers 28 affordable single-family homes that are perfect for retirees and young families, all centrally located and within walking distance of schools, bike and hiking trails, and everyday amenities. Rosemarie Gardens features 14 brand-new residences, some with mortgage-helper suites – a great option for extended families or recreational buyers looking to generate short-term rental income to help offset ownership costs. For those seeking more space and privacy, Regal Ridge Estates offers stunning three-acre parcels with breathtaking views and a peaceful setting, just 15 minutes from town – ideal for the exclusive buyer looking for a quiet retreat.

Plenty of buyers are snapping up properties in the area, not just to rent out for extra income, but also with the intent of passing them down to their children and grandchildren. Move-in-ready homes are still hot, but if a place comes with a jaw-dropping view, some buyers are willing to roll up their sleeves and take on renovations to enter the market at a lower price point and tailor the property to their vision and lifestyle.

Buying Advice

Now is a great opportunity to enter the recreational property market. With low interest rates making properties more affordable, and plenty of options currently available, it’s a good time to buy. Savvy buyers always think long-term, so it’s important to consider the full potential of your property and any taxes that may come into play when it’s time to sell. Estate planning is also a key tool for families to help you achieve your long-term goals.

Short-term rentals are restricted in Osoyoos, so it’s a good idea to work with a professional realtor who can guide you on how this might impact your property options and help you find the best fit for your needs.

Summerland Market Overview

Summerland is experiencing a balanced market right now, with people from urban centres flocking to more rural areas to explore property investment. Average recreational sale price across all residential property types, increased by 4 per cent year-over-year (from $811,235 in Q1 2024 to $903,757 in Q1 2025). Average number of transactions across all recreational property types increased by 100 per cent year-over-year (from 17 in 2024 Q1 to 34 in 2025 Q1). Sale prices are expected to rise three per cent by the end of 2025, while the number of sales is expected to rise, by five per cent by the end of 2025.

The region is also seeing a noticeable uptick in interest from foreign buyers, particularly from the U.S., as more people consider relocating or retiring in Canada in response to new U.S. policies. Beyond that, out of province and out of country buyers appreciate the amazing views and quiet lifestyle that Summerland offers, attracting a diverse mix of buyers: families looking for a vibrant community, retirees ready for a slower pace, and recreational buyers eager to soak up the area’s natural beauty.

While some buyers are local, a growing number are making the move from major urban centres outside of B.C., drawn to the region’s unique blend of lifestyle amenities, scenic surroundings, and strong sense of community. With all these factors at play, real estate sales are expected to stay active and resilient in the months ahead. In addition, increased costs of air travel and accommodations are making families take a second look at investing in a recreational property to spend their vacation time in Canada. Additionally, real estate prices keep appreciating, making real estate a sound investment for many families.

The features and amenities most in demand among residential property buyers in 2025 are:

• Larger properties with more outdoor/green space
• Waterfront properties
• Access to recreational activities (i.e. skiing, water sports)
• Close-knit community
• Quiet neighbourhood

Trout Creek is a highly sought-after community that appeals to both families and retirees, thanks to its perfect blend of convenience and natural beauty. Residents enjoy being just minutes away from schools, making it an ideal location for families with young children. The community is also home to picturesque beaches along Okanagan Lake, offering plenty of opportunities for relaxation and outdoor recreation. With easy access to local shops, restaurants, parks, and other amenities, Trout Creek provides a welcoming and well-rounded environment for those looking for a vibrant yet peaceful place to live.

The easing of interest rates has helped make owning a recreational property more attainable and exciting for many buyers. As travel costs rise, more families are seeing recreational properties not just as a getaway, but as a long-term investment. Demand for quality, affordable properties in the region has been steadily increasing. Amid the federal election and broader economic uncertainty, many savvy buyers are realizing that now is the perfect time to invest. The region has shown consistent appreciation year after year, making it a smart choice for those looking to get into the growing market.

There’s been a growing interest in properties with suites that offer the potential for vacation or short-term rentals. Some families are also opting for fractional ownership in recreational properties throughout the Summerland. While many buyers prefer turn-key homes, there’s a willingness to compromise for those unique properties with stunning views. In fact, a lot of buyers are even considering these properties as potential primary residences, drawn to the entire region’s charm as a sought-after recreation destination.

Buying Advice

It’s also important to note that the South Okanagan allows short-term rentals in certain areas. To make sure you fully understand your options and find the right fit, partner with a professional realtor who can help guide you through the process.

North Okanagan Market Overview

North Okanagan is currently balanced, with healthy levels of inventory for buyers to choose from. While there is some pent-up demand, it’s not overwhelmingly and North Okanagan is stable market for both buyers or sellers.

Recreational property prices in the North Okanagan are expected to rise modestly through the end of 2025, with an estimated increase of three per cent, due to stable demand and limited inventory. Sales activity is anticipated to pick up in 2025, with an estimated increase of approximately 6.7 per cent compared to 2024. This is attributed to economic recovery and potential interest rate cuts.

Properties are taking longer to sell, currently averaging around 89 days on the market, but demand  remains steady, especially as urban buyers from Greater Vancouver seek a retreat from city life and  look to North Okanagan for well-priced and well-located properties. Generation X—comprising families, couples, and retirees—is driving the demand and sales of cabin and cottage properties due to their desire for vacation homes that can be passed down to future generations. This demographic is particularly focused on a long-term investment, seeking a property that can provide both personal enjoyment and passed along to younger generations.

Most recreational property buyers in North Okanagan are local, with interested buyers also coming from the Lower Mainland and Alberta. Buyer confidence is cautiously optimistic, with expectations of interest rate cuts boosting market activity. However, potential barriers include affordability issues and limited availability of entry-level properties.

Buyers are looking for larger properties with more outdoor/green space as well as good access to recreational activities (ie. Skiing, water sports) with good Wi-Fi access, securing a feeling of home away from home.

Due to tighter short-term rental restrictions in the region, fewer buyers are purchasing cottages with the intention of using them as rental properties. That said, there is a notable interest among buyers in passing down cottage properties to future generations, securing a family legacy and reflecting a long-term investment mindset.

Buyers are looking for both properties in need of renovation and those that are move-in ready. Their choice depends on their experience and goals. Those with renovation experience often prefer properties that need work, as it allows them to enter the market at a lower cost and customize the home to their preferences.

Buying Advice

Potential homebuyers should also be aware of new provincial short-term rental restrictions, which could affect the feasibility of using recreational properties for short-term rentals.  Working with a professional real estate agent can support Canadians interest in calling North Okanagan home better understand the region, relevant regulations, housing market trends and ultimately identify the property that best needs your needs.

Whistler Market Overview

Depending on the market segment or season, the Whistler market varies between a buyer’s market, seller’s market and balanced market, depending on the time of year. Average recreational sale price across all property types, increased by 13.5 per cent year-over-year (from $1,688,602 in Q1 2024 to $1,916,126 in Q1 2025). Average number of transactions across all property types decreased by 14.8 per cent year-over-year (from 88 in 2024 Q1 to 75 in 2025 Q1).

Stability is expected for the market, as many Canadians continue to show interest in purchasing recreational properties in Whistler as an investment. Interest rate dependent purchases are expected to move more quickly, as rates continue to drop.

Whistler remains a desirable community for Canadians looking to purchase from Greater Vancouver Area, drawn to the recreational activities available, like skiing and water sports.

The surrounding areas of Squamish and Pemberton have also seen an increase in popularity. There has been an increase in new developments in Squamish, including downtown and along the waterfront where there is a need for housing. In Pemberton, many are drawn to the family-friendly community.

Nightly rentals are still common in Whistler, with some condominium, townhome, and single-family home communities continuing to allow this additional income opportunity to property owners. Buyers are motivated to purchase recreational properties as rental properties, it being a requirement for phase two properties, as well as second homes if the zoning allows. Lowering interest rates are beginning to motivate buyers and interest is expected to grow if the rates are reduced again this year. Uncertainty regarding tariffs continues to leave buyers cautious, but with the volatility in the stock market, more buyers are looking to real, recreational properties as a safe and stable investment opportunity.

Buying Advice

Consult a professional agent as they can help buyers navigate use, zoning, and environmental concerns, especially wildfires through the summer. While Whistler has yet to have direct scares, environmental factors can influence insurance premiums and buyers need to understand the options.

Homebuyers should also research policies which impact the area, including short-term rental restrictions, anti-flipping taxes, the Under-used Housing Tax (UHT). The UHT particularly impacts buyers who are from out of the country. Notably, the foreign buyer ban does not apply to properties in Whistler.

Tofino & Ucluelet Market Overview

Tofino/Ucluelet is experiencing a balanced market, despite tighten inventory and higher demand as Canadians look to the region for recreational properties. Average recreational sale price across all property types, increased by 5.4 per cent year-over-year (from $888,532 in Q1 2024 to $936,857 in Q1 2025). Average number of transactions across all property types decreased by 12.5 per cent year-over-year (from 8 in 2024 Q1 to 7 in 2025 Q1). Average sale prices are expected to stay steady through the end of 2025, while the number of sales is predicted to increase by 20 per cent due to rising demand and growing competition in the region.

Recreational property sales in the region are being driven mainly by families, young and middle-aged couples, and investment buyers. Young couples in particular see properties in Tofino/Ucluelet as a strong investment, seeking part-time vacation homes that generate additional income as a rental property when not in use. Parents continue to help their kids enter the market, a pattern that has existed in the region for several years.

While most buyers are local, coming in from Vancouver Island an the Lower Mainland, there has been a small number of US buyers looking to this region, attracted by the region’s quieter, relaxed lifestyle.

The features and amenities most in demand among recreational buyers include:

• Access to recreational activities (i.e. skiing, water sports)
• Good Wi-Fi access
• Close-knit community

Despite the upcoming federal election, U.S. tariffs, and overall economic uncertainty, the region is experiencing increased interest at the lower end of the market as people seek a peaceful Canadian retreat away from the demands of city life. Some buyers look to the region for potential nightly rental properties to find ways to offset expenses, but in Tofino/Ucluelet, there are few areas that allow for rental zoning and inventory is tight. Buyers are showing interest in turn-key cottages, as the location offers a convenient option for those seeking a ready-to-enjoy retreat without the need for major renovations or upgrades.

A small number of buyers are now looking to Tofino/Ucluelet as a year-round home, specifically in the Salmon Beach Recreational Village, located just 30 minutes outside of town, which has historically been a seasonal dwelling area. Out of the 400 lots in the village, around 20 to 30 properties now have full-time residents, as the area offers a more affordable housing option compared to urban alternatives.

The region is a tsunami-prone waterfront, with additional concerns about rising sea levels and storm surges. These factors are contributing to increased awareness around the potential risks associated with waterfront properties.

Buying Advice

If interested in nightly rental vacation properties, they’ll generate enough income to cover the expense of ownership with added income, but not enough income to cover a full mortgage payment and expenses. It’s also important to be aware of zoning requirements, as they can vary significantly, even within designated Resort Municipalities.