Lakeside communities in the Edmonton region saw declining or slowing price growth in 2022 amid higher borrowing costs, but the province’s recreational properties market overall is still expected to see a modest price gain this year unlike other major rec markets in Canada, a new report forecasts.
Driving the province’s rec market is Canmore, which attracts many Edmonton buyers, says Tom Shearer, broker/owner of Noralta Royal LePage in Edmonton.
“When you think about what was happening during the pandemic, everyone was going to Banff and Canmore.”
With hotels and campsites fully booked during the pandemic, more Edmontonians looked to purchase their own vacation home in Canmore amid rock-bottom interest rates on mortgages, which made purchasing a second property more attainable, Shearer adds.
Indeed, the Royal Lepage 2023 Spring Recreational Property Report and Forecast found growing demand in Canmore where the average price of a single-family detached home increased about 16 per cent last year to reach nearly $1.53 million.
Demand is also expected to remain strong in 2023, in turn driving Alberta’s recreational property market overall. As the report notes, it will be the only provincial rec market in Canada to see price growth this year.
While Canada’s overall market is expected to see the average price of a single-family detached recreational property fall 4.5 per cent to $592,005, Alberta’s market is forecast to see the average price grow 0.5 per cent, reaching $1.17 million.
Alberta has consistently been Canada’s most expensive recreational market due to ongoing high demand for Canmore homes, a jurisdiction with limited supply partly due to geography and its regulatory environment that limits new development, Shearer says.
In contrast, British Columbia, Canada’s second most expensive market, is forecast to see average prices fall two per cent in 2023 to about $1.05 million.
Yet not all recreational communities in Alberta have seen demand like Canmore. Some of the most popular lake communities — all near Edmonton — saw only modest growth or price declines last year.
Pigeon Lake’s average price for a single-family home fell about one per cent to $386,300. The average price lakeside also fell about one per cent to $674,500 in 2022.
Lac Ste. Anne’s average price for a home fell more significantly, down 16 per cent to $360,700. For lakeside, the average price declined 11 per cent to $534,700.
Wabamun Lake homes, however, experienced slight growth, rising four per cent to $439,800, though lakeside homes fell nearly eight per cent to $820,200.
A realtor in the region expects the rec property market to see more demand this spring with buyers becoming more confident about mortgage rates.
“We are anticipating the market to return to pre-pandemic levels for listing and buying activity,” says Charlene Anderson, realtor with Re/Max Real Estate.
She notes Wabamun remains a preferred destination for prospective buyers.
“Its proximity to Edmonton gives it a mixed population of recreational users and permanent residents.”
Yet one challenge for buyers is understanding the lake geography, given one property lakeside can be priced differently than another due to water conditions and land features, she adds.
The bigger challenger, “especially the waterfront properties, is supply available,” says realtor Kevin Vandasselaar with Re/Max Real Estate in the region.
Consequently, buyers seeking the best properties in regional lake communities are advised to move fast, given these homes do not come on the market often as they are typically passed from one generation to the next, Shearer says.
“If you find one, seize on the opportunity because someone else is likely hot on your heels.”
<img src="https://www.mtlblog.com/media-library/a-woman-smiles-and-poses-in-front-of-a-golden-forest-right-a-couple-pose-in-front-of-bright-orange-trees-in-quebec.jpg?id=53769256&width=1245&height=700&coordinates=6%2C0%2C0%2C0"/><br/><br/><p>If you're looking for the <a href="https://www.mtlblog.com/fall-foliage-map-prettiest-leaves-quebec" target="_self" rel="noopener">best places to see fall colours in Quebec</a> or want to take a dreamy fall road trip from Montreal, look no further!</p><p>As the crisp air rolls in and the leaves start to turn, <a href="https://www.mtlblog.com/best-fall-colours-destination-near-montreal-prince-edward-county-canada" target="_self" rel="noopener">Quebec transforms into an autumn lover's paradise</a>. The trees light up in a mix of fiery reds, oranges, and golden yellows, making every corner of the province look like a painting come to life.</p><p>If you're ready to embrace sweater weather and take in some seriously jaw-dropping scenery, these 11 spots are the <a href="https://www.mtlblog.com/small-town-near-montreal-autumn-vibes" target="_self" rel="noopener">perfect places to soak up the season's best colours</a>. From vibrant forests to shimmering lakes, get ready to experience all of the fall feels!</p><h3>Parc national des Hautes‑Gorges-de-la-Rivière‑Malbaie</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CU523mQgNgO/?utm_source=ig_embed&ig_rid=edfb6e8f-4f30-4d0f-804a-e74647fbac83" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<a href="https://www.instagram.com/p/CU523mQgNgO/?utm_source=ig_embed&ig_rid=edfb6e8f-4f30-4d0f-804a-e74647fbac83" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top" rel="noopener">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Cost: $9.85 per adult for a day pass</p><p>Address: 500, rue Principale, Saint-Aimé-des-Lacs, QC</p><p>Why You Need To Go: Hautes-Gorges-de-la-Rivière-Malbaie National Park is easily one of Quebec's most beautiful spots. With its towering cliffs and sweeping views, it's the kind of place that'll leave you totally speechless. Whether you're hiking the trails or paddling along the Malbaie River in a kayak or canoe, you'll get to experience the stunning fall colours from every angle.</p><p><a href="https://www.sepaq.com/pq/hgo/index.dot?language_id=2" target="_blank" rel="noopener">Sépaq website</a></p><h3>Mont King</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/Cj5Z5smOPCw/?utm_source=ig_web_copy_link" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<a href="https://www.instagram.com/p/Cj5Z5smOPCw/?utm_source=ig_web_copy_link" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top" rel="noopener">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Cost: $10 per adult from May to November, free for residents</p><p>Address: Mont King, Parc régional de Val-David-Val-Morin, QC</p><p>Why You Need To Go: After a two-hour hike, you'll reach the summit of Mont King, and the fall colours make the view even more breathtaking. With a 570-metre elevation, the cliffside offers a stunning backdrop of vibrant autumn foliage—especially if you time your hike for sunset, when the golden light hits the trees just right!</p><p><span></span><a href="https://www.parcregional.com/activites/course-et-randonnee/" target="_blank" rel="noopener">Parc régional de Val-David-Val-Morin Website</a></p><h3>Parc de la Gorge de Coaticook</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CU6kRKoq1Hg/?utm_source=ig_web_copy_link" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<a href="https://www.instagram.com/p/CU6kRKoq1Hg/?utm_source=ig_web_copy_link" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top" rel="noopener">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Cost: $10.50 per adult for a day pass</p><p>Address: 400, rue Saint-Marc, Coaticook, QC</p><p>Why You Need To Go: Stretching 169 metres, the suspension bridge at Parc de la Gorge de Coaticook offers incredible views of the surrounding forest and the river winding below. This fall, it's the perfect spot to soak in the colourful scenery while getting a little thrill as you walk across.</p><p><a href="https://gorgedecoaticook.qc.ca" target="_blank" rel="noopener">Parc de la Gorge de Coaticook Website</a></p><h3>Vallée Bras-du-Nord</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/DAmVhC0s8Dn/?utm_source=ig_web_copy_link&igsh=MzRlODBiNWFlZA==" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<a href="https://www.instagram.com/p/DAmVhC0s8Dn/?utm_source=ig_web_copy_link&igsh=MzRlODBiNWFlZA==" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top" rel="noopener">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Cost: $10 for access to the trail</p><p>Address: 2180, rang Saguenay, Saint-Raymond, QC</p><p>Why You Need To Go: For an autumnal hike that'll leave you feeling inspired, hit the trails at Parc de la Vallée Bras-du-Nord. This eight-kilometre round-trip trek brings you right to the breathtaking Delaney Falls, a 20-metre cascade that looks like it's straight out of a postcard.</p><p><a href="https://valleebrasdunord.com/activites-de-plein-air/randonnee-pedestre/" target="_blank" rel="noopener">Vallée Bras-du-Nord Website</a></p><h3>Mont Sourire</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CGkYOwiHi6p/?utm_source=ig_web_copy_link" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<a href="https://www.instagram.com/p/CGkYOwiHi6p/?utm_source=ig_web_copy_link" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top" rel="noopener">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Cost: Free</p><p>Address: Chemin de l'Étang, Saint-Donat-de-Montcalm, QC</p><p>Why You Need To Go: Mont-Sourire promises a laid-back, easy hike with stunning views of the forest and Lac Ouareau. The lookout point is just one-kilometre from the parking lot, but you can extend your hike to a scenic four-kilometre loop.</p><p>Dogs are welcome, so you can enjoy the fall beauty with your furry friend by your side!</p><p><a href="https://lanaudiere.ca/fr/activites-lanaudiere/plein-air/randonnee/mont-sourire/" target="_blank" rel="noopener">Lanaudière Website</a></p><h3>Tyroparc</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CF2cwRRHlUt/?utm_source=ig_web_copy_link" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<a href="https://www.instagram.com/p/CF2cwRRHlUt/?utm_source=ig_web_copy_link" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top" rel="noopener">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Cost: From $80 per adult for the four mega-zip lines</p><p>Address: 400, ch. du Mont Catherine, Sainte-Agathe-des-Monts, QC</p><p>Why You Need To Go: Just an hour and a half from Montreal, Tyroparc lets you zipline over a stunning, multicoloured forest that'll be fully decked out for fall. Gliding through the crisp fall air with those sweeping mountain views will give you an unforgettable experience. Just don't close your eyes, you won't want to miss this!</p><p><a href="https://www.tyroparc.com/accueil/" target="_blank" rel="noopener">Tyroparc Website</a></p><h3>Verger du Flanc Nord</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CGiiILInAED/?utm_source=ig_web_copy_link" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<a href="https://www.instagram.com/p/CGiiILInAED/?utm_source=ig_web_copy_link" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top" rel="noopener">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Cost: Free admission, price of apples varies</p><p>Address: 835, ch. Rouillard, Mont-Saint-Hilaire, QC</p><p>Why You Need To Go: Apple picking has never felt more picturesque than at Verger du Flanc Nord. With its charming farm animals, ponds, willow trees, apple orchards, and pumpkin patches, it looks like something straight out of a fall-themed dreamland. Plus, the vibrant autumn colours here are absolutely breathtaking.</p><p><a href="https://www.facebook.com/profile.php?id=100061829298795" target="_blank" rel="noopener">Verger du Flanc Nord Facebook page</a></p><h3>Chocolate Mountain trail</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CjLbwehr5pq/?utm_source=ig_web_copy_link" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<a href="https://www.instagram.com/p/CjLbwehr5pq/?utm_source=ig_web_copy_link" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top" rel="noopener">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Cost: $7.83 per adult for a day pass</p><p>Address: 300, rte du Massif, Saint-Philémon, QC</p><p>Why You Need To Go: In autumn, the Chocolate Mountain trail promises a feast of colour that you won't want to miss. The four-kilometre hike (eight kilometres round-trip) with a 380-metre elevation might be a bit of a challenge, but the golden payoff at the top is absolutely worth it.</p><p><span></span><a href="https://massifdusud.com/" target="_blank" rel="noopener">Parc du Massif du Sud website</a></p><h3>Mont Cayamant Fire Tower</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CVNmo3Errw_/?utm_source=ig_web_copy_link" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<a href="https://www.instagram.com/p/CVNmo3Errw_/?utm_source=ig_web_copy_link" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top" rel="noopener">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Cost: Free admission</p><p>Address: Mont Cayamant, Cayamant, QC</p><p>Why You Need To Go: In the Outaouais region, around three hours from Montreal, you'll find an impressive observation tower with 125 steps that offers a breathtaking 360-degree view of the forest below, bursting with orange, yellow, and red hues. The climb is definitely worth it for the panoramic fall colours (and for your step count!).</p><p><a href="https://www.cayamant.ca/index.php/touristes/attraits-touristiques/2-cayamant/206-mont-cayamant" target="_blank" rel="noopener">Mont Cayamant Website</a></p><h3>Sentier des cimes Laurentides</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CjMOZilL05S/?utm_source=ig_web_copy_link" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<a href="https://www.instagram.com/p/CjMOZilL05S/?utm_source=ig_web_copy_link" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top" rel="noopener">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Cost: $31 per adult for a day pass, or $25 with a student card</p><p>Address: 737, rue de la Pisciculture, Mont-Blanc, QC</p><p>Why You Need To Go: Rising above the forest in Saint-Faustin-Lac-Carré, this easy hike to the top of a massive 40-metre observation tower offers stunning views of this iconic Laurentides landscape, especially during fall. It's a must-see this autumn for those looking to soak up the region's vibrant colours.</p><p><a href="https://treetop-walks.com/laurentides/" rel="noopener noreferrer" target="_blank">Sentier des cimes Laurentides Website</a></p><h3>Mekinac Trail in La Mauricie National Park</h3><br/><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/CV2sE3qLTj6/?utm_source=ig_web_copy_link" data-instgrm-version="4" style="background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:658px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);">
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<div style="background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAAGFBMVEUiIiI9PT0eHh4gIB4hIBkcHBwcHBwcHBydr+JQAAAACHRSTlMABA4YHyQsM5jtaMwAAADfSURBVDjL7ZVBEgMhCAQBAf//42xcNbpAqakcM0ftUmFAAIBE81IqBJdS3lS6zs3bIpB9WED3YYXFPmHRfT8sgyrCP1x8uEUxLMzNWElFOYCV6mHWWwMzdPEKHlhLw7NWJqkHc4uIZphavDzA2JPzUDsBZziNae2S6owH8xPmX8G7zzgKEOPUoYHvGz1TBCxMkd3kwNVbU0gKHkx+iZILf77IofhrY1nYFnB/lQPb79drWOyJVa/DAvg9B/rLB4cC+Nqgdz/TvBbBnr6GBReqn/nRmDgaQEej7WhonozjF+Y2I/fZou/qAAAAAElFTkSuQmCC); display:block; height:44px; margin:0 auto -44px; position:relative; top:-22px; width:44px;">
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<a href="https://www.instagram.com/p/CV2sE3qLTj6/?utm_source=ig_web_copy_link" style=" color:#000; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none; word-wrap:break-word;" target="_top" rel="noopener">See on Instagram</a>
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</blockquote><script async="" defer="" src="//platform.instagram.com/en_US/embeds.js"></script><p>Cost: $8.50 </p><p>Address: Parc national de la Mauricie - Chemin de Saint-Jean-des-Piles, Shawinigan, QC</p><p>Why You Need To Go: The floating boardwalk on the Mekinac Trail, nestled in the heart of La Mauricie National Park, is a fall dream come true. You'll get to admire the vibrant autumn leaves while feeling like you're walking on water. What more could you ask for?</p><p><a href="https://www.pc.gc.ca/fr/pn-np/qc/mauricie" target="_blank" rel="noopener">Parks Canada Website</a></p><p><em>Before you get going, check out our <a href="https://www.mtlblog.com/responsible-travel-guidelines" target="_blank" rel="noopener">Responsible Travel Guide</a> so you can be informed, be safe, be smart, and most of all, be respectful on your trip.</em></p><p><em><em><em><em>This story was adapted from the article "<a href="https://www.narcity.com/fr/couleurs-autome-quebec-meilleur-endroit">11 endroits au Québec où les couleurs t’en mettront plein la vue cet automne</a>," which was originally published on Narcity Québec by </em></em></em></em><em><em><em><em>Françoise Goulet-Pelletier.</em></em></em></em></p>
Pictured is a Alberta Wildfire response officer. Photo by Ian Kucerak/Postmedia Residents of Saprae Creek east of Fort McMurray have been put on an evacuation…
