Prices for Ontario ski chalets expected to skyrocket by double digits in 2025

Although would-be homeowners are finding starter homes in Ontario far too risky and increasingly unaffordable, those with a ton of capital and likely multiple properties already under their belt are still eager to buy up — and bid up — the province’s more expensive real estate.

As the condo market crashes in areas like the GTA, the luxury market is doing swimmingly, with year-over-year increases of as much as 58.5 per cent, on average, for certain categories of multi-million dollar homes.

It appears that recreational properties in certain popular destinations across the province are similarly in ever-increasing demand by those with the cash to buy them — and that said demand is only set to heat up, at least according to Royal LePage.

A new Winter Recreational Property Report from the real estate giant forecasts double-digit price gains this year for vacation homes in parts of Ontario, as well as elsewhere in Canada, that are perfect to visit in the colder season.

The firm examined sales trends in locales that are popular with fans of skiing and other winter sports, like Mont-Tremblant, Quebec and Whistler, B.C. Overall, its experts predict a 7.5 per cent spike in the average price for a home in these types of Canadian winter destinations. In some places, like the area around Blue Mountain, Horseshoe Valley and other ski resorts in Ontario, this figure is expected to be more like 10 per cent.

Though the price of the typical single-family detached home in Southern Georgian Bay (Collingwood/Meaford/Thornbury), Ontario, actually sank by 4.7 per cent from 2023 to 2024, Royal LePage predicts these real estate values to surge by 10 per cent, to a median of $938,300, this year.

Only houses in Invermere, B.C. and Stoneham & Lac-Beauport, Quebec, are anticipated to see jumps this substantial.

“Looking ahead, we foresee more homebuyers moving off the sidelines as lending rates continue to ease, resulting in a steady increase to recreational prices,” said a primary broker for Royal LePage Locations North regarding the report’s projections.

“Given that inventory levels remain low, I predict an influx of demand could quickly put upward pressure on prices, as consumers feel more confident about the trajectory of the market and seek to benefit from lower borrowing costs.”

One must keep in mind, though, that brands like Royal LePage and their agents have a vested interest in perpetuating confidence in the real estate market and its money-making potential, especially after a year like 2024.

Last year saw unprecedentedly low sales numbers in Ontario amid record-high available inventory levels, with more homes selling for under asking after sitting on the market for longer.

Stakeholders are still optimistic that softening interest rates and a growing population will prompt a return of the demand that the province has become known for.