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I just Sold – My recent Gulf Island Sales highlight current market

By Howard Sanders • June 20th, 2012

Sales are beginning to pick up on Pender Island. The last 2 months or so have been a busy time for me, both listing new properties and also selling on both Pender and Saturna Islands. If you look at my recent completed sales below, the message is loud and clear – PRICE, PRICE, PRICE!

4704 Canal Road, Pender Island – Offered at $270,000. SOLD April 2012 for $220,000


 

104 Winter Cove, Saturna Island – Offered at $630,000 – SOLD May 2012 for $612,500


7908 Trincoma Place, Pender Island – Offered at $949,000 – SOLD at $850,000


I also have 3  more unconditional sales that I will post later once they have completed  – an unconditional sale being where the subject conditions such as a building inspection etc. have been removed on the offer to purchase, but before payment of funds and transfer of title. These unconditional sales also tell the same story as those above. Generally, list prices are still too high on the Gulf Islands and the above sales clearly show that those sellers willing to negotiate with buyers are those properties which are currently selling.

Are we at the bottom of the market here yet? To be honest I don’t know, and I don’t think anyone can really say with certainty, but there are some tantalising signs that buyers are prepared to put in offers on lower priced recreation properties. This also seems to be a trend Canada wide as you can glean from this recent article:

http://www.cbc.ca/news/business/story/2012/06/18/remax-cottage-report.html

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