Quarterly Newsletter, December 2008

Gabriola real estate activity for the past quarter

There were 9 sales since October 1st, 2008 as compared to 20 sales for the same period in 2007. The median price is $180,000 for the fourth quarter of 2008 as compared to $319,000 for the same period in 2007. The highest sale of this period was at $405,000 as compared to 5 sales over $400,000 in the same period of 2007 with the highest sale at $900,000. There are currently 78 properties on the market: 25 are bare land and the rest are residential. There are also 3 commercial properties currently for sale. The total dollar amount of real estate sales on Gabriola in 2008 is $33,157,042 down 36% from $51,763,740 in 2007. The number of sales in 2008 is down 32% from 2007 and the number of properties listed iss down 20% from 2007.

As you can see 2008 has been a slow year for sales, in fact we had the lowest volume of sales since the 1980's! Prices hit their highest point in the early part of the year, softening as the year progressed. The median price range for 2008 was $294,000 the low was $50,000 and the high was $978,000 with 5 sales below $100,000 and 8 sales over $500,000.

Our prediction for 2009 is for a slow start with an increase in activity as summer approaches. Prices are attractive and it will be a buyers' market this spring as more properties come on to the market and there is an increase in selection.

Events To Look Forward To ...

The yearly Spirit Feast on December 25th hosted by PHC (for information call 247-9567), everyone is welcome.

4 course New Years Eve Dinner by reservation at Silva Bay with live music 250-247-8662, or at The Surf Lodge 250-247-9231.

Linux (a free computer operating system that is not Apple or Microsoft) Gabriola user group meets monthly, for info contact dvincent@sleepdeprived.ca

Gabriola Astronomy group meets each friday, 8:30 pm at the Brickyard providing skies are clear.

Gabriola Recreation Society winter programs 2009 (click on rec society under sports and rec)

2008 has been a wonderful year with lots of events within the community. We had an election providing us with experienced representatives. We have lots of recreational, social and educational opportunities for children, teens and adults. The artisan studios and home businesses are flourishing. Gabriola is a beautiful place to live!

We Wish You Happy Holidays, Merry Christmas and A Prosperous 2009!

Lesley, Robyn & Carly McMahon