Quarterly Newsletter, October 2009

Recent Market Activity

The real estate market on Gabriola Island has shown a strong improvement in activity in the past 6 months.

There are currently 104 properties listed for sale compared with 127 at the beginning of this quarter (July 1-September 30, 2009). There were 33 sales plus 6 conditional sales in this quarter compared to 32 sales in the previous quarter.

There are 82 sales plus 6 conditional sales to date for 2009 compared with the same period in 2008 at 89 sales.

The median sales price is the same for both years at $300,000.

This past quarter is more active in 2009 with 33 sales plus 6 conditional sales as compared to 23 sales for the same period in 2008.

Real Estate forecast for 2010

The Canadian Real Estate Association (CREA) has reported that low mortgage rates and pent up demand has resulted in a stronger than expected recovery in the housing market, and that national consumer confidence has continued to improve in 2009. CREA has forecast an increase in the number of sales for BC in 2010 of 7% over 2009. Average prices are forecast to stabilize in the rest of 2009 and into 2010.

The historically low interest rates that we are enjoying now will likely continue until June of 2010, so our expectations are that the market for real estate on Gabriola will remain at its current level of approximately 12 sales per month with a seasonal slow down in December and January.

HST - on July 1, 2010

"The British Columbia Real Estate Association and its members are concerned that home buyers and sellers, particularly buyers of new homes, will bear most of the burden associated with the proposed Harmonized Sales Tax"
>>Find out how to make a difference and speak up with an on-line letter, visit http://www.bcrea.bc.ca/hst/hstaction.htm

Things to do this fall on Gabriola

October Studio Tour - The time of our favorite event is almost here! The Thanksgiving Tour and Festival includes the Artists Studio Tour which is a three day event Saturday October 10 until Monday October 12 from 10-4. The kick-off party is at the Dragon's Lodge on Dragon's Lane. There will be live music with Dinah D and Miles Black, meet the artists and join in the raffle, Friday October 9th from 7 to 10 pm, tickets are $3 in advance or $5 at the door. www.gabriolaartscouncil.org

Story Time for preschoolers age 3-5 at the Public Library, Folklife Village, Gabriola on Tuesdays and Thursdays is a drop in program.

On going programs for teens on Fridays and Saturdays plus special events, call Jessica 250-247-8020.

Rug Huggers is a free play and social group for families with children up to 5 years old, call 250-247-8730.

October 31 - Halloween Fireworks at Gabriola Sands Provincial Park

November - Agi Christmas Fair will be held at the Community Hall on November 21 and 22.

December - Watch the local papers for all kinds of Holiday activities, craft fairs, concerts and more!

Check out the Gabriola Chamber of Commerce list of community events.

Thanks & best wishes...

We hope to see many of you out and about during the Studio Tour - it is a great time to visit Gabriola if you don't live here full time!

Thanks for reading our newsletter!

Contact us anytime...

Sincerely,

Lesley, Robyn & Carly McMahon