A new report by Royal LePage says prices for vacation homes are expected to rise this year as demand still outpaces supply.

The report says falling interest rates have helped sustain demand for vacation properties.

In Saskatchewan between 2023 and 2024 the price of a single-family recreation home went up by 9 per cent from a median price of $382,500 to $420,400.

This would be property at Christopher Lake, Emma Lake, Candle Lake, Waskesiu and Elk Ridge.

For a single-family waterfront vacation home between 2023 and 2024 the median price actually dropped 8 per cent going from $660,000 to $607,000 last year.

During the Hospital Home Lottery when the early bird prize is a cottage at Candle Lake, its value has been estimated at $1 million.