You might assume that while Canada’s broader housing market is still adjusting, the vacation home segment would be even quieter.
Recent data suggests otherwise.
According to the newly released Royal LePage 2025 Winter Recreational Property Report, vacation homes in Canada’s most popular ski destinations are showing clear signs of recovery, with prices moving higher in 2025.
I’m Fisher. In this article, I’ll break down what’s driving this rebound, whether it represents a short-term bounce or a more structural shift, and what buyers should realistically consider before entering the vacation home market.
1. Vacation Home Prices Are Moving Up Again
Royal LePage reports that detached vacation homes in Canada’s major ski regions increased in value by approximately 3.8% year over year during the first nine months of 2025. Median prices in these markets are now approaching $980,000.
Looking ahead, the report forecasts a further 4% increase over the next 12 months, suggesting that confidence is gradually returning after a relatively subdued period in 2023 and 2024.
This recovery does not signal an overheated market, but rather a steady normalization following two challenging years.
2. The Primary Driver: A Return of Domestic Buyers
A key theme behind this rebound is the return of Canadian buyers — often described as a growing “Buy Canadian” momentum.
According to the report:
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47% of recreational property experts noted increased interest from domestic buyers.
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Many Canadian households are choosing to keep both lifestyle spending and real estate ownership within Canada.
Rather than renting vacation properties seasonally, more buyers are now considering long-term ownership as part of their lifestyle and asset planning.
At the same time, favorable exchange rates have renewed interest from U.S. buyers in select ski destinations, providing additional support on the demand side.
3. Why Ski Town Vacation Homes Are Showing Resilience
One of the most telling findings in the report is the overall resilience of ski resort markets:
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89% of ski destinations reported increased transaction activity in 2025
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78% of markets experienced price growth
This suggests that while uncertainty persists in broader housing markets, high-quality vacation homes have remained relatively stable.
A major reason is that recreational properties are not purely driven by short-term investment returns. They often represent a blend of lifestyle value, family use, and long-term ownership — factors that tend to reduce volatility.
4. A Practical Perspective on Buying a Vacation Home
While the idea of owning a vacation home is undeniably appealing — whether for skiing, seasonal retreats, or family gatherings — it’s important to approach the decision with clear expectations.
Before buying, prospective owners should carefully evaluate several practical considerations:
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Usage frequency: How often will the property realistically be used each year?
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Remote management: Is there a reliable plan for maintenance and oversight from a distance?
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Carrying costs: During periods of non-use, can rental income partially offset expenses?
In many cases, financial structure, management complexity, and actual usage matter far more than short-term price appreciation.
These factors ultimately determine whether a vacation home enhances your lifestyle or becomes an ongoing obligation.
Final Thoughts
Overall, Canada’s vacation home market is gradually emerging from its recent low point in 2025, particularly in established ski destinations. Demand is improving, prices are stabilizing, and confidence is returning — but in a measured, disciplined way.
Vacation homes remain a category that requires long-term planning and realistic expectations.
They are both:
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a lifestyle choice, and
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a long-term asset that demands thoughtful management.
Approached carefully, a vacation home can be deeply rewarding. Approached without proper planning, it can quickly become challenging.
As always, understanding both the numbers and the realities is key.
Contact The Fisher Group – Your Real Estate Experts in Oakville and the GTA
Fisher Yu
📱 647.598.8488
📧 [email protected]
🌐 thefishergroup.ca
