Despite rising prices, Calgarians continue to seek out recreational properties in the mountains and at lakes, according to the latest Royal LePage 2026 Spring Recreational Property Report. The report highlights strong demand across Canada, with average prices increasing nationally for single-family detached homes and apartment condominiums in sought-after lake and mountain communities.
Canmore: A Top Choice for Calgary Buyers
Canmore, one of the nation's most expensive recreational markets, has long been a favoured destination for Calgary buyers. However, they now face steep prices and increased competition from other Canadian and U.S. buyers. Brad Hawker, associate broker with the Hawker Betts Real Estate Team at Royal LePage Solutions in Canmore, notes that demand comes from various segments, including buyers from Edmonton, southern Alberta, and even Saskatchewan, often seeking single-family detached homes.
High demand and a continual lack of supply, largely due to geographical constraints, limit purchasing power. In Canmore, the median price of a single-family home in 2025 increased to $1.95 million, up nearly 14 per cent from 2024. Many buyers turn to lower-priced apartment condominiums, with a median price in 2025 of more than $726,000, an increase of nearly 13 per cent year over year.
Investor Interest in Short-Term Rentals
Apartment condominiums, often in areas zoned for short-term rentals, attract another segment of buyers: investors. Hawker explains that Canmore was ahead of the curve, starting zoning for short-term rentals about 28 years ago. The market segment has been busy in recent years, partly due to B.C. restricting short-term rentals, which has slowed recreational property demand there.
Other recreational buyers, including many Calgarians, are near-retirees or retirees, often purchasing with cash in Canmore, Hawker adds.
Eastern B.C. Communities See More Affordable Options
Many Calgarians go farther west to purchase recreational properties, driving demand in eastern B.C. The Royal LePage report suggests these communities face less supply and demand pressures than Canmore. In Invermere, in the Columbia Valley, the median price for a single-family detached home increased a little more than one per cent to $732,500, while the median price for a condominium apartment unit declined more than six per cent to $299,000.
Another popular mountain community with Calgary buyers is Fernie, in southern B.C. Although not included in the report, a local realtor notes that Fernie has seen rising prices over the last two decades due to high demand and limited supply, similar to Canmore.
Overall, the recreational property market in the mountains remains robust, with Calgary buyers continuing to seek out properties despite the challenges of rising prices and competition.
