Real estate sales for January 2023 in the Powell River-Sunshine Coast Real Estate Board region were less than half the dollar amount recorded in January 2022.
According to statistics from the Canadian Real Estate Association, home sales were 25.3 per cent below the fiveyear average and 27.8 per cent below the 10-year average for the month of January.
“January and the winter months always provide some difficulty when discerning trends because of the low volume of sales activity, but the general outlook is that sales will be historically subdued for the time being,” said Neil Frost, president of the Powell River-Sunshine Coast Real Estate Board. “Our inventory levels have rebounded to where they stood in 2019 and
their astronomical highs of the spring of 2022, both of which bode well for potential buyers who are thinking about re-entering the market. Once the market settles and it becomes more clear that the Bank of Canada won’t be raising rates any more, at least for now, we should see consumer confidence begin to return.”
In the single-family residence category, in January 2023, there were 10 homes sold, valued at $6,422,500, compared to 18 homes sold, valued at $11,989,099, in January 2022.
In January 2022, there were four mobiles or manufactured homes sold, valued at $1,230,000, compared to none in January 2023.
In the condos, apartments and duplexes category in January 2023, there were two units sold, valued at
in January 2022.
Totals for residential sales indicate 12 units sold, valued at $6,992,500, in January 2023, compared to 22 units, valued at $13,219,099 in January 2022.
On the non-residential side, there was one parcel of vacant land, valued at $150,000, sold in January 2023, compared to three parcels, valued at $825,050, in January 2022.
In the industrial, commercial and institutional category, there were no sales in January 2023, compared to four units sold in January 2022, valued at $1,604,900.
Totals in non-residential indicate one sale valued at $150,000 in January 2023, compared to seven sales, valued at $2,429,950, in January 2022.
Grand totals show 13 units sold, valued at $7,142,500,
pared to 29 sales, valued at $15,649,049, in January 2022.
Average monthly selling price for a single-family home in January 2023 was $642,250, with an average of 99 days on the market. The average selling price in January 2022 was $666,061, with an average of 27 days on the market.
There were 24 new residential listings for January 2023, with 121 active listings at the
There were nine new non-residential listings in January 2023, and a total of 179 active listings for all categories at the end of January 2023.
Buyer profile statistics from December 2022, with feedback from seven buyers, indicate that 57.1 per cent, or four, were local buyers and 42.9 per cent, or three were out of area.
Full-year buyer statistics from 2022 indicate 42 per cent of those who responded to surveys were local buyers, with 58 per cent from out of area.
In terms of where buyers have located from, 13.5 per cent were from the lower Sunshine Coast, 12.6 per cent were from Vancouver Island, 38.6 per cent were from the Lower Mainland and outlying areas, 9.2 per cent were from Squamish, 12.1 per cent were from the
Thanks Rob - Chris, Malorie, and O! 2022
Vancouver, BC – February 6, 2023. The British Columbia Real Estate Association (BCREA) released its 2023 first quarter housing forecast update today.
Multiple Listing Service® (MLS®) residential sales in BC are forecast to decline 7.1 per cent to 75,150 units this year. In 2024, MLS® residential sales are forecast to post a strong rebound, rising 23.8 per cent to 93,025 units.
“A slowing economy and still elevated mortgage rates are expected to keep housing activity lower than normal through much of 2023,” said BCREA Chief Economist Brendon Ogmundson. “However, we expect a strong recovery, boosted by an expected decline in mortgage rates and record high immigration that will
Brendon Ogmundson BCREA Chief Economist
carry significant momentum into 2024.”
Inventories have increased from the depleted level at the beginning of 2022, but they remain low compared to historical levels, despite a sharp decrease in sales. However, the abrupt shift in market conditions has meant that prices have come down despite low inventory, falling from peak levels through
the spring before stabilizing toward the end of last year. While we expect MLS® average prices to trend relatively flat this year, they
will be lower than the peak values of 2022.
Consequently, year-overyear comparisons will register negative for much of
2023, likely resulting in negative annual price growth even if monthly prices begin to recover as expected later this year.
Ask an Expert: Cait Holmes
1. Pull out your mortgage renewal now, and start early. When you are proactive instead of reactive you can see if there is anything on your credit score or lifestyle that can be modified to ensure you are positioned for the best renewal. You are only in a position to do this when you start early.
In the last year of your mortgage you will have the most amount of options available. For example, there can be an inaccuracy in your credit report or you may be considering an income/job change that would impact your options.
2. Do not just sign the renewal offered. Lenders can change the terms of your mortgage, and the renewal you are signing can cost you up to four per cent of your equity if you are with the wrong lender for your current life stage.
3. Most people think the best rate is the best renewal – WRONG. The terms are most important and with all terms moving or selling is the only reason most people think they would ever break a mortgage. This is simply not the case.
A change in the interest rate market, divorce, health, job change, investment opportunity and many other reasons would contribute to a future modification being beneficial for a consumer.
4. Take into consideration lender history. The lender can have a higher prime then anyone because they know the cost to leave outweighs staying the course. The lenders are very smart with their calculated risks, and this is not something they have an obligation to disclose.
5. Remember your lender has a bias; their job is to handcuff you so they can make as much profit off you as possible. Don’t be a victim.
Cait Holmes is a mortgage broker in the qathet region.
Centrally located house in Westview. This well-maintained little charmer is perfect for a family or investor. Close to all amenities including schools, shopping and recreation. Furnace and hot water tank are both four years old and the roof is eight years young. Neat, tidy, clean and ready for your personal style. Book your showing today!
Adorable Rancher Located In Central Westview - This 2 bedroom, 1 bathroom rancher is perfect for the first time home buyer, retiree or investor. Beautiful hardwood floors can be seen throughout the living, dining and bedrooms. So much potential can be found in this home from the inside of the house to the backyard. Book your showing today!
Duplex Lot available today! Fully serviced and ready to build. So many options to develop this piece of Real Estate with its RM1 zoning. Inquire for more information.
of selling your home?
Are you considering buying a vacation home to spend your summers or weekends? Whether you want to buy a cabin a few hours away or a villa in the south of Spain, here are a few questions to ask yourself before taking the plunge.
1. How much will it cost?
On top of the mortgage and down payment, you must factor in expenses like property taxes, insurance, utilities and maintenance fees. You should also budget for future renovations and upgrades.
2. Can you afford it?
As a rule of thumb, your mortgage payments and other forms of debt should account for less than 36 per cent of your monthly gross income. If you think buying a vacation home will put you over this threshold, it may not be the right time to invest.
3. How will you use it?
It’s essential to decide whether the property will be used exclusively as a second home or a rental property. This will determine, among other things, where the house is located and how big it needs to be.
Contact a real estate agent in your area to start house hunting today.
For more than a decade Josh Statham has been a trusted source for real estate services in Powell River and surrounding areas. His desire to continuously improve customer satisfaction has led to the implementation of valuable home marketing resources, and now in 2023 it's time for the next step: The Josh Statham Group. Real Estate transactions have become increasingly detailed, and volatile markets have raised the stakes. Assembling a team of professionals with specialized skills ensures every aspect of your home sale or purchase is handled with the utmost care and ability. If you're selling or buying in 2023, it takes a team.
Welcome to 3551 Selkirk Ave where your new executive home awaits! With over 5000 square feet of fully finished custom living space, this West Coast contemporary home truly has it all. Located on a quite cul-de-sac in one of Powell River’s most desirable neighbourhoods this 6 bedroom 4 bathroom home includes; main level entry, beautiful ocean & mountain views, 19 foot ceilings, open concept kitchen, private sundeck with outdoor gas fireplace, steam shower in master ensuite and more.
3551 SELKIRK AVENUE
$1,699,900 MLS®16989 - Listed by Josh Statham - 460 Realty
CUSTOM LAKEFRONT HOME! Main-level-entry home with walk-out basement has so much to offer. Custom designed to maximize the views. Full ICF construction provides unparalleled efficiency, with in-floor hot water radiant heat on both levels. The basement features a legal suite, as well as the potential for in-law suite and guest accommodation, as well as home office and attached workshop.
7050 CRANBERRY STREET
$1,669,900 MLS®16755 - Listed by Josh Statham - 460 Realty
This 4-bed, 2-bath rancher is located on 2.71 acres of level land in bright and sunny Wildwood. With horse stalls, chicken pens, and a fully fenced yard this property is perfect for lovers of farm animals. There are several plots for the avid gardener looking to grow food, and a healthy blueberry patch right outside your door. Windows all across the front of the home grant views of the property and ample natural light, with a the carport and shop out back.
5953 SKEENA STREET
$919,000 MLS® 17078 - Listed by Andrew Roddan - 460 Realty
This stylish-family home is situated on a corner lot in one of the newest developments in Westview, with stunning curb appeal outside, and modern charm inside. The open concept floor plan includes Chef’s kitchen with large eat-up island, quartz counters, subway tile backsplash, ceiling-height cabinets and gas range. Upstairs provides bonus room for entertainment, large spare bedrooms and a spacious master suite with spa-like ensuite and walk-in closet.
7321 KEMANO STREET
$899,900 MLS® 17031 - Listed by Lisa Bartello - 460 Realty
19.5 acre wide-fronting freehold corner lot with mature timber and stunning ocean view on non- ALR land. Solidly built 3-bed, 3-bath home, plus two large shops, multiple out buildings, and well-built cabin. There are two wells (drilled and shallow), two septic’s systems, established gardens and convenient location just 20 minutes from town. Pristine privacy is protected by surrounding forest lands on this rare large parcel. Don’t let this opportunity pass you by!
3830 HIGHWAY 101
$1,369,900 MLS®17100 - Listed by Josh Statham - 460 Realty
Welcome to the executive home you’ve been waiting for! Desirable walk-in main level entry, stunning sunset and panoramic ocean views, 13’ vaulted ceilings, and extra large double car garage, are just a few of the great qualities this property has to offer. This 4-bed, 4-bath smart home has a very flexible floor plan that features a sound proof media room, private home office with french doors, heat pump with AC for all year comfort.
5431 HEMLOCK STREET
$1,299,900 MLS® 17099 - Listed by Josh Statham - 460 Realty
We’ve got acreage! This 4-bedroom family home is situated on 9.4 acres of agricultural bliss, numerous outbuildings including; an attached meat processing shop, detached garage(s), large barn (can be converted back to a suite). Large portion of privately forested area, fully-fenced yard, with tranquil water feature and fire-pit. Recent upgrades include new ductless heat-pump, metal roof 2010, fencing and landscaping.
2239 MCKENZIE ROAD
$899,900 MLS®NEW COMING - Listed by Josh Statham - 460 Realty
BRAND NEW HOUSE! This stylish two-story home is main-level-entry, with an open floor plan, three bedrooms upstairs, plus a fully contained one-bedroom ground level suite; ideal for mortgage-helper, Air BnB, or family. The open-concept main level features a bright and comfy great room, custom-kitchen with ceiling height cabinets, quartz counters, eat-up island, and pantry. Large windows provide ample light in the cozy living room, and there’s a spacious covered patio.
7281 EDGEHILL CRESCENT
$789,900 MLS® 17038 - Listed by Josh Statham - 460 Realty
This two-storey 3-bedroom, 3-bathroom home boasts a bright kitchen with ‘to the ceiling’ cabinets for all the storage you need. Large eat-up island with deep sink and full view of living and dining rooms. Powder room just off the open living space, Master bedroom with ensuite and walk-in closet upstairs, two bedrooms with 4-pc bathroom and access to cedar deck overlooking the low-maintenance front yard landscaping on the main floor along with spacious enclosed laundry room.
4308 SCOTIA PLACE
$699,900 MLS®17051 - Listed by Rachelle Gura- 460 Realty
RARE LAND CABIN on POWELL LAKE! Just ten minutes from the boat launch, this freehold land cabin is a rare offering. Private bay with ramp and float and nice fireshore create a lake side oasis. Cabin has great amenities like full bathroom, solar and large deck. Open and bright living space, spacious living room with wood stove, functional kitchen, two bedrooms plus open loft. Big lot with room to develop outdoor space. A piece of paradise on the lake that you actually own!
9302 POWELL LAKE
$476,000 MLS®16926 - Listed by Josh Statham - 460 Realty
POWELL LAKE FLOAT HOME. One of the finest floating homes on the lake, in one of the most convenient locations. Situated just past the Hole in the Wall, a short 20-minute boat ride from Mowat Bay or the Shinglemill, in a large protected bay offering privacy and tranquility. The cabin has plenty of docking space, a utility shop on its own float, complete with wood-fired hottub, a 30’ x 35’ fenced back patio, massive front deck as well as ramps, floats and breakwater.
10975 POWELL LAKE
$369,900 MLS®16838 - Listed by Josh Statham - 460 Realty
AFFORDABLE VIEW DUPLEX. Located in the popular Townsite neighbourhood, this income producing duplex is fully tenanted and generates incredible income. Hold on to this cashflowing investment, or, take one side for yourself and let the other help with the mortgage. Single-level duplex enjoys ocean views, covered front porches, and each side has an open plan with one bedroom and one bathroom
5604/06 WILLOW AVENUE
Listed by Josh Statham - 460 Realty
A step above the rest at Westview Heights! Shopping for a new premium-built home without the hassle of maintenance and up keep, look no further. Located on a quiet street, 4054/4056 Saturna Ave exceed the building standards of today’s new homes. Lifetime roof warranty, Step code 3 certified for superior energy efficiency, upgraded insulation, and heat recovery ventilator are just a few of the many enhancements you will find with this semidetached 2-bedroom home. Inside, the rancher offers spacious open concept living with 11’ ceilings, cozy gas fireplace, and large bright windows. Kitchen has premium appliances and a sit-up eating bar. The primary bedroom has a walk-in closet and 4-piece ensuite with beautiful curbless shower and heated bathroom floors. Don’t delay call for more details and your private showing today!
4054 SATURNA AVENUE + 4056 SATURNA AVENUE
$649,900 MLS®17024
$649,900 MLS®17023
Listed by Josh Statham - 460 Realty
A step above the rest at Westview Heights! Shopping for a new premium-built family home without the hassle of maintenance and up keep, look no further. Located on a quiet street, 4058 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 just a few of the many enhancements you will find with this semi-detached 3 bedroom plus bonus room home. Inside the main level of this two storey home you will find spacious open concept living with 13.5 ft ceilings, cozy gas fireplace, and large bright windows. Kitchen has premium appliances and a sit-up island with storage. The primary bedroom has a walk-in closet and 4-piece ensuite featuring a beautiful curbless shower and heated bathroom floors. Laundry and powder room located on the main. Upstairs has two bedrooms with bonus room and two 3-piece baths.
4060 SATURNA AVENUE + 4058 SATURNA AVENUE
$849,900 MLS®17092 $799,900 MLS®17022
Listed by Josh Statham - 460 Realty
BEAUTIFUL CUSTOM RANCHER + SHOP Situated on a private 1.26 acres in desirable Myrtle Creek Estates, this captivating 4 bed 4 bath home offers a wonderful blend of timeless elegance and contemporary style. Upon entering the home, the inviting white marble tile leads you into the open concept living area with its generous 12' ceilings, linear gas fireplace, and expansive windows basking the space with natural light. The kitchen is a chef's dream and ideal for entertaining, with its deluxe 6-burner gas range, quartz countertops, large island, bonus prep sink, and custom cabinetry. The adjoining dining room is highlighted by coffered ceilings and French doors that lead out to the covered patio overlooking the salt water pool and landscaped yard. Back inside, the primary bedroom delights with its vaulted ceilings, large windows, 2 walk-in closets and luxurious 5-pc ensuite. Three more bedrooms, plus den round out the home, along with a 2-bay garage and detached powered shop. Quality craftsmanship is evident throughout this truly stunning home. MLS# 17071 I 4 BDRM 4 BTH I $1,449,900
695 9 JASPER ST This charming ocean view home i n central Westview offers 4 bdrms, 1 b ath and a large 1/4 acre fenced yard that is a gardener's dream come true. The well-kept character home has an open living-dining area and kitchen with newer appliances and a large walkin pantry. The home is kept comfortable year round with a gas fireplace and new high-efficiency furnace w/ heat pump. Two bdrms and bthrm complete the main level with two additional bdrms downstairs with possible suite potential. Enjoy the large deck over the carport or relax in the Victorian-style gazebo - this property has it all'
MLS#17109|4 BDRM 1 BTH I $589,900
103-7175 DUNCAN ST I Only one unit remaining' This brand new, centrally located 2 bdrm 2 bath ocean view condo offers quality finishes and the worry-free lifestyle you've been waiting for. The contemporary design provides a bright and open living area accompanied by a functional kitchen that includes stone countertops, highend appliances, and a waterfall style island that opens up to a covered patio. Enjoy the cozy in-floor heating throughout the unit and hot water provided by the high efficiency gas boiler. Whether you're a first-time buyer, downsizing, or an investor - this is the opportunity for you
MLS# 17084 I 2 BDRM 2 BTH I $469,900
historic Townsite offers a great opportunity for an investor or those looking to get into the market. Each onebedroom unit is currently rented for a total income of $1,793 per month. Numerous updates have been completed including roof, electrical, plumbing, flooring and more. The corner lot provides ocean views, with ample parking and back lane access. Everything you need is in close proximity including schools, market, brewery, restaurants, as well as transit access and hiking trails.
LAKE VIEW DEVELOPMENT
OPPORTUNITY. 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’ backing on to Lot B. Develop the lots as is, or re-zone and subdivide in to as many as eight CD4 lots. The property enjoys views of Cranberry Lake, and is walking distance to trails, parks, grocer and restaurants. Don’t miss this exciting development opportunity!
LOT B, C, D DRAKE ST $499,900 MLS®16482
Currently zoned for a duplex, this level building lot is conveniently located in central Westview and in excellent walking distance to amenities, bus stops, and shops. Lot size is .31 acres and has RM3 zoning potential.
4315 JOYCE AVENUE
$319,900 MLS®16748
Your chance to step into a successful turn-key restaurant. Magpie’s Diner, a Powell River Institution, is for sale! Continuously operating for over a decade, this popular diner is located in the former Wiltshire’s building in Cranberry, a high-traffic location and ideal bright, open old-timey diner feel. This popular local eatery is the go-to lunch and breakfast spot! Favourable lease, fully licensed profitable turn-key resto is an ideal opportunity to run your own business.
6762 CRANBERRY STREET
$99,900 MLS®16560
BUSINESS AND BUILDING!
Excellent investment opportunity and thriving local business for sale. High exposure lot in Townsite with large meticulously wellmaintained and updated building with great parking and covered patio, and, the Granada Restaurant - continuously operating for fifty years! Dont’ miss your change to be your own boss, and own your buillding.
6249 MARINE AVENUE
$899,900 MLS®16190
Highly sought-after Cranberry development. Current owner has plans, permits, and city approval to complete the final chapter of this Green building project. Services have already been run to lot, turnkey project just waiting for the right buyer.
6730 CRANBERRY STREET
$475,000
SERVICED BUILDING LOT!
Level lot in Edgehill Crescent development in central Westview is ready for your new home. CD4 - RS3 zoning allows single-family home, plus suite and carriage home on this 57’ x 90’ serviced lot.
LOT 17 EDGEHILL CRESCENT
$199,900 MLS®16261
EXCITING BUSINESS OPPORTUNITY! Are you entrepreneurial and passionate about health and wellness? This could be your chance to realize the dream of owning and operating a successful fitness studio. Coast Fitness, continuously operating for 13 years in Powell River, is for sale. This long-established turn-key gym is located in a large industrial building in Westview, with a hundreds of members, professional trainers, and high-end exercise equipment. The only hot yoga studio with infrared heating panels, Coast Fitness also has a large spin class and TRX area and weight room. There’s opportunity to sublet space to other practitioners, as well as great reception, office, storage, laundry and washrooms.
COAST FITNESS - DUNCAN STREET $150,000 MLS®17063
With a standby generator, your family will feel safe and secure during power outages. We can connect your existing generator, or install a new Cummins, guaranteed one of the quietest, most efficient, and most reliable generators available.
This 5-bedroom family home is located on a quiet street in Wildwood! The 2-storey home offers 2 bedrooms on the main floor and three on the upper floor, three full bathrooms and a total of 2,415 sq ft of roomy living space. The kitchen is equipped with stainless steel appliances and an island with quartz counter tops. The master bedroom has vaulted ceilings, a spacious walk in closet, beautiful ensuite and several windows to capture the light. The 23’x6.5’ private deck off of the master bedroom looks over the backyard complete with a pond. The home is situated on a large 0.44 acre lot and is ready for your landscaping ideas. This home gives plenty of space to entertain and enjoy with family and friends. At a great price, this one won’t last long!
