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

The 500k -899k (middle market)  prices are trending up.  There is a “relatively” fast turn over of homes in this price range if it is a decent home.   Some pristine homes with nice ocean views are available. 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 Salt Spring homes in this range. This is a market range that offers the most value for your money.

Between 750k and 850k you should be able to find a stunning, newer, home that should come with a nice master bedroom suite, updated kitchen, hardwood floors and be almost perfect. There are homes in 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.

This chart shows the number of middle market homes that have sold per year over the last 10 years.

List of 73 home that sold in the mid-market on Salt Spring for 2017.

Average selling price $681,427

Average asking price $665,641

Average size of home 2,252 sq ft

Average size of lot 136,456 sq ft

Average days on the market 105

 

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