Cautious optimism in the 2023 recreational market
Kenora & Lake-Of-The-Woods, On
2023 RE/MAX Cottage Trends Report
• The recreational property market in Kenora and Lake-Of-The-Woods is currently balanced, however if inventory increases, conditions may shift in favour of buyers.
• Key factors influencing recreational property buyers this year include rising interest rates; the cost of food, energy and overall cost of living; and an anticipated recession.
• Based on early interest from buyers, 2023 is expected to be steady, providing inventory levels increase substantially to support the demand.
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$341,700
2023 (January-March)
average price
$852,857
2022 (January-March)
-59.9%
Year-Over-Year
-28.6%
Year-Over-Year
7 unit sales
2022 (January-March)
5 unit sales
2023 (January-March)
Sales stats
market outlook
-25%
2023 Sales Estimate
-6.5%
2023 Price Estimate
-59.9%
Year-Over-Year
$852,857
2022 (January-March)
$341,700
2023 (January-March)
Average price
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Balanced Market
Balanced Market