Why Ontario’s on cottage watch 

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While Ontario’s cottage country offers a refuge from the ups and downs of urban life, few places in Canada are as susceptible to the ups and downs of home prices. 

According to Royal LePage’s 2024 Spring Recreational Property Report, the median price of a single-family home in Canada’s recreational regions is forecasted to increase by five per cent year-over-year in 2024, with Ontario projected to see the highest level of appreciation at eight per cent. This follows two consecutive years of declines — one per cent in 2023 and 11.7 per cent in 2022 — in the wake of unprecedented pandemic-fuelled demand that saw aggregate 2021 prices in Ontario spike by 34.6 per cent in the highest increase ever recorded. Indeed, despite more recent dips, the national weighted median single-family home price in Canada’s recreational market remains 59 per cent above 2019 levels.  

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After the pandemic’s “gold rush fever” in recreational markets, “inflation reared its ugly head, interest rates soared and the economic downturn pushed cottage, cabin and chalet prices off those pandemic peaks,” says Royal LePage president and CEO Phil Soper. “Yet the fundamental demand for recreational living has not abated. We believe that this market segment will see a resurgence of activity in 2024.”  

One of the main factors behind this projected uptick is a lack of inventory. On the one hand, a survey of 150 Royal LePage agents found that nearly three-quarters reported less or similar inventory compared to the same time last year. On the other hand, 64 per cent of respondents reported similar or more demand from buyers.  

While this supply-demand imbalance is putting upward pressure on prices across Ontario cottage country, the five new pre-construction projects below may appeal to buyers who are less worried about year-over-year trends and more willing to take a longer view. 

Juniper Ridge, Calabogie Peaks 

An hour’s drive west of Ottawa, Calabogie Peaks is currently home to Ontario’s tallest public ski hill, a boutique hotel, a nine-hole golf course, several docks and a small sandy beach lining the western shores of Calabogie Lake. But big plans are taking shape. Juniper Ridge, the first phase of a 418-unit master-planned community spread over about 700 acres of hillside above the ski resort’s base area, features 97 modernist townhouses and stacked condo units designed by Toronto’s Giannone Petricone Associates and developed by the resort’s owners in partnership with Renfrew-based McGrimmon Holdings. Floor plans range from 645-square-foot one-bedrooms with “flex rooms” to three-bedrooms maxing out at 1,425 square feet. Each residence also comes with a balcony and roomy bathrooms, with the impending arrival of high-speed Internet service designed to entice year-round residents. Currently in pre-construction, Juniper Ridge launched public sales in March.  

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Starting in the mid-$500,000s. For more information, visit calabogierealestate.com. 

The Summit Muskoka, Huntsville 

Steps from Fairy Lake and downtown Huntsville, this 175-unit project by Markham’s Trulife Developments features two-storey back-to-back townhomes with private rooftop terraces. Ranging from 1,495 to 2,393 square feet, the two- and three-bedroom units will be spread over 16 townhome blocks that have access to a private beach and dock. Other communal amenities include a private clubhouse with a party room and fireplace, a 2,700-square-foot fitness centre and yoga studio, and a rooftop terrace with dining and seating areas. 

Starting in the mid-$800,000s. For more information, visit thesummitmuskoka.com. 

Talbot on the Trail, Picton 

After the first three phases of this 182-unit development sold out, sales of Phase 4 launched In May. Developed by Port Picton Homes, Talbot on the Trail includes one- and two-storey freehold and back-to-back townhomes, all of which offer nine-foot ceilings, quartz kitchen countertops and marble-topped bathroom vanities. A wide array of breweries, wineries, farmer’s markets and other pastoral diversions can be reached by strolling up or down the Millennium Trail, with lively downtown Picton a six-minute bike ride away. 

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Starting at $497,156. For more information, visit portpictonhomes.com. 

Summerside Towns, Oak Bay, Port Severn  

Tucked into the 6,503-yard course at the Oak Bay Golf & Country Club, this impending release of 31 two- and three-storey townhomes in the Oak Bay master-planned community is steps from amenities including a pool, BBQ stations and pickleball courts, with a nearby marina easing access to Georgian Bay’s 30,000 Islands. 

Six models include the 1,730-square-foot “Shine,” which features three bedrooms, 2.5 bathrooms, an attached garage, and a covered porch, rooftop terrace, and rear patio and deck, and the 2,264-square-foot “Oasis” that adds a ground-floor rec room and second-floor family room to the mix. All units include nine-foot ceilings, direct vent propane fireplaces, glass-framed shower stalls, and kitchen islands with high-top seating. 

Pricing available upon release. For more information, visit myoakbay.ca. 

Cedar Creek, Southampton Landing   

On the southern outskirts of its namesake town, the Southampton Landing master-planned community is criss-crossed by nature trails that wind through preserved forest and past a pond and meadow. The upcoming release of Cedar Creek, a seven-block collection of 25 bungalow townhomes built by Alair Homes, will include EV chargers, expansive decks, two-car garages, walkout basements and optional lofts. Built to be up to 80 per cent more energy efficient than the standard building code requires, Cedar Creek’s homes can achieve net-zero emissions by installing solar panels. Speaking of sunshine, several sandy Lake Huron beaches, nature parks and long-distance trails are within a five-minute drive of Cedar Creek. 

 Pricing available upon release. For more information, visit cedarcreektowns.ca. 

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