500k – 899k (middle market) Salt Spring Real Estate

The 500k -899k (middle market)  prices are relatively stable but seem to be compressing down.  There is a “relatively” fast turn over of homes in this price range if it is a decent home at a decent price it will sell.  At the present time there is about a 1 year inventory of listings.  Some fine homes with nice views are available. Some waterfront homes can be found in this price range. If the home is in perfect shape, well located, with a sunny view lot and not overpriced, it will sell fast. There are lots of buyers looking for quality homes in this range. This is a market range that offers the most value for your money.  In 2016 there were 97 homes sold in this price range;


mid market sales history

mid market historic number of listings

Mid market sales volume history



For $700k you can expect to find a stunning, newer, water view home that should come with a nice master bedroom suite, hardwood floors and be almost perfect. There are homes at this price range that can not be built new for the same price as what they are offered (even when allowing for depreciation). There is value in this range if one shops well.

I have had lots clients buy fabulous homes in this range at bargain prices.

List of 97 home that sold in the mid market on Salt Spring for 2016.

 

 

 

Average selling price $632,513

Average asking price $650,777

Average size of home 1997 sq ft

Average size of lot 137,734 sq ft

Average days on the market 135

 

There are some stunning homes in this price range.  It all comes down to finding a good solid home in a sunny location.  You might be able to find a view and please make sure you own that view.  I have seen trees grow and block what was once a stunning view.  The homes are out there it’s just a matter of finding the right one for you at the right price.

Cheers

Scott Simmons

Be Sociable, Share!