A new report from Royal LePage reveals that Edmontonians continue to seek recreational properties in mountain and lake communities, with demand remaining robust despite economic headwinds such as higher gas prices and uncertainty. The report highlights that communities like Canmore and nearby lake areas are experiencing sustained interest and rising prices.
Lakeside Properties in High Demand
Tom Shearer, broker and owner of Royal LePage Noralta Real Estate in Edmonton, noted that even dry conditions at Wabamun Lake did not dampen sales. The median price for a single-family detached home in the lake community west of Edmonton rose less than one percent in 2025 to $393,000. However, lakefront properties, which are in limited supply, saw nearly 12 percent growth, reaching a median price of $950,000—the highest among all lake communities in Alberta.
Canmore: A Top Recreational Market
Canmore remains a premier destination for Edmontonians, with prices reflecting its popularity. The median price for a single-family detached home in 2025 grew nearly 14 percent year-over-year to $1.95 million, while condominium prices increased almost 13 percent to over $726,000. Brad Hawker, a Canmore realtor with Royal LePage, noted that Edmontonians constitute a significant portion of buyers, including families seeking weekend getaways and retirees transitioning to year-round living.
Market Outlook
The report forecasts Alberta’s recreational property market to see a median price growth of 2.5 percent in 2026, reaching over $881,000. Shearer attributes the sustained demand to Alberta’s growing population from interprovincial migration, which fuels interest despite limited inventory. “A larger population translates into more demand,” he said, “and paired with limited selection, that keeps prices elevated.”
