Gabriola's Quarterly Real Estate Newsletter
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Recent Market Activity on Gabriola

Currently there are 79 MLS listings for sale on Gabriola, 43 of these are lots and acreage and 36 are homes. As of today (August 18th) there have been 119 sales plus 5 subject sales which still have conditions to be removed. At this time last year there were 72 sales.
As of June 30th, 2016 there were 100 sales for the first half of the year, 81 were homes and 19 were lots and acreage. The home sales break down as follows; 12 sold under $200,000, 17 sold in the range of $200,000 – $300,000, 22 sold in the range of $300,000 - $400,000, 14 sold between $400,000 - $500,000, and 16 sold at over $500,000.
There were 70% more sales in the first half of 2016 compared to the 59 sales in 2015 year to date.

Vancouver Island Real Estate Board (VIREB)
Current Market Trend

VIREB reports that buyer demand is outpacing supply in most areas of Vancouver Island.
Low inventory is currently the biggest challenge for buyers.
British Columbia Real Estate Association economist Brendon Ogmundson states that the robust market conditions throughout B.C. are reflective of B.C.’s vibrant economy and current market conditions are expected to continue for the rest of 2016.
Summer on Gabriola

We are experiencing a beautiful and warm summer. This is beautiful weather for being out doors, in the parks and at the beaches. One of our favorite annual events is starting today, August 18-21, the Gabriola Theatre Festival, check out the website and get your tickets before they all sell out! Some of you may have enjoyed the Gabriola Lions’ Concert on the Green at the Golf Course on August 4th, and the 61st annual Salmon BBQ fundraiser at the Community Hall, beer garden, salmon dinner, music and entertainment. Mark your calendars for next year if you missed these great events.

A new event this year will be the Farm to Table Feast, September 10th at the Gabriola Commons, arranged by the Gabriola Agricultural Association. "The Feast is planned to be an annual event featuring a three-course meal and cashbar with dinner entertainment by the amazing Dinah Dee Trio and post dinner dancing to the tunes spun by DJ Tim Gambrill. Tickets are $30 for adults, $15 for children over 10, free for those younger and are available at the Saturday Farmer's Market, Colleen's, North Road Sports, and Wishbone."
Copyright © 2016 The McMahon Group, All rights reserved.

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