The median price of recreational properties fell by almost 18% in the Charlevoix MRC in 2024, while it increased by almost 6% in the Charlevoix-Est MRC. The rise in interest rates and investments in eastern Charlevoix would be to blame.
According to Royal LePage’s 2024 Winter Recreational Properties Report, “the real estate market around the Massif and Mont Grand-Fonds showed contrasting trends in 2024, with prices falling in the west and stable growth in the east.
In the West, the median price of single-family homes fell 17.9% during the first nine months of the year, to $327,500. However, sales increased by 12.1% during the same period. The price of entry for a home on the slopes is around $450,000.
Royal LePage predicts that the median price of single-family properties will increase by 3% over the next 12 months.
“The period of higher interest rates pushed prices down in Charlevoix West, as sellers clung to higher pandemic-era market values. This gave rise to price adjustments and more negotiation between sellers and buyers this year,” believes Denis Lavoie, residential and commercial real estate broker at Royal LePage Blanc & Noir.
In Charlevoix-est, the median price of single-family homes increased by 5.9% to reach $250,000, with a 2.2% increase in sales. Royal LePage predicts that the median price of single-family properties will increase by 5% in the region over the next 12 months.
“Upcoming investments, including the construction of a new hospital, should stimulate activity and property prices in the coming year,” explains Mr. Lavoie.
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