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Sunshine Coast, BC - Its collapsing real estate market.
12-27-2013, 01:54 PM,
#8
RE: Sunshine Coast, BC - Its collapsing real estate market.
There are land sales to report.

After a number of years on the market, the 173 acres listed under DL7255 Mount Richardson Rd have sold (see post #3 above). I guess a little freshening up with new look and listing address was all it needed; so, congratulations to the long suffering previous owner.

There was a bit of loss on the sale. Originally listed for $5,200,000 early in the year, the price was dropped to $4,950,000 with the October relist. The property moved at $4,200,000. That $1mill drop from the earlier list works out to -19.2%.

It will be interesting to see what happens to these lands. Was the buy purely speculative or is there something in the works like...a new hotel? Let's see, a decade ago everyone was building resorts with spas. Ten years later, we're getting hotels with a condo residence or conference facility component. I guess we'll just have to wait with bated breath.

Two other small parcels moved in the last few weeks. Lots 15 & 16 Crowston Rd mentioned above in post #2. Both 4.9 acres lots carried a listing price of $499,900 and both sold for $350,000 each likely to the same buyer. That selling price is a -30% drop from the asking price.
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RE: Sunshine Coast, BC - Its collapsing real estate market. - by Skook - 12-27-2013, 01:54 PM

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