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BC Waterfront Blog

There are a lot of "how-to" articles online that regurgitate the same advice about real estate related topics such as getting a good mortgage or prepping your home for the market. While those things are obviously very important, in this blog we try to write articles that are enlightening and valuable for visitors to our site. Rather than write about the same-old, same-old, we endeavour to create interesting and compelling articles specifically for people interested in (BC) waterfront real estate.

Landcor Report Shows Sales to Albertans Down 21% in First Quarter

Landcor came out yesterday with their Quarterly Residential Sales Summary for 2008. The major highlights of the report showed that sales dollar value has declined in three areas: Vancouver Island, Fraser Valley and BC North/Northwest, while Greater Vancouver, the Okanagan and the Kootenay regions saw an increase in total sales value compared to the same period in 2007. Overall, total sales value in BC increased 5.6% over 2007 while the total number of actual sales decreased by 11.38%. In addition, of interest to the recreational property market, sales to Albertans decreased by 21% in the first quarter of the year compared to the same period last year.

While you can't argue with the hard stats, we still feel that there is a great deal of interest in BC from Albertans. Stats on our site collected from April -June 2007 and the same period this year show the % of Albertans has only dropped by 4%, and the number of Albertans visiting the site has actually increased year over year from 5734 last year to 5970 this year (same time period mentioned above). Moreover, anecdotally we have Albertan friends who still want to purchase here and are finding competition from other Albertans when they try to make offers. So the Albertans are still out there looking. We can't deny that the Albertan real estate downturn has affected the BC recreational market, but I don't think it has dampened the desire of Albertans who want to purchase property in BC or retire here-perhaps just delayed things a bit and lowered their purchasing power (for those dependent on the sale of their own home to buy here).


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RE/MAX of Nanaimo - Dave Koszegi Group

Dave Koszegi is SOLD on Sproat Lake and the Alberni Valley DAVE. For waterfront properties on Sproat Lake, it's the only name you need to know. One of Canada's top-ranked RE/MAX Realtors, Dave was (...)


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