Recent Market Activity on Gabriola
Since April 1st, 2017
There are currently 75 MLS residential property listings for sale on Gabriola Island, 47 of these are undeveloped property and 28 are homes. The prices range from $45,000, for a challenging half acre lot with power shed and cistern, to $2,990,000, for a 3500 sqft West Coast home on 6 acres of waterfront with 1400 ft of shoreline.
From April 1st - July 31st there were 68 residential property sales (50 homes and 18 bare land). In the same time period in 2016 there were 78 sales.
Since January 1st there have been 104 sales to date plus 11 subject sales with conditions still to be removed. At this time last year there were 119 sales.
Land sales activity between April 1st-July 31st is as follows:
3 lots sold between $80,000-$100,000;
8 lots sold between $100,000-$200,000;
6 lots sold between $$200,00-$350,000;
1 sold for $465,000.
Home sales activity breakdown is as follows:
1 sale under $200,000;
4 homes sold between $200,000-$299,000;
11 homes sold between $300,000-$399,000;
8 homes sold between $400,000-$499,000;
5 homes sold between $500,000-$599,000;
9 homes sold between $600,000-$699,000;
3 homes sold between $700,000-$799,000;
4 homes sold between $800,000-$999,000;
5 homes sold between $1,000,000-$1,600,000.
Inventory of homes for sale continues to be low and buyer demand continues to be very high. Market values have climbed significantly due to this struggle to find homes for people wishing to buy on the island.
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