Happy New Year!
Below are stats form Vancouver Island Real Estate Board(VIREB). Prices have been falling for the last couple months in the North end,(-4% in December), but the last 3 years and you can see there has been a nice increase in average sale of single family homes. So although prices have been going up for the last 3 years, we have likely seen the peak and prices are starting to come down or stabilize. As a REALTOR® I have access to tools and market analytics that are valuable when evaluating properties. That paired with local market knowledge allows me to determine an optimal price for real estate. Please contact me if you are interested in the selling or purchasing here in Gold River or North end of the island. If you are curious about other markets on Vancouver Island I can compile that information for you as well. Take Care~ Dawn Dakin 250 203 6512
As you can see from the chart below, most of the areas on Vancouver Island are showing a decrease in number of sales. What you should note is that if you are looking at the Gold River market, you will need to look at the last line. Our zone(Zone 7) is not represented because we don’t have enough sales to have our own stats, so we are represented in Board Totals. You will see that Unit Sales have decreased by 7%. You will also see that Average Sale Price has increased by 4%. It is my opinion that Gold River is still attractive to outsiders because the housing is still very affordable and if I’ve said it once I’ll say it a thousand times…Gold River is paradise! With our pristine rivers and lakes, our fresh air and our clean drinking water. Who wouldn’t want to be here!
Please keep me in mind when looking to work with a realtor in the Gold River or Campbell River area. Take Care~
You could look at the stat sheet and think…Well that isnt too encouraging average sale prices seem to have dropped in 2018. Well this picture as with most doesn’t tell the whole story. In 2018 we sold more properties in the lower price point, and here is the breakdown
2017 YTD(Jan-Oct31) There were 33 properties SOLD: for a total of $4,464,000.00. 7 of these were below the 100k threshold for a total of $588,000.00
*26 at an average of $172k
* 7 at an average of $ 84k
2018 YTD(Jan-Oct31) There were 30 properties SOLD: for a total of $3,594,000.00. 10 of these were below the 100k for a total of $363,000.00
*19 at an average of $189k
*11 at an average of $ 33k
When we talk about the majority of properties sold being single family houses. We actually have seen an increase in price from $172k in 2017 to 189k in 2018, which is an increase of 9%
If you would like to discuss this information or if you have any other real estate related questions, I’d be happy to talk to you. Contact me at 250 203 6512 OR dawn [dot] dakin [at] century21 [dot] ca