Waterfront property listings for both year-round homes and seasonal use have plummeted, partly due to increasing demand. "We are at historically low inventory," says Karen Hill, the president of the Thunder Bay Real Estate Board. A recent Leger survey found that 11 per cent of Canadians were already searching for recreational property prior to the start of the COVID-19 pandemic, and that 15 per cent of Canadians who were not searching at the time are now looking. A report from RE/MAX Canada describes Thunder Bay as a sellers' market, with low inventory and high demand. "Not just Lake Superior but like One Island Lake and Hawkeye and Dog Lake, the year-round houses are in high demand right now. Higher-end homes are selling with multiple offers," Hill said, adding that other recreational properties are also getting multiple offers.