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Market Analysis

Current Market Conditions

Copyright, Li Read, 2021

July, 2021.

Seaside chairs
Suddenly, here we are at the very beginning of July.

This is now “real summer” and it’s a short season...lots to see & to do & to enjoy on Salt Spring Island and the Gulf Islands...always good to be a visitor in one’s home area...to remember why one chose a particular island (as a sometime destination and also as a permanent address).

These Gulf Islands are very special areas.

Ganges Harbour
Nothing is ever absolutely perfect, of course, but many describe Salt Spring and the Gulf Islands as practically perfect.

Salt Spring offers a year round lifestyle (a hospital, three elementary schools, a senior school, three different regular ferry routes, regular sked floatplane service, indoor pool, theatre/arts space, and so on...very easy to go places, but one doesn’t “have to”.

So, what’s happening in the real estate market on Salt Spring at this very beginning of July?

View from dock
There are 48 residential listings, not separating out waterfront, view, townhome...just residential. 26 of the residential listings are between 299,000 and 998,000. Of these, 5 are not yet built. There are 13 listings between 1.149,500 and 1,950,000. There are 5 listings between 2,190,000 and 2,780,000. There is one listing at 6,688,800. One listing at 12,000,000 and two listings at 14,000,000.

There are 34 land listings. Again, not separating out waterfront, view, lot, acreage...just undeveloped land. 27 of the land listings are between 232,500 and 995,000. There are 5 listings between 1,199,000 and 1,395,000. There is a listing at 2,150,000 and another at 2,495,000.

There are 3 commercial listings (2 business only and one land/business...listed between 149,000 and 980,000).

Sailboat at dock
There have been 162 “solds to date”. There have been 116 sales between 199,000 and 979,000. There have been 37 sales between 1,003,000 and 1,985,000. There have been 5 sales between 2,200,000 and 2,950,000. There was a sale at 3,150,000. There were 3 sales between 5,380,000 and 5,850,000. Most of these upper tier sales were residential and one was commercial.

The listing inventory remains shockingly low. Most owners do not want to be sellers, which means little new comes onstream to replace the steady sales. It is interesting that all price ranges are finding their buyer. There have been bidding wars, although lately it appears that this has settled down and many properties are selling at list price. Please call me re further information on sales.

Government pauses to suppress covid’s spread did cause hesitations in the market, at various points. Between March 29 and June 15, all BC. residents were encouraged not to travel out of their health jurisdiction, and only essential travel was allowed. As of July 1st, intra-provincial travel will be allowed. The reopening of the U.S.-Canada border may be soon. Stay tuned.

goat and sheep
July is true summer. Although some events remain cancelled or are online for a second year, many lovely island venues are now open for your pleasure.

July begins an easing of many covid restrictions. Summer promises a more connected way of living. At last.

What will you do to give yourself the gift of summer? Yes: swimming, hiking, kayaking, paddle boarding. Yes: dining on decks and patios, catching live music venues, gardening. Yes: reading a fat summer book. Yes: wine tastings, cider tastings, craft brewery tasting. Yes: starwatching. Yes: simply taking time to do absolutely nothing.

Fulford Kids love the last day of school, with its promise of two months for their summer holidays. Adults need a “time out”, too, and in this always on digital universe, perhaps we need to discover our “off button”...the adult version of “school’s out”?

Remember your Omar Khayyam: “the bird is on the wing”. Welcome July.

Tel: 1-250-537-7647
E-Mail: LiRead33@Gmail.com

2020 MLS Medallion Award


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  • Contact Li Read at Sea to Sky Premier Properties (Salt Spring), 4 - 105 Rainbow Road, Salt Spring Island, BC, V8K 2V5; Direct Tel: 1-250-537-7647