CAROL BUDNYK'S NEWS LETTER FROM THE PENDERS JANUARY 2008
The 2007 real estate year was an active one on Pender Island. If you didn’t visit the Pender Islands in 2007, here’s hoping you can make it here in 2008! If you live on The Penders, greetings to all. The
Pender Islands has something for everyone from volunteering, a vibrant
arts community, alternative healing arts, an active boating community
with four marinas, a realm of organized clubs, to the joys of hiking,
bicycling and beachcombing. It’s a beautiful place to visit, and to live. The islanders are friendly and welcoming and all services for day-to-day living are available on the island. The Pender Islands are known for their frequent Orca whale sightings.
You may have been wondering about the real estate market on the Pender Islands. I have put a few
statistics together for you based on Victoria Real Estate Board information.
| REAL ESTATE SALES ON THE PENDER ISLANDS IN 2006 AND 2007 |
|
Prepared by Carol Budnyk, REALTOR®
Royal LePage Coast Capital
January 2008 |
|
|
|
|
|
|
|
|
2006 Units |
2006 Range |
2007 Units |
2007 Range |
|
Residential Sales |
55 |
$155K to $2.4M |
79 |
$179K to $1.7M |
|
|
Median |
$365K |
Median |
$395K |
|
|
Average |
$490K |
Average |
$448K |
|
|
|
|
|
|
|
Building Lot Sales |
36 |
$80 to $825K |
26 |
$90 to $628K |
|
|
Median |
$115K |
Median |
$147K |
|
|
Average |
$192K |
Average |
$275K |
The number of residential sales in year 2007 jumped by 44% and the median sold price by 8%. The prominent sold price range was from the least up to $500K, although the range from $500K and up also had a strong showing. Building
lot sales in 2007 reflect a drop of 28% in numbers, and a jump in a
median sold price of 28%. For further breakdown, below you will find
the number of residential and building lot sales displayed in price
ranges.
BREAKDOWN OF SALES IN 2006 AND 2007 |
|
Prepared by Carol Budnyk, REALTOR®
Royal LePage Coast Capital |
|
|
|
|
|
|
|
Price Range |
Sold 2006 |
Sold 2007 |
|
Residential |
Up to $300K |
19 |
16 |
|
|
$300 to $400K |
12 |
25 |
|
|
$400 to $500K |
9 |
12 |
|
|
$500 to $700K |
7 |
16 |
|
|
$700K and up |
8 |
10 |
|
|
|
|
|
|
Building Lots |
Up to $100K |
12 |
1 |
|
|
$100 to $200K |
11 |
14 |
|
|
$200 to $300K |
8 |
5 |
|
|
$300K & up |
5 |
6 |
In January 2008 three residential properties were sold ranging from $245 to $455K, plus one large unique property for $4.7M. Presently listed for sale on Pender Island are 43 residential properties ranging from $199K to $2.5M. There
are also 36 building lots ranging from $90K to $895K, Fane Island
listed at $2.2M (across from Hope Bay), and a 214 acre farm listed at
$3.65M.
There
are 8 Fractional Ownership listings at Currents at Otter Bay ranging
from $109.5K to $197.9K, and 9 at Poet’s Cove Resort & Spa ranging
from $75.95K to $179.9K. Lastly there are 3 commercial properties for
sale, The Inn at Pender & Memories Restaurant, Hope Bay Café, and
Port Browning Resort, Pub and Marina.
If you haven’t heard about the Official Community Plan (Bylaw 171) for North Pender Island please visit www.islandstrust.bc.ca/ltc/np/projects.cfm. This site also provides everything you need to know about building and living on North Pender Island. You will also find information on South Pender Island on this site.
Best regards, Carol 
Email