This has been a start-stop year for Canada’s real estate sector, but one market is booming ahead of the winter — real estate in Canada’s ski regions.
And experts say the Buy Canadian movement appears to be behind it.
Home prices in Canada’s popular ski regions rose moderately in the first nine months of 2025, a new Royal LePage report said Thursday.
The report said “strengthened domestic demand” due to the Buy Canadian movement is driving interest in recreational and vacation properties in Canada.
The price of a single-family detached home in winter recreational markets increased 3.8 per cent compared to the same period last year to $982,000, according to Royal LePage’s 2025 Winter Recreational Property Report.
The report collected data from the top 18 skiing destinations in Canada, spread across four provinces — British Columbia, Alberta, Ontario and Quebec.
Some markets like Sun Peaks, B.C., (24.3 per cent), Canmore, Alta., (9.5 per cent) and Mont Sutton, Que., (23.6 per cent) saw significant price increases compared with the national average.
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Even condo prices, which have cratered in many parts of the country, seem to be going up in Canada’s ski towns. For example, the median price of a standard condominium in Whistler, B.C., increased more than 20 per cent to $702,000 compared to the same period in 2024, the Royal LePage report said.
The report also surveyed “recreational property experts,” 47 per cent of whom said the primary driver of inquiries from domestic buyers was the Buy Canadian sentiment.
“Following a year of sluggish activity and stagnant prices in 2024, the real estate markets in Canada’s most popular ski destinations rebounded in 2025. Modest interest rate relief and a growing Buy Canadian mindset helped reignite demand for slopeside chalets and mountain retreats,” Phil Soper, president and CEO of Royal LePage, said.
This contrasted with Canada’s urban markets, where economic uncertainty made buyers hesitant, Soper said.
“Buyers seeking winter escapes are pushing ahead — demonstrating once again the resilience and enduring appeal of Canada’s recreational regions,” he said.
The interest in Canada’s recreational property market is expected to grow, with Royal LePage expecting a further four per cent increase in home prices in these regions over the next year.
Demand for winter vacation rentals is also going up, said Jayne McCaw, president of Jayne’s Luxury Rentals.
“We’re seeing more demand from Canadians coming for winter vacations this year, renting places for the ski season (in Canada) as opposed to going south,” McCaw said.
Jayne’s Luxury Rentals has seen a 10 per cent increase in revenue compared to last year, she said.
“There is more demand for longer bookings in the winter season. And we’re just at the beginning (of the season),” she said.
This comes as data suggests Canadian snowbirds are turning away from the U.S.
A recent survey by the Travel Health Insurance Association of Canada (THIA) found most Canadians are going to be skipping U.S. travel this winter, with only 26 per cent saying they will head south this winter, a 37 per cent drop from last year.
The pullback is sharpest among baby boomers, traditionally the snowbird generation, with only 10 per cent planning U.S. trips, the report said, noting that this is a 66 per cent decline compared with last year.
Canadians are choosing to keep their holiday spending local, too, a survey by payment platform Square said.
More than half (54 per cent) of those planning to allocate more of their holiday gifting and entertainment budgets to support Canadian-owned retailers this year say they are willing to pay up to 50 per cent more to buy Canadian, the survey said.
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