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Real estate sales in January 2024 were considerably higher than those recorded during January the previous year.
“There was an increase in both value and volume, with single-family homes leading the market,” said Powell River Sunshine Coast Real Estate Board president Neil Frost. “The average monthly selling price for single-family homes rose by 3.3 per cent compared to 2023, with the median price increasing by 16 per cent. Nonresidential properties also saw growth, particularly in vacant land sales.”
Frost said overall, the real estate market in
the qathet region experienced robust activity in January 2024, with increased demand and rising prices across various property types.
In the single-family homes category, in January 2024, there were 14 sales, valued at $9,287,050, compared to 10 sales, valued at $6,422,500, in January 2023.
In the mobiles and
manufactured homes category, there were no sales in January 2024 or January 2023.
Condo, apartment and duplex sales in January 2024 amounted to two, valued at $845,000, compared to two, valued at $570,000, in January 2023.
Totals for residentials sales were 16 in January 2024, valued at $10,132,050, compared to 12 in January 2023, valued at $6,992,500.
In terms of non-residential sales, there were three parcels of vacant land sold in January 2024, valued at $540,000, compared to one parcel, valued at $150,000, in January 2023.
Grand totals for residential and non-residential combined were
19 sales in January 2024, valued at $10,672,050, compared to 13 sales, valued at $7,142,500, in January 2023.
The average selling
January 2024 and nine new non-residential listings during the month. In terms of active listings, there were 124 residential listings
Overall, the real estate market in the qathet region experienced robust activity in January 2024, with increased demand and rising prices across various property types.
The average MLS residential price in BC in January 2024 was up 10.5 per cent at $957,909, compared to an average price of $866,922, the low-point for average prices over the past two years, according to BCREA chief economist Brendon Ogmundson.
The total sales dollar volume was $3.8 billion, an increase of 42.9 per cent from the same time in the previous year.
price of a single-family home in January 2024 was $663,361, with an average of 58 days on the market. In January 2023, the average single-family dwelling sold for $642,250, with an average of 99 days on the market. There were 38 new residential listings in
at the end of January 2024, and 55 non-residential listings, for a total of 179 active listings at the end of the month.
According to the BC Real Estate Association (BCREA), there was a 29.4 per cent increase in residential unit sales in January 2024 over January 2023.
“Home sales are on a clear uptrend to start 2024,” stated Ogmundson in a media release. “A sharp decline in fixed mortgage rates and expectations for future Bank of Canada rate cuts is driving sentiment in the market and bringing pent-up demand off the sidelines.”
Neil Frost President, Powell River Sunshine Coast Real Estate Board
OCEANFRONT CABIN AND DOCK ON BOULDER POINT - CORTES ISLAND
SECLUDED RIVERFRONT PROPERTY SOUTHERN VANCOUVER ISLAND
7 acre ocean view lot located at the gateway to Desolation Sound, minutes to Lund on the Sunshine Coast. Road accessible with power available. No building permit process required. Limited availability with only 4 lots being released in this second phase. $499,000
CUSTOM TIMBER FRAME HOME ON 12 ACRES - DE COURCY ISLAND
Live your dream in this 1,800 sq. ft. 3 bedroom timber frame home on 12 treed acres on the west side of De Courcy Island. Includes large workshop, gardening area, pond and drilled well. Fully modern off-grid systems assure trouble free home comforts. Don’t miss this rare opportunity NOW $699,000
3.55 acre rural property. 12,314 sq. ft. light industrial building accommodating a wide range of uses. 20 ft ceilings, 3 roll up doors, leveling deck, 400 amp single phase and 100 amp three phase power, 15 gpm drilled well, approved septic and 1,105 sq. ft. of office space. 364 ft of road frontage with a gated paved driveway and parking lot. $1,680,000
in the Wall, Nootka Sound, near Critter Cove, West Coast of Vancouver Island, one of BC’s best fishing areas. Well maintained, fully equipped, furnished and ready to go. Jump in your boat and go fishing. $950,000
Southwest facing 9.82 acre high bank oceanfront property in the Southern Gulf Islands, just off Galiano Island. Drilled well, power on site and approved septic field installed. Shared dock and landing site in Montague Harbour. $399,000
DAVIS BAY BEACHFRONT ESTATE SECHELT, BC
8.68 acre trophy oceanfront situated on Davis Bay on the Lower Sunshine Coast. Walk on beachfront with approx. 600 ft of waterfront. Private estate, family compound or development. Privacy, covered in mature trees, walking distance to amenities. $5,500,000
World class salmon and bottom fishing within a 10 minute boat ride. This floating lodge is located on Union Island in Kyuquot Sound on the west coast of Vancouver Island. Includes 4 guest rooms, 3 bedroom cabin, large dining room, outdoor kitchen area and established fish processing facility catering to guests and other lodges. $995,000
90 acres, 2 titles 1,150 ft oceanfront in Hecate Cove and 1,850 ft lakefront on Colony Lake in Quatsino on the west coast of Vancouver Island. Road goes through property. May have subdivision potential. Substantial mature timber, some cedar, no estimate of volume. NOW $1,500,000
6.92 acres with 756 sq. ft. cabin and 40 ft dock providing deep water moorage. 3 minutes by boat from Squirrel Cove government wharf and general store on Cortes Island. Easily accessible and located right in world renowned yachting destination Desolation Sound. $759,000
ACRE
300 ft of low bank waterfront with 2,761 sq. ft. log home featuring vaulted ceilings, large country kitchen and 3 bedrooms with en suites. Fenced backyard has workshop, garage, woodshed, plunge pool, gardens and gated stairway leading to the beach. Stunning views of Hornby Island and Lambert Channel. $1,300,000
8.35 acres of gently sloping land with approx. 1,300 ft of Lake Frontage. Crown lease is in place with a 10 year term commencing Nov 9, 2022. Property is improved with 5 well-appointed, self-contained, cedar cabins, outbuildings, dock and floating sundeck. $299,000
This offering comprises two spectacular oceanfront lots, each with a private dock and drilled well, allowing for two homes per lot. Includes a private beach and RV for living during construction. It’s an ideal opportunity for a private estate or group purchase. $1,499,999
147.7 acres with 3,200 ft of frontage on the Koksilah River on southern Vancouver Island. Perfect for the outdoor enthusiast seeking to build an off the grid cabin to hike, fish, quad, prospect and hunt. Enjoy the convenience of being just 30 minutes away from Shawnigan Lake. $899,000
MUSGRAVE LANDING HOME AND MOORAGE - SALT SPRING ISLAND
Oceanfront property with custom 3 bedroom, 2 bathroom home, separate studio / guest cabin. Private marina, moorage at your doorstep. Road accessible with services. Ideally situated in the Southern Gulf Islands with easy access to Vancouver Island. $1,250,000
144 acres on Porcher Island with 2,000± ft of southern exposed oceanfront near Oona River. Includes main house, 6 guest cabins with revenue potential, shop and boat house; all serviced by power, water and septic. Large list of machinery and equipment available at an additional cost. $1,500,000
OCEANFRONT HOME AND DOCK JERVIS INLET - HARDY ISLAND
Situated on 4.94 acres with 850 ft of low bank waterfront, this is an opportunity for waterfront living and recreation. With well-appointed main home, additional building site, two beaches, private dock and robust power and water system, it’s a paradise for outdoor enthusiasts. $1,189,000
Total real estate sales in the qathet region for 2023 were substantially less than those recorded in 2022.
“Overall, 2023 was down from 2022 in both overall dollar volume, homes sold and number of listings,” said Neil Frost, president of the Powell River-Sunshine Coast Real Estate Board (PRSCREB).
“Prices were also down from the historic highs of 2022.
“If you look at the statistics that have PRSCREB prices down four to five per cent, that does not tell the whole story. When you look at the benchmark
prices of say your average family homes, prices are down significantly. The homes that were selling for say, $650,000, are now selling for around $600,000, or less in some cases. So, it’s good news for buyers who have been waiting for prices to come down.”
Frost said for sellers, while sale prices are down, the region is still at historically high prices, just not at the heights reached in the peak of 2022.
“We also saw homes for sale under $500,000 and even $400,000 in 2023; prices unheard of in 2022,” said Frost. “Of note, the price of new homes stayed about the same.”
According to yearend statistics from the local real estate board, in single-family residential sales, there were 194 in 2023, totalling $140,341,051, compared to 249 in 2022, totalling $183,614,240.
In the mobile and manufactured home category, there were 25 sales totalling $5,978,300 in 2023, compared to 31 sales totalling $8,678,954 in 2022.
For condos, apartments and duplexes, there were 36 sales in 2023, totalling $15,270,100, compared to 43 sales in 2022, totalling $20,386,150.
Totals for residential sales were 255 in 2023, totalling $161,589,451, compared
to 323 in 2022, totalling $212,688,150.
On the non-residential side, there were 43 parcels of vacant land sold in 2023, totalling $12,321,599, compared to 97 parcels in 2022, totalling $32,031,900.
In the industrial, commercial and institutional category, there were 10 sales in 2023, totalling $4,587,970, compared to 18 sales, totalling $6,223,536, in 2022.
Totals on the non-residential side indicate 53 sales in 2023, totalling $16,909,569, compared to 116 sales in 2022, totalling $38,255,436.
Grand totals for residential and non-residential indicate 308 units sold, totalling $178,499,020 in 2023,
compared to 439 units, totalling $250,943,780 in 2022.
The average single-family home in 2023 sold for $723,407, with an average of 68 days on the market. The average price in 2022 was $737,407, with an average of 36 days on the market. The median selling price in 2023 was $635,000, compared to $660,000 in 2022.
In 2023, there were 553 new residential listings for the year, down from 582 in 2022. On the non-residential side, there were 150 new listings in 2023 and 184 in 2022. Grand totals show 703 new listings in 2023 and 766 in 2022.
In terms of the buy-
er and seller profiles, 79.6 per cent of sellers were local residents. Of those who were selling, 60.2 per cent were parting with their primary residence.
Frost said 38.5 per cent of sellers are moving into long-term care or estate sales, suggesting a demographic shift.
In terms of buying statistics, 45.3 per cent were local in 2023 and 54.7 per cent were out of area. Of those buying, 75.8 per cent were purchasing for a principal residence.
“Overall, the statistics demonstrate a balance between local and non-local participation,” said Frost, “in both selling and buying.”
had the most knowledge and expert opinion of the market. Max showed us patience as it took us a few years to be in the proper position and find the right fit.
DEVELOPMENT OPPORTUNITY! This large, level building lot is fully serviced and centrally located (86’ x 157’). Zoned R2 Single Family and Duplex opportunity knocks for a single family home with suite and carriage home, or ideal duplex.
4315 JOYCE AVENUE $234,900 MLS®17729
DEVELOPMENT POTENTIAL!! This exciting infill subdivision in Westview is a rare find. Solid four bedroom bungalow is move-inready, with a level yard and detached double garage with power. Rent out the house and start subdividing two lots off of the back!.
5011 MANSON AVENUE $599,900 MLS®17801
GET READY FOR SUMMER! Powell Lake float home has plenty of docking space, a utility shop on its own float, complete with woodfired hottub, a 30’ x 35’ fenced back patio, massive front deck and ramps, floats and breakwater.
10975 POWELL LAKE $250,000 MLS®17714
Listed by Josh Statham - 460 Realty
MOVE-IN-READY! Stylishly remodeled with high-end upgrades, this two-story half-duplex has so much to offer. Main-level-entry home on a private pan-handle lot has full yard access with recently upgraded driveway, attached carport, storage shed, privacy hedge.
4555A MICHIGAN AVENUE $649,900 MLS®17672
Listed by Josh Statham- 460 Realty
BRAND NEW HOME $319,900 + GST! Believe it. Rocky Valley on Texada Island is now offering a brand-new home in the first phase of this exciting Gulf Island Development. Main-level-entry home is nearly 700 sq ft with an open concept plan, and a roof top deck!
RVE 9-1947 BLUBBER BAY $319,900 MLS®17571
Listed by Josh Statham - 460 Realty
Stylish rancher provides the ease of single-level living, fenced level yard, attached double garage and desirable open concept plan. Spacious kitchen offers ceiling height cabinets, stainless appliance and large island, and the dining room is surrounded by windows and natural light.
7365 GLACIER STREET $714,900
4691 TANNER AVENUE $869,900 MLS®17750
Listed by Josh Statham - 460 Realty
LIVE YOUR LAKEFRONT DREAM. This custom-built home on the shores of Cranberry Lake boasts 4,500+ square feet, convenient main-level entry with walk-out suite on a wide quarter-acre lot. This home is full ICF for the utmost in efficiency. The great-room features chef’s kitchen, formal dining and cozy living room with fireplace.
Listed by Josh Statham - 460 Realty Listed by Josh Statham - 460 Realty Listed by Josh Statham - 460 Realty 7050 CRANBERRY STREET $1,569,900 MLS®17721 Listed by Josh Statham - 460 Realty ACREAGE & TWO HOMES! Located in the desirable Myrtle Creek area, just a few minutes south of the municipality and near trails, market gardens and beaches, this beautifully developed 1.2 acre corner lot features two homes. The main home is level entry with a massive over-height rec room and country kitchen. 3047 BRADFORD ROAD $1,199,900 MLS®17643 Listed by Josh Statham - 460 Realty 7032 CRANBERRY STREET $1,139,9000 MLS®17767 Listed by Josh Statham - 460 Realty NO GST! Th remarkable semi-detached rancher offers quality for easy-care living. From the natural stone detail at the entrance to the underground power lines and efficient heat pump with AC, this home is designed to impress. 4048 SATURNA AVENUE $769,900 MLS®17731 Listed by Josh Statham - 460 Realty 4058 Saturna Ave exceeds the building standards of today’s new homes. Lifetime roof warranty, Step code 3 certified-superior energy efficiency, upgraded insulation, and heat recovery ventilator system are just a few of the many enhancements you will find with this semidetached 3 bedroom plus bonus room home. 4060 SATURNA AVENUE $849,900 MLS®17679
INVESTOR ALERT! Prime commercial property is a must see. The level quarter-acre lot (68’ x 150’) offers room for development. An 800+ sqf bungalow recently updated, with 3 bedrooms, and currently provides traveller accommodation at over $3,000/mth.
4460 JOYCE AVENUE $349,900 MLS®17796
Listed by Josh Statham - 460 Realty
CENTRAL ACREAGE. This turn key main-level-entry home is situated on a level one-acre lot in Central Westview. This property has development potential, and is currently zone R2 (single and two family), or makes an excellent home for anyone in search of a shop, parking or storage.
4532 MANSON AVENUE $799,900 MLS®17651
Listed by Josh Statham - 460 Realty
1.35 acres at the dead end of Boswell Street in Central Westview, currently zoned R2 (single and two family). The property has been cleared with great access and services on the street, ready for a new in-fill subdivision. The adjoining lot is also listed for sale.
7151 BOSWELL STREET $1,199,900 MLS®17724
Listed by Josh Statham - 460 Realty
CENTRAL DEVELOPMENT PROPERTY! 1.35 acres at the dead end of Boswell Street in Central Westview, currently zoned R2 (single and two family). The property has been cleared with great access and services on the street, ready for a new in-fill subdivision. Power will be run to the lot soon.
LOT 12 BOSWELL STREET $799,900 MLS®17725
Listed by Josh Statham - 460 Realty
7355 LAZO STREET $749,900 MLS®17653
Listed by Josh Statham - 460 Realty
This seaside estate overlooks Myrtle Rocks just 5-minutes south of the city of Powell River. Brand-new custom-built home is main-level-entry, with a vibrant open great room, spacious view deck, main-level master with guest rooms upstairs and a fully-contained two bedroom walk-out suite downstairs.
8447 HIGHWAY 101 $2,249,900 MLS® 17747
Listed by Josh Statham- 460 Realty
WALK-ON WATERFRONT! This spectacular beachfront home is set on a large, private walk-on waterfront lot. Main-level-entry home offers open concept plan, with three bedrooms upstairs and a full basement, plus RV pad on an expertly landscaped seaside estate.
8745 PATRICIA ROAD $2,199,900 MLS® 17770
Listed by Josh Statham- 460 Realty
This three-parcel land assembly on a quiet side road in Cranberry is comprised of three separately titled R2 (Single and Two-Family) lots.
Lot B has 95’ of frontage on Drake Street with 132’ flanking a side lane with further road dedication. Lots C and D are both 66’ x 145’.
LOT B, C, D DRAKE STREET $399,900 MLS®17799
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only Single game tickets are available for purchase at the door on game day.
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callout to the many buyers looking in our area. Call or text me for a market evaluation.