While real estate sales have started to increase in urban centres over the last few months, there's no sign of recovery in the market for recreational properties in B.C.'s Thompson region.

The allure of owning a lakeside property is easy to see but with a slumping economy it's the kind of dream purchase that often gets put on hold.

"Recreational property is the kind of purchase that is easily delayed in a time of economic uncertainty and so the recreational market in the province will take a bit longer to rebound," said Cameron Muir of the Real Estate Association of B.C.

The slump in recreational properties has been dramatic.

Rudy Nielson, an analyst for Landcor Data Corporation, says markets for vacation properties are down 50 per cent across British Columbia.

"If you're selling vacant land and if you're not in the $300,000 or less range -- which covers 85 per cent of the market -- you are not going to be selling land," said Nielson.

But one group of developers at B.C.'s Nicola Lake, north of Merritt, is trying something different to kick-start sagging sales.

On May 30, developers will sell five properties at an unreserved auction. That means the best bid takes the property.

Nicola Lake property owner Dianne Woodward says it's a sign of the times.

"There's been some of the lots that for the last six months haven't sold," said Woodward.

The developer admits there is a risk of having to sell the properties at below market value.

"Absolutely and that's why it's interesting to some buyers," said Frank Rizzardo. "They're looking for a deal."

Even with the hit in revenue, Rizardo's unique selling technique may bail him out of larger problems.

The decline in overall revenue in the province's recreational property market has forced about a dozen B.C. recreational property developments into bankruptcy in recent months.

It may be a tough time in the market, but for people who follow the business it can also be a great opportunity.

"There are many bargains out there," said Cameron Muir.

With a report from CTV British Columbia's Kent Molgat