Real estate firm predicts decline in cottage sales
The Royal Lepage Real Estate firm is predicting a slow down in cottage sales.
The three per cent decline in the price of a single family cottage in the Atlantic region follows an 18 per cent jump over the past two years.
It’s a smaller dip than the national average, which saw a four-and-a-half per cent drop from last year.
“The days of the multiple offers, well over asking [price], sight unseen type of buyers seem to be behind us,” said Corey Huskilson of Royal Lepage Atlantic. “Buyers are taking their time, they’re doing their research and they’re just waiting it out.”
The forecast says the average price of a cottage in the Atlantic region currently sits at $279,000 with the cheapest vacation homes found in New Brunswick’s St. Stephen region at $184,000. The most expensive is in Shediac, with an average price of $337,000.
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