Quick answer The 2026 Ontario boat market is steadier than anything we have seen since the COVID surge. Inventory is back on dealer lots, prices have stopped climbing, used-boat values have corrected, and the federal government has announced a proposed repeal of the luxury...
Quick answer
The 2026 Ontario boat market is steadier than anything we have seen since the COVID surge. Inventory is back on dealer lots, prices have stopped climbing, used-boat values have corrected, and the federal government has announced a proposed repeal of the luxury tax on boats over $250,000 (effective November 5, 2025 per the CRA Luxury Tax Notice LTN5 announcement, pending final confirmation). If you have been waiting, this is a more balanced market. Build a quote at mercuryrepower.ca.
The post-pandemic reset is complete
For two years after the 2020 boating boom, Ontario buyers faced a frustrating market: too little inventory, prices at or above MSRP, take-it-or-leave-it dealers. That market is gone.
NMMA estimated U.S. new powerboat retail unit sales dropped roughly 8 to 9% in 2025, following a similar decline in 2024. Not a collapse, a correction back toward pre-pandemic norms after two years of unsustainable volume.
Overall boating expenditure remained strong through 2025. People kept boating and spending on service, parts, and upgrades. They just got more selective on major new-boat purchases.
What dealer inventories are telling you
Industry survey data from the Baird/MRAA Pulse Report: roughly 71% of dealers report new-boat inventory "too high." Service department revenue is the most widely expected growth area for 2026.
"Too high" new inventory is good news for buyers. Selection is back. Dealers are more motivated on pricing.
Used boat prices have pulled back 5 to 10% from pandemic highs.
2026 Ontario boat market ranges
What you'll actually pay for a boat in 2026
Real Ontario CAD ranges by category. New-boat pricing has softened from the 2022 peak. Used pricing has finally normalized. Repower remains the best dollar-per-season deal.
Aluminum fishing boat, 16 to 18 ft new$22,000 to $42,000
Package with 40 to 90 HP Mercury FourStroke and trailer. Range depends on console, electronics, and live well config.
Pontoon, 20 to 22 ft new$38,000 to $75,000
Dual or triple tube with 90 to 150 HP. Mid-range is the sweet spot for most cottage owners.
Bowrider or runabout, 18 to 21 ft new$55,000 to $110,000
Fiberglass with 150 to 250 HP. Tower, upholstery, and audio package drive the upper end.
Used boat, 5 to 10 years old$15,000 to $45,000
Wide range. Hull condition, hours, and trailer matter more than year. Always check compression and lower unit oil.
Repower of an existing hull$12,000 to $24,000
Best dollar-per-season value if the hull and trailer are sound. New motor, new warranty, no boat-shopping required.
Best value path for most buyersRepower if the hull is good
All CAD, pickup only at Gores Landing. Build a repower quote at mercuryrepower.ca.
The segments that matter on Rice Lake
The categories most relevant to Rice Lake (aluminum fishing boats, pontoons, smaller trailerable rigs) are among the most resilient.
The luxury tax on boats is being phased out
You can build a live CAD quote for your repower online at Mercury Repower Centre.
Canada federal luxury tax, introduced in the 2022 budget, applied to boats priced above $250,000. According to Canada Revenue Agency Luxury Tax Notice LTN5, the luxury tax on subject vessels is no longer payable as of November 5, 2025 (per the announced change, pending final confirmation).
If you were looking at a larger package (a loaded pontoon, a premium Legend configuration), that tax is on its way out (pending final confirmation).
Financing is getting more manageable
The Bank of Canada policy rate eased through a series of cuts in 2025. Those cuts are filtering through to marine lending. On a typical $60,000 boat package, even a 1% rate reduction can take $30 to 40 per month off a five-year loan.
The case for 2026 pre-owned
Pre-owned boats typically account for about 80% of all boat transactions in a given year. With prices 5 to 10% below pandemic highs, the 2026 used market is worth a serious look. Every used boat at HBW gets inspected before it goes up for sale. Current inventory at harrisboatworks.ca.
What this means for HBW customers
- Inventory is back. You get to choose.
- Pricing is rational.
- Financing is improving.
- Luxury tax repeal is on its way (pending final confirmation).
We have been on Rice Lake since 1947. The honest take on 2026: it is a buyer market, not a distressed one, just a balanced one.
Stop by Gores Landing, call 905-342-2153, or start a quote at mercuryrepower.ca.
Sources
- Canada Revenue Agency, Luxury Tax Notice LTN5 (luxury tax on subject vessels no longer payable as of November 5, 2025). canada.ca
- NMMA, U.S. new powerboat retail sales (2024-2025 unit data).
- Bank of Canada, policy rate (2025 series of cuts).
Ready to price it out? Build a live CAD quote for your repower online at the Mercury Repower Centre.
Last reviewed: 2026-05-11.
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