“But My BC Assessment Says…” a phrase we hear often and understandably so. BC Assessments offer a useful reference point, but they don’t always align with what’s happening in the market right now.
In this post, we’ll look at this month’s closed sales, comparing sale prices to BC Assessment values.
997 Goddard Road, Gibsons, BC – $925,000
2 Bed | 2 Bath | One-Level Living – Parkland, Gibsons
A 30-minute drive past Sechelt, you will find Pender Harbour, a waterfront community known for its roots in fishing. Today, this beautiful community is home to many long-term residents and cabin goers who love the natural beauty of the Sunshine Coast. Throughout the pandemic, buyers have been looking in communities such as Pender Harbour for their perfect getaway home. This past June 2021, home prices were steady after several large final sale price increases this past spring.
This past June 2021, detached homes in Pender Harbour sold for an average price of $766,100, a 0.4% increase from May, yet a 43.3% increase from last June, which sold for an average price of $534,700. Although the majority of homes in the area are detached homes and land, the average final sale price for all residential properties in the area including, townhomes and condos, was $750,700, a 43% increase from last year, which sold for an average price of $524,800.
Halfmoon Bay possesses some of the most breathtaking beaches, parks, and trails on the Sunshine Coast. The unique beauty of Halfmoon Bay has brought homebuyers in over the years and more recently, the past year which has led to an increase in final sale prices in the area. Discover how the past year has affected final sale prices in the area.
This June, detached homes in Halfmoon Bay had an average selling price of $830,100, a 0.2% decrease from May, however, a 38.9% increase from last June. Although there are few townhomes and condos in Halfmoon Bay, the overall average final sale price for all residential properties in the area was $825,900, a 38.8% increase from last June 2020.
As prospective buyers invest in their dream home outside the busy neighbourhoods of Vancouver, many continue to search in the artistic and vibrant town of Roberts Creek. With large properties on acreages among the lush trees of the Sunshine Coast, housing prices in the area have seen a significant increase over the past year. Although, prospective buyers looking for their small and perfect townhome or condo in Roberts Creek won’t have any luck as the neighbourhood is home to land and detached homes, offering a feeling of seclusion that many are in search of.
Although Roberts Creek is a small town with under 5,000 residents, the prices for detached homes in the area are some of the most expensive on the Sunshine Coast. This June, detached homes in Roberts Creek had an average selling price of $982,200, a 44.4% increase from last June. Despite the overall higher price for a detached home in Roberts Creek, homeowners have the luxury of large lots with plenty of indoor space.
As the Metro Vancouver housing market continues to normalize after several record months, we continue to experience high listing and sale activity throughout this past June. The benchmark price for residential housing on the Sunshine Coast this past June was $801,000, a 0.4% decrease from May 2021 yet a 35.8% increase from last June. Homebuyers continue to search for homes away from Vancouver city life in the quieter neighbourhoods of the Sunshine Coast.
This past June 2021, detached homes in Gibsons had a final sale price of $905,500, a 1.4% decrease from May 2021 but a 40.1% increase from last June 2020. One prominent reason for this overall large price increase in single-family homes in Gibsons is due to Vancouver residents relocating and investing in properties outside the city.
There are few attached homes currently in Gibsons however, the options available for homebuyers are more affordable than many options throughout the Lower Mainland. Townhomes in Gibsons had an average final sale price of $625,800, a 29.4% increase from last June. Apartments in Gibsons had an average sale price of $418,900, a 20.2% increase from last year.
For the full report on June 2021 Statistics on Great Vancouver Real Estate, including the Sunshine Coast, please click here.
The heavy flood of activity in the Metro Vancouver housing market is attributed to low interest rates, increased household savings, and high demand for space. With plenty of space on the Sunshine Coast including communities such as Roberts Creek, there has been a high demand for housing in the area. Take a look at how the high demand has impacted the final selling prices of properties in the Roberts Creek community.
This March 2021, residential properties in Roberts Creek had an average selling price of $884,100, a 34.8% increase from last March, which had an average selling price of $655,900. More specifically, detached homes in Roberts Creek this March had an average final sale price of $885,000, a 34.7% increase compared to last year’s $657,000 and a slight 3.7% increase from last month.
With Pender Harbour being a one-of-a-kind community surrounded by beautiful nature, home buyers are becoming increasingly more interested in purchasing their next home here, creating a high demand and with a low inventory and therefore rising home prices. That being said, Pender Harbour homeowners who were thinking of selling their Sunshine Coast home, now may be a perfect time. Check out how the Pender Harbour housing market has changed over the past year.
Pender Harbour has seen the largest price increase over the past year on the Sunshine Coast with a roughly 3% higher increase compared to other communities on the Coast. March 2021, residential properties had an average final sale price of $685,100, a 37.7% increase from last March with an average selling price of $497,600. Detached homes in Pender Harbour in March 2021 had an average selling price of $697,000, a 37.4% increase from last March with an average selling price of $507,300.