Real estate sales on the rise
February 2024 figures outpaced transactions from February 2023
PAUL GALINSKI reporter@prpeak.comReal estate sales in February 2024 significantly outpaced sales from February of the previous year in the Powell River-Sunshine Coast Real Estate Board region.
Curtis Yungen, president of the Powell River Sunshine Coast Real Estate Board, said in the real estate market in 2024, local sellers constituted 77.8 per cent of transactions, with the majority selling their principal residence.
“Notably, 23.5 per cent of these sellers repurchased within Powell River,” said Yungen. “On the buying side, 56.3 per cent of purchasers were non-local, with 68.8 per
cent buying for their principal residence and 37.5 per cent citing quality of life as a motivator.
“The largest portion of non-local buyers, 37.5 per cent, hailed from the Lower Mainland and outlying areas. These trends suggest a strong local selling base, with considerable interest from non-local buyers, particularly
from urban areas seeking lifestyle changes. Powell River appeals to both locals looking to upgrade and non-locals seeking a change in lifestyle or investment opportunities.”
Yungen said signs of spring have made the market pick up and see an increase in buyers from in town and out of town.
In the single-family homes category, in February 2024, there were 15 sales, amounting to $9,686,800, compared to seven sales, totalling $4,813,800, in February 2023. There were no sales in February 2024 of mobiles and manufactured homes, compared to one sale, valued at $179,000, in February 2023.
In the condos, apartments and duplexes category, in February 2024, there were four sales, valued at $1,462,900, compared to one sale,
Signs of spring have made the market pick up and see an increase in buyers from in town and out of town.
- CURTIS YUNGEN Powell River Sunshine Coast Real Estate Board Presidentvalued at $350,000, in February 2023.
Totals for residential sales indicates 19 sales, valued at $11,149,700, in February 2024, compared to nine sales, valued at $5,342,800, in February 2023.
On the non-residen-
LOT 3 EAGLE RIDGE PLACE $329,900
Ocean view building lot in a very desirable neighborhood! Eagle Ridge Properties is a recent subdivision that is largely built out with gorgeous new homes on a gentle slope which provides lovely ocean views. This fully serviced lot is perfect for a two story home with level entry and a walkout basement. Local zoning also allows a suite and a carriage home on this property. You’re away from ‘through’ traffic in a residential neighborhood with schools and the local college within walking distance. A large wooded area behind the subdivision provides walking trails and a rural, west coast ‘feel’. This is one of the last lots available in this fast growing area. It’s a wonderful place to start building dreams!
Are you thinking about selling your home this year? Call or text me for a complimentary market evaluation, and let’s discuss your options and next steps.
AND MORE ...
tial side, there were four parcels of vacant land sold in February 2024, valued at $1,388,000, compared to one parcel, valued at $675,000, in February 2023.
In the industrial, commercial and institutional category, there was one sale, valued at $45,000, in February 2024, compared to two sales, valued at $2,625,000, in February 2023.
Totals for non-residential indicates five sales, valued at $1,433,000, in February 2024, compared to three sales, valued at $3.3 million, in February 2023.
Grand total sales show that there were twice as many sales in February 2024 as in February 2023. In all, there were 24 sales in
February 2024, valued at $12,582,700, compared to 12 sales, valued at $8,642,800 in February 2023.
Average sales price for a single-family home dropped year over year, however. In February 2024, the average price was $645,787, with an average of 58 days on the market, compared to $687,686, with an average of 100 days on the market, in February 2023.
In residential, there were 30 new listings in February 2024 and 15 non-residential, for a total of 45 new listings during the month. There were 115 active residential listings in April 2024 and 55 non-residential, for a total of 170 listings.
You’ve looked after your home. Let me help you to showcase all the best about it! I’m ready to make suggestions about how to dress it up for market and then bring in our tools for getting an online virtual tour done for every listing. An upbeat video featuring the high points is great for social media and for the majority of buyers looking online. Exceptional professional photography is an eye-catching callout to the many buyers looking in our area. Call or text me for a market evaluation.
Curtis Yungen President, Powell River Sunshine Coast Real Estate Board•
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604.208.2054
INVESTMENT
7312 HIGHWAY 101 $1,399,000
Investment property located minutes outside of the city limits. Live on property and manage your investments at the same time. This property offers a newer house, boat shop, quonset building (over 5,000 sq ft), six storage bays and two sea cans. All currently rented with exception of one sea can. All this in 1.5 acres of land.
OCEAN VIEW OCEANFRONT
3356 MARINE AVENUE $629,900
Private 3-bedroom, 1-bath home with oceanview located in Westview. Spacious lot with established apple and nut trees, has potential for a large shop, outdoor activities and a lot of parking for all your toys. Oceanviews and beautiful sunsets can be seen from your living room. Gorgeous original fir floors can be seen in several rooms throughout the house.
12423 SCOTCH FIR POINT ROAD $899,900
Unique Oceanfront Property. This gem is almost an acre of land and you can live right at the ocean’s edge. Live in your winterized A-frame while building your dream home above and storing your belongings in your 29x23 shop, which is tall enough for a boat or RV. Enjoy watching all the sea life from the comforts of your kitchen & bedroom window.
Are people ready for homebuying helpers?
Report shows Canadians are considering rent-to-own, joint ownership and secondary suites
CLAIRE WILSON Glacier MediaMore homebuyers in BC and Western Canada are becoming increasingly creative about their options as affordability woes create further roadblocks to entering market.
That’s according to a report from RE/ MAX Canada and market research firm Leger, which examines “alternative” ways Canadians are entering the housing market.
While the report brands these as “alternative,” real estate agent Tim Hill said this type of housing is common.
“It’s a staple in BC It’s not that alternative and homes with [secondary] suites, they do better, they sell quicker and there’s a much bigger demand for it without a doubt,” said Hill, whose office is based in New Westminster.
“Even joint tenants and tenancy in common, I don’t find that very alternative either.”
Thirty-two per cent of Canadians are exploring nontraditional ways
In Western Canada, secondary suites are identified as the most popular means to help buy a home, thanks to the extra income from renters. This is in addition to joint tenancy and tenants in common, which both represent different ways of splitting up ownership of a property.
of entering the housing market, while 48 per cent would consider nontraditional forms of home ownership in the future, according to the Leger survey contained in report.
“Many buyers who purchase a home with a secondary suite are doing so for additional income to help with mortgage costs,” the report stated.
Multiple suites on a single property may soon become more ubiquitous in BC due to legislation passed last November that allows up to six units on a single-family lot.
“Canadians from coast to coast are grappling with affordability challenges, but at the
same time, their desire to achieve home ownership remains strong,” stated Christopher Alexander, president of RE/MAX Canada. “This is prompting many to seriously consider alternative ways to get their foot in the door where it might not be feasible under the traditional ownership model of a single person or couple purchasing with between five and 20 per cent down.”
Rent-to-own is identified as the most popular model Canadians would consider as a means to enter the housing market.
BC United, the province’s official opposition party, recently proposed a rent-to-own
program in its housing platform. It cited a Port Moody project in which 10 per cent of a 358-unit development was designated as rent-to-own, describing it as a “successful example.”
In addition to secondary suites, joint tenancy is identified as another popular avenue for homeseekers in Western Canada.
This involves each party owing an equal part of the property, commonly when spouses or partners purchase a property together, and has a right of survivorship in which 100 per cent of the ownership is transferred to surviving members in the case of death.
Tenants in common
is among the top three homebuying helpers in the report. This refers to individuals who own different percentages of the property.
Across Canada, 21 per cent of respondents said they would consider co-ownership with a family member that isn’t a spouse or partner.
However, Hill said he doesn’t predict any significant increases in the number of people tapping these methods based on what he has encountered on a dayto-day basis.
“It’s a great potential idea, but I don’t see as many people doing it,” he added. “Truly, I think people want to do it themselves.”
Together we raised $3,149 for Grac House at our Kings Tailgate Party!
Our success would not have been possible without the support of our sponsors, the great music by Tyler Bartfai & Trevor Sytnick and the generosity of our community.
GET READY FOR SUMMER! Powell Lake float home has plenty of docking space, a utility shop on its own float, complete with woodfired hottub, a 30’ x 35’ fenced back patio, massive front deck and ramps, floats and breakwater.
10975 POWELL LAKE $250,000 MLS®17714
Listed by Josh Statham - 460 Realty
CENTRAL DEVELOPMENT PROPERTY! 1.35 acres at the dead end of Boswell Street in Central Westview, currently zoned R2 (single and two family). The property has been cleared with great access and services on the street, ready for a new in-fill subdivision. Power will be run to the lot soon.
LOT 12 BOSWELL STREET $599,900 MLS®17867
Listed by Josh Statham - 460 Realty
4048 SATURNA AVENUE $769,900 MLS®17876
Listed by Josh Statham - 460 Realty
WALK-ON WATERFRONT! This stunningly renovated two-storey beachfront home is perched at the shores of the Salish Sea with breathtaking ocean views and panoramic sunsets. A bright and open main level with a fully-contained suite downstairs.
6765 KLAHANIE DRIVE
$1,399,900 MLS®17840
Listed by Josh Statham - 460 Realty
INVESTOR ALERT! Prime commercial property is a must see. The level quarter-acre lot (68’ x 150’) offers room for development. An 800+ sqf bungalow recently updated, with 3 bedrooms, and currently provides traveller accommodation at over $3,000/mth.
4460 JOYCE AVENUE $349,900 MLS®17796
Listed by Josh Statham - 460 Realty
DEVELOPMENT POTENTIAL!! This exciting infill subdivision in Westview is a rare find. Solid four bedroom bungalow is move-inready, with a level yard and detached double garage with power. Rent out the house and start subdividing two lots off of the back!.
5011 MANSON AVENUE $599,900 MLS®17801
Listed by Josh Statham - 460 Realty
Beautifully updated, 5-bdrm, 3-bath, central Westview home is just steps to the beach walk on desirable Hammond Street. The open concept plan is bright and inviting, main-level primary bedroom features trendy ensuite and built in closet.
6883 HAMMOND STREET $799,900 MLS®17875
Listed by Josh Statham - 460 Realty
LIVE YOUR LAKEFRONT DREAM. This custom-built home on the shores of Cranberry Lake boasts 4,500+ square feet, convenient main-level entry with walk-out suite on a wide quarter-acre lot. This home is full ICF for the utmost in efficiency. The great-room features chef’s kitchen, formal dining and cozy living room with fireplace.
7050 CRANBERRY STREET $1,569,900 MLS®17852
Listed by Josh Statham - 460 Realty
This three-parcel land assembly on a quiet side road in Cranberry is comprised of three separately titled R2 (Single and Two-Family) lots. Lot B has 95’ of frontage on Drake Street with 132’ flanking a side lane with further road dedication. Lots C and D are both 66’ x 145’.
LOT B, C, D DRAKE STREET $399,900 MLS®17799
Listed by Josh Statham - 460 Realty
MOVE-IN-READY! Stylishly remodeled with high-end upgrades, this two-story half-duplex has so much to offer. Main-level-entry home on a private pan-handle lot has full yard access with recently upgraded driveway, attached carport, storage shed, privacy hedge.
4555A MICHIGAN AVENUE $649,900 MLS®17672
Listed by Josh Statham- 460 Realty
4058
a few of the many enhancements you will find with this semidetached 3 bedroom plus bonus room home.
4060 SATURNA AVENUE $849,900 MLS®17679
Listed by Josh Statham - 460 Realty
WATERFRONT VILLA. Set on a large, wide-fronting waterfront lot on a no-thru road in a peaceful bay along the shores of the Sunshine Coast, this level-entry home with open-concept plan and walk-out basement has received a massive kitchen upgrade.
2108 MAHOOD ROAD $1,988,000 MLS®17850
Listed by Josh Statham - 460 Realty
NO GST! Th remarkable semi-detached rancher offers quality for easy-care living. From the natural stone detail at the entrance to the underground power lines and efficient heat pump with AC, this home is designed to impress. Saturna Ave exceeds the building standards of today’s new homes. Lifetime roof warranty, Step code 3 certified-superior energy efficiency, upgraded insulation, and heat recovery ventilator system are justOCEANVIEW ACREAGE! This gently sloping 3.46-acre building lot in Paradise Valley is just minutes from town and offers incredible ocean views and southern exposure in a picturesque rural setting. The lot is accessed via a quiet cul-de-sac b overlooks Myrtle Rocks. LOT 3 CENTENNIAL DRIVE $469,900 MLS®17823
Listed by Josh Statham - 460 Realty
Stylish rancher provides the ease of single-level living, fenced level yard, attached double garage and desirable open concept plan. Spacious kitchen offers ceiling height cabinets, stainless appliance and large island, and the dining room is surrounded by windows and natural light.
7365 GLACIER STREET $714,900 MLS®17832
Listed by Josh Statham - 460 Realty
ACREAGE & TWO HOMES! Located in the desirable Myrtle Creek area, just a few minutes south of the municipality and near trails, market gardens and beaches, this beautifully developed 1.2 acre corner lot features two homes. The main home is level entry with a massive over-height rec room and country kitchen.
3047 BRADFORD ROAD $1,199,900 MLS®17643
Listed by Josh Statham - 460 Realty
WALK-ON WATERFRONT! This spectacular beachfront home is set on a large, private walk-on waterfront lot. Main-level-entry home offers open concept plan, with three bedrooms upstairs and a full basement, plus RV pad on an expertly landscaped seaside estate.
8745 PATRICIA ROAD $1,999,900
Listed by Josh Statham- 460 Realty
6506 SETON AVENUE $499,900 MLS®17849
Listed by Andrew Roddan- 460 Realty
CENTRAL ACREAGE. This turn key main-level-entry home is situated on a level one-acre lot in Central Westview. This property has development potential, and is currently zone R2 (single and two family), or makes an excellent home for anyone in search of a shop, parking or storage.
4532 MANSON AVENUE $769,900 MLS®17776
Listed by Josh Statham - 460 Realty
1.35 acres at the dead end of Boswell Street in Central Westview, currently zoned R2 (single and two family). The property has been cleared with great access and services on the street, ready for a new in-fill subdivision. The adjoining lot is also listed for sale.
7151 BOSWELL STREET $1,199,900 MLS®17724
Listed by Josh Statham - 460 Realty
This seaside estate overlooks Myrtle Rocks just 5-minutes south of the city of Powell River. Brand-new custom-built home is main-level-entry, with a vibrant open great room, spacious view deck, main-level master with guest rooms upstairs and a fully-contained two bedroom walk-out suite downstairs.
8447 HIGHWAY 101 $2,249,900 MLS® 17747
Listed by Josh Statham- 460 Realty
Powell River 59-unit rental property sold for $6.25M
Sold below asking at a cap rate of 4.9 per cent
DEAL | Glacier Apartments at 7080 Glacier Street in Powell River sold Feb. 5 for $6,250,000, a discount to the asking price of $7.2 million and the assessed value of $8,007,000. The sale price worked out to $106,000 per door for the three-storey, 59-unit property, which sits on 1.54 acres. Built in 1968, the property was recently upgraded with double-paned windows (2013) and sliding glass doors (2019) to improve energy efficiency.
PRICE | $6,250,000
MARK GOODMAN AND IAN BRACKETT, GOODMAN COMMERCIAL, FOR WESTERN INVESTORBASECAMP DESOLATION SOUND STRATA LOT 20 OCEAN VIEW
7 acre ocean view lot located at the gateway to Desolation Sound, minutes to Lund on the Sunshine Coast. Road accessible with power available. No building permit process required. Limited availability
9.82 ACRE OCEANFRONT ON PARKER ISLAND NEAR MONTAGUE HARBOUR
Southwest facing 9.82 acre high bank oceanfront property in the Southern Gulf Islands, just off Galiano Island. Drilled well, power on site and approved septic field installed. Shared dock and landing site in Montague Harbour. $399,000
1.73 ACRE OCEANFRONT CLOSE TO MAPLE BAY - VANCOUVER ISLAND
Road accessible, forested building lot overlooking Sansum Narrows and Salt Spring Island. Close proximity to amenities, marina with daily float plane service to Vancouver. Ideal full-time residence or recreational getaway. Power to the lot line, multiple building sites to choose from. $399,000
INDUSTRIAL BUILDING ON ACREAGE NORTH OF POWELL RIVER
3.55 acre rural property. 12,314 sq. ft. light industrial building accommodating a wide range of uses. 20 ft ceilings, 3 roll up doors, leveling deck, 400 amp single phase and 100 amp three phase power, 15 gpm drilled well, approved septic and 1,105 sq. ft. of office space. 364 ft of road frontage with a gated paved driveway and parking lot. $1,680,000
PRIVATE FLOATING LODGE HOLE IN THE WALL - TLUPANA INLET
Turnkey private floating fishing lodge in Hole in the Wall, Nootka Sound, near Critter Cove, West Coast of Vancouver Island, one of BC’s best fishing areas. Well maintained, fully equipped, furnished and ready to go. Jump in your boat and go fishing. NOW $850,000
OCEANFRONT CABIN AND DOCK ON BOULDER POINT - CORTES ISLAND
6.92 acres with 756 sq. ft. cabin and 40 ft dock providing deep water moorage. 3 minutes by boat from Squirrel Cove government wharf and general store on Cortes Island. Easily accessible and located right in world renowned yachting destination Desolation Sound. NOW $649,000
BASECAMP DESOLATION SOUND STRATA LOT 25 WILDERNESS
7 acre wilderness lot located at the gateway to Desolation Sound, minutes to Lund on the Sunshine Coast. Road accessible with power available. No building permit process required. $429,000
DAVIS BAY BEACHFRONT ESTATE SECHELT, BC
8.68 acre trophy oceanfront situated on Davis Bay on the Lower Sunshine Coast. Walk on beachfront with approx. 600 ft of waterfront. Private estate, family compound or development. Privacy, covered in mature trees, walking distance to amenities. $5,500,000
SLAM BANG LODGE - THE ULTIMATE WEST COAST FISHING LOCATION
World class salmon and bottom fishing within a 10 minute boat ride. This floating lodge is located on Union Island in Kyuquot Sound on the west coast of Vancouver Island. Includes 4 guest rooms, 3 bedroom cabin, large dining room, outdoor kitchen area and established fish processing facility catering to guests and other lodges. $995,000
140 ACRE OCEANFRONT BRAMHAM ISLAND
JERVIS INLET - HARDY ISLAND NEWLISTING NEWLISTING
90 ACRE OCEAN AND LAKE FRONT PROPERTY - QUATSINO
Substantial mature timber, some cedar, no estimate of volume. NOW $1,500,000
Nestled in South-central BC’s coast, this oceanfront haven includes 2 stunning bays, diverse terrain including lakefront, wetlands & old-growth forests, ideal for outdoor exploration. Accessible from Port Hardy by boat or float plane, this secluded paradise is surrounded by Crown land, providing an unparalleled wilderness experience. $1,795,000
MUSGRAVE LANDING HOME AND MOORAGE - SALT SPRING ISLAND
Oceanfront property with custom 3 bedroom, 2 bathroom home, separate studio / guest cabin. Private marina, moorage at your doorstep. Road accessible with services. Ideally situated in the Southern Gulf Islands with easy access to Vancouver Island. $1,250,000
OCEANFRONT HOME AND DOCK
Situated on 4.94 acres with 850 ft of low bank waterfront, this is an opportunity for waterfront living and recreation. With well-appointed main home, additional building site, two beaches, private dock and robust power and water system, it’s a paradise for outdoor enthusiasts. $1,189,000
From determining your home’s value to closing day, RE/MAX® agents help guide you through the entire home-selling experience.
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