2015 Bowen Island/Gulf Islands Sales Stats

[JimmyWW]

More thoughts from me (I find it tough these days to find the time to post, but here goes...)

- one listing which had been on with various price drops for over 2.5 years has finally sold for below 899K, having been on at $1.299 mil when originally listed. This sale price was at least $50,000 *below* assessment.
- another listing remains on the market at 1.049m, having been on and off the market since 2007, more or less;
- still another has just had a price drop from 899K to 885K, bringing it to within 25% of its assessed value of $752K. this property last changed hands for $840K just over two years ago.

Elsewhere and less depressingly for sellers, at least, there is strong evidence of what more than one realtor has given as the reason for the high number of sales on the island - fair pricing. 921 Elronds, as one example, is listed at $799000, just 5% over its assessed price of $745,000.

As evidenced in my previous post, though, there are still a number of examples of Disneyland pricing of more than 50% over assessment. And guess what? it's the fairly-priced homes that are selling, along with one or two of the "million-plus" category.

Inventory has crept up a little since the start of June. I will continue to follow the rest of the summer market with interest.

Jimmy