Slow Economy Impacts Sylvan Lake Recreational Property Market

Sylvan Lake has remained relatively flat over the course of the past year due to the stagnant economy. Inventory levels are higher than normal, however, there has been little sales activity. It continues to be a secondary home market for families who can afford recreational properties. The median price for waterfront properties is $700,000 while the price for non-waterfront properties comes in at $350,000. While retirees and millennials make up part of the ownership of the market, they’re not actively looking to purchase.

Interested buyers are most interested in lake access in which boating, swimming and fishing continue to be popular activities. The direction of the market in future largely depends on the economy.

Sylvan Lake Market Conditions:

  • Waterfront properties at 0% increase year over year
  • Non-waterfront properties at 0% increase year over year

 

Sylvan Lake At A Glance:

Situated halfway between Calgary and Edmonton, Sylvan Lake is very popular for recreational property owners as well as tourists. Less than a two hour drive from Alberta’s two largest cities, city dwellers can escape to one of Canada’s  top 10 beaches and enjoy the northern lights. Sylvan Lake is the perfect location for those who are looking for a four season property near lots of amenities and activities. This luxury region offers fabulous restaurants, lake cruises, water activities, and golf as well as ice fishing and snowmobiling. Boating enthusiasts will enjoy the Sylvan Lake Sailing Club’s weekly races across the lake.