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Real Estate Newsletter: Market Activity & Current Events on Gabriola Island.
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Gabriola Island Listings
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Recent Market Activity on Gabriola
Since January 1st, 2018


There are currently 54 MLS residential property listings for sale on Gabriola Island, 25 of these are undeveloped property and 29 are homes. 1/2 acre unserviced lots are starting at $79,000 and homes are currently starting at $269,900. 
Since January 1st there have been 49 sales (31 homes and 18 bare land) plus 8 conditional sales for a potential total of 57 sales. In the same time period in 2017 there were 63 sales.
The number of sales is still very much restricted by the lack of inventory available. 
The total number of sales in 2017 was 169; in 2016 there were 161 sales.
Changes Ahead!

The government is planning to implement new rules proposed by the Superintendent of Real Estate on June 15th, 2018. One of these new rules will ban Dual Agency. Currently, a consumer may opt in or out of Dual Agency, giving consumers the choice of who they want to work with, but as of June 15th they will no longer have a choice. The new rules will greatly impact the real estate industry in rural areas such as the Gulf Islands. We encourage you to learn more about these new rules, especially if you foresee yourself buying or selling real estate in BC in the future, and speak up if you don't want your choice as a consumer taken away from you.
Find out more at
The Real Estate Alliance of BC. Here is a link for sending a Consumer Take Action Email Letter.
Sales Activity in Vancouver Island Real Estate Board Area
 
"In April 2018, the benchmark price of a single-family home in the VIREB area reached $499,600, up 18 per cent from one year ago. (Benchmark pricing tracks the value of a typical home in the reported area.) The benchmark price of an apartment last month rose to $305,300, up 25 per cent board-wide from the previous year, while the benchmark price of a townhouse hit $393,200, a 22 per cent increase from April 2017. Last month, the benchmark price of a single-family home in the Campbell River area climbed to $410,000, an increase of 22 per cent over April 2017. In the Comox Valley, the benchmark price reached $487,100, up 17 per cent from last year. Duncan reported a benchmark price of $444,700, an increase of 17 per cent compared to April 2017. Nanaimo’s benchmark price rose 16 per cent to $537,800 while the Parksville-Qualicum area saw its benchmark price increase by 18 per cent to $562,800. The cost of a benchmark home in Port Alberni reached $282,000, up 24 per cent from one year ago." Read VIREB's full media release here.
Gabriola Activities

The Farmer's Market started up again a couple weeks ago and will run until the Thanksgiving Weekend. 10am-2pm every Saturday at the Agi Hall. 

The
Gabriola Dance Year-End Showcase runs June 9th (1:30pm and 6pm) and June 10th (1:30pm) at the Community Hall, admission by donation.

Gabriola Arts Council's
Cultivate Festival is a twist on the long running Theatre Festival. This year it will feature a combination of Theatre and Music and will take place at the Gabriola Commons August 16th-19th. 


Check out the Community Events Calendar for all sorts of interesting things to do on Gabriola Island.
903 Keith Road - JUST SOLD! Listed at $449,000 - Sold at $464,000.
376 Tinson Road - JUST LISTED at $749,000, Pending Sale.
Thanks for reading! Contact us anytime for your real estate needs!

-Robyn & Carly
Copyright © 2018 The McMahon Group, All rights reserved.


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