Low home inventory in pnw12/9/2023 A Fall Market has also been a characteristic of Gulf Islands sales, for many years. Outcomes in Vancouver do trickle down to the Gulf Islands. For several years, the main buyer profile has been from Vancouver/Lower Mainland. A holding pattern in local real estate, with low inventory and continuing buyer interest. Strong immigration to Canada, coupled with lack of housing product, continues. Most owners do not want to be sellers, as world events continue to cause major insecurities.a search for personal safety and for capital protection are two threads behind current buyer searches.that flight from urban to rural continues. Lack of housing of all types is an issue in all communities and the Gulf Islands are not immune. Two elected trustees per Island do not have the power to change the Trust mandate.the provincial government would have to do that. The Gulf Islands, unincorporated areas (except for Bowen), are under the Islands Trust form of governance (a provincial government body put in place in 1974, with a mandate of "to preserve and protect" the Gulf Islands for the benefit of all B.C. Governments at all levels (federal, provincial, municipal) are struggling with the lack of housing inventory. Lack of choice for buyers remains an issue. The 2023 pattern of the real estate market remains in place: very low inventory, in all property types and price ranges, and general stability in sale prices. Some call it the cosy season and that image of a slower pace welcomes this softer season to Salt Spring and the Gulf Islands. Daylight Saving Time ends, and this adds to darker late afternoons. November signals mid-Fall.forested hills feathered with golden leaves from Maples and Alders.more rainy days, and bursts of sun between storm tracks. Market Analysis Current Market Conditions Copyright, Li Read, 2023 Salt Spring Island Real Estate Market Analysis & also for the other Southern Gulf Islands Main Menu : Home
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