Mike Carson

Your local Sunshine Coast Realtor

Cell 604-740-1841

Office (24 hour pager) (888) 385-3295

Email: info@sunshinecoastland.com

The Trickle-Down Effect

An article in today’s Vancouver Sun (click here to read article) mentions a “trickle-down effect” of folks in Vancouver selling their homes for huge profits and moving to Vancouver Island and purchasing homes of equal quality for half the price.    This holds true for the Sunshine Coast, as well, and we have even better bargains.  The article mentions the benchmark price for a single-family house in Victoria’s core was $638,700 in February, and $1 million in Vancouver.  The benchmark price for a single-family house on the Sunshine Coast was $398,100 in February (from Greater Vancouver Real Estate Board February stats, which can be found by clicking here).   The wealth that is being created by the red-hot market in Vancouver will trickle down to other regions as sellers begin broadening their search for more affordable homes.   What will also trickle down, and is happening already, is heated market activity in the other regions, such as Vancouver Island and the Sunshine Coast.  Here on the Coast properties are selling sometimes within days of being put on the market, and receiving multiple offers.     There is huge pent-up demand and little inventory.  It is definitely a seller’s market now.

No comments

Post Your Comment: