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Home Values and Sales Data 2000-2012
03-14-2013, 01:50 PM, (This post was last modified: 03-14-2013, 02:03 PM by Skook.)
#3
RE: Home Values and Sales Data 2001-2008
Thanks, ant. I am not able to offer a breakdown like the above for 2009 - 2013. However, I have managed to pull together a few charts from various sources I found yesterday that show the benchmark price for sales on the Sunshine Coast.

[Image: attachment.php?aid=50]

You will notice from the first two rows that the benchmark has been falling as well as the number of sales. The last row show that current total listings inched up in February and this could jump in March since historically that is when the "For Sale" signs come out. This coupled with the last sales figures for February (below) should lower prices further, I would think.

[Image: attachment.php?aid=51]

Now, here is how I interpret current house prices on the SC. New detached homes in developments away from the water in Sechelt and Gibsons hover around $350,000. Older homes (25+ yrs), again away from the water are dropping in price - some below $300,000. Homes with a water view will average $500,000 - $800,000. Homes on the water are $1,00,000 plus depending on lot size, home age and locale.

In Sechelt, new developments started in 2009-10 are definitely in trouble. As a result, a developer in Gibsons isn't even bothering to build spec homes. It is called 'Parkland' and it has been zoned for single family, duplex, and cluster. The cluster lots have been sold. The duplex lots are priced at $199,000 and the single family lots were $169,500 but have dropped to $149,500. The Realtor description for these lots is very interesting. (http://www.terrimurphy.ca). Click on 'Our Listings' and look for the lots on Gerussi, Woodsworth and Wright.

A new town house development in Gibsons is in serious trouble. It is called 'Island Vista' and is at 666 Crucil Road. There are 8 townhouses built in two blocks of 4 units. It looks like one end unit in each block was pre-sold and the remaining six units remain empty. They are priced at $395,000 - $399,000 and are listed with Royal Lepage.

A new waterfront development in the heart of Sechelt under construction and this could be really interesting. Called 'Watermark at Sechelt', it will be located between Trail Ave and Inlet Ave south of Toredo St. it has two complexes each 6 stories high and both with commercial space on the first level and 52 condos spread over the remaining 5 levels. Phase 1 has 26 units sold (50%) and Phase 2 has 16 sold (31%). There are now 14 units listd with Royal Lepage and here is an example of the pricing.

[Image: attachment.php?aid=52]

Here is what the complex looks like and a sampling of the units.

[Image: attachment.php?aid=53]

I was reading recently a piece in the Vancouver Sun that said building codes are now allowing windowless bedrooms if the complex has alarms and sprinkler systems. I put in Unit 310 above because it looks like that second bedroom has no windows. The price for that unit is $339,000.

Now, if you are willing to move up to Pender Harbour you might get a bargain. Prices have not recovered since the 2008 drop and developments like Farrington Cove, Whittakers, Pender Harbour Landing and Sakinaw Ridge have all but rolled over and died. Below is an example of a spec home listed in July 2008 that never sold and its 2013 listing is on the right. I am going to be preparing more in depth posts down the road on what has happened in the Harbour.

[Image: attachment.php?aid=54]

You can find a list of all the SC realty offices here (http://www.coastlistings.ca). Click on Sunshine Coast for the list. You can download a .pdf of their listings by clicking on each realty office. Or, you can search for each office to find their websites - just add Sunshine Coast after their name.


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Messages In This Thread
Home Values and Sales Data 2000-2012 - by Skook - 03-12-2013, 04:10 PM
RE: Home Values and Sales Data 2001-2008 - by ant - 03-12-2013, 07:39 PM
RE: Home Values and Sales Data 2001-2008 - by Skook - 03-14-2013, 01:50 PM

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