Monthly Market Update
Dear Valued Clients and Customers,
It feels like a whole new world since the Canadian Team won that Edge-of-the-Seat hockey game at the Winter Olympics. It’s difficult to say whether it’s an Olympic Games euphoria that has dramatically changed the climate of Sun Peaks Resort real estate, the looming Harmonized Sales Tax (HST) which will add cost to property transactions after July 1, 2010, the general acceptance that record low interest rates will begin to slowly increase, the attractive pricing and wide selection of available inventory currently on the market, the traditional sense that sellers may be more motivated to sell at the end of ski season, the increasing feeling of confidence in Sun Peaks as a growing destination Resort, or all of the above that has brought the Buyers. Whatever it is, all of the real estate offices in Sun Peaks report a significant increase in buyer activity.
You will see in the following list of Resort-wide real estate transactions (MLS Listings) that have occurred since last month’s Market Update, a trend toward fewer new listings and more sales. Also, note that there is a long list of price adjustments this month as sellers understand it is the best priced properties which are achieving sales.
New Listings
Condo/Hotels
156/158 Nancy Greene’s Cahilty Lodge, Studio Lock Off, 668 sqft, GST Paid, $169,900
440 Nancy Greene’s Cahilty Lodge, Studio Loft, 454 sqft, GST Paid, $129,900
333 Nancy Greene’s Cahilty Lodge, Studio Lock Off, 634 sqft, GST Applicable, $165,000
352/354 Nancy Greene’s Cahilty Lodge, Studio Lock Off, 625 sqft, GST Applicable, $166,000
223 Nancy Greene’s Cahilty Lodge, Studio Lock Off, 668 sqft, GST Applicable, $173,900
214 Fireside Lodge, 1 bedroom, 485 sqft, GST Applicable, $159,900
315 Fireside Lodge, 1 bedroom, 537 sqft, GST Applicable, $156,800
Condos
44 Stone’s Throw, 2 bedroom, 2 bath, 922 sqft, GST Applicable, $349,000
8 Sun Mountain Villas, 2 bedroom, 2 bath, 1028 sqft, GST Paid, $284,900
9 Crystal Forest, 2 bedroom, 2 bath, 877 sqft, GST Applicable, $279,000
Townhomes & Duplexes
26 The Peaks, 2 bedroom, 2 bath, 1100 sqft, GST Paid, $349,000
17 The Peaks, 2 bedroom + suite, 1361 sqft, GST Paid, $369,900
25 The Peaks, 2 bedroom, 2 bath, 1179 sqft, GST Paid, $365,000
4 McGillivray Creek, 2 bedroom + Family room, 2.5 bath, 1375 sqft, GST Paid, $459,000
25 McGillivray Creek, 2 bedroom + Family room, 2.5 bath, 1290 sqft, GST Applicable $ 463,000
1338 Burfield Drive, 3 bedroom, 2 bath, 1188 sqft, GST Paid, $289,000
1321 Burfield Drive, 3 bedroom, 3 bath, 1640 sqft, GST Paid, $399,000
Houses
2407 Fairways Drive, 6 bedroom, 3 bath, 3500 sqft, $569,000
2204 Sunburst Drive, 7 bedroom, 4 bath, 3206 sqft, GST Paid, $709,000
Lots
2585 Mountain View Drive, Lot, 15,681 sqft, GST Paid, $219,000
2449 Fairways Drive, Lot, 10,680 sqft, GST Paid, $189,900
2569 Mountain View Drive, Lot, 13,390 sqft, GST Paid, $199,900
2448 Fairways Drive, Lot, 8712 sqft, $225,000
Price Reductions
63 Settler’s Crossing, 1 bedroom + Den, GST Paid, $14,900 Reduction (4.7%) List Price $300,000
1 McGillivray Creek, 3 bedroom + Family Room, 3 bath, GST Paid, $30,000 Reduction (4.6%) List Price $629,000
30 McGillivray Creek, 3 bedroom, 3 bath, GST Applicable, $10,000 Reduction (1.7%) List Price $569,000
33 McGillivray Creek, 2 bedroom + Family Room, 2.5 Bath, GST Applicable, $20,000 Reduction (4.3%) List Price $449,000
1364 Burfield Drive, 6 bedroom, 4 bath, GST Paid, $20,000 Reduction(3.5%) List Price $549,000
58 Settler’s Crossing, 1 + Den, GST Paid, $4,100 Reduction (1.4%) List Price $284,900
52 Settler’s Crossing, 2 bedroom, 2 bath, GST Applicable, $17,100 Reduction (4.7%) List Price $341,900
34 Snow Creek Village, 2 bedroom + Family room, 2 bath, GST Applicable, $10,000 Reduction (2.6%) List Price $374,500
1 The Peaks, 3 bedroom, 3 bath, GST Paid, $20,000 Reduction, (5%) List Price $379,900
4 The Peaks, 3 bedroom, 2 bath, GST Paid, 8,000 Reduction (2.5%) List Price $364,900
28 Snow Creek Village, 1 bedroom, 2 bath, GST Applicable, $5000 (2.0%) List Price $239,900
2 Powder Ridge, 3 bedroom, 3 bath, GST Paid, $10,000 Reduction (1.8%) List Price $559,000
1378 Burfield Drive, 4 bedroom, 3 bath + family room (suite potential) GST Paid, $10,000 Reduction (2.5%) List Price $385,000
1205 Delta Residences, 1 bedroom, 1 bath, $20,000 Reduction (1.3%), List Price $139,000
11 Timberline Village, Studio, GST Paid, $8,000 Reduction (5.3%) List Price $141,900
56 Crystal Forest, 2 bedroom, 2 bath, GST Paid, $12,000 (3.7%) List Price $309,900
2314 Sunburst Drive, 5 bedroom, 3 bath, GST Paid, $69,100 Reduction (8.6%) List Price $729,900
4120 Sundance Drive, 4 bedroom, 4 bath, GST Paid, $225,000 Reduction (15.8%) List Price $1,200,000
2407 Fairways Drive, 6 bedroom, 3 bath, $30,000 Reduction (5%) List Price $569,900
4110 Sundance Drive, 5 bedrooms, 3 bath, $290,100 Reduction (22.5%) List Price $999,900
401 Fireside Lodge, 1 bedroom, 1 bath, $9,000 Reduction (5.5%) List Price $154,000
Sales
5318 Lookout Ridge Drive, 5 bedroom, 4 bath, 3474 sqft, List Price $1,575,000
19 Sun Mountain Villas, 2 bedroom, 2 bath, 1027 sqft, List Price $269,900
22 McGillivray Creek, 3 bedroom, 3.5 bath, 1711 sqft, List Price $600,000
419 Fireside Lodge, 1 bedroom, 519 sqft, List Price $154,900
37 Settler’s Crossing, 1 bedroom + Den, 750 sqft, List Price $329,900
15 The Cottages, 3 bedroom, 3 bath, 1478 sqft, List Price $625,000
16 Forest Trail’s, 1 bedroom, 1 bath, 604 sqft, List Price $238,900
8 Sun Mountain Villas, 2 bedroom, 2 bath, 1028 sqft, List Price $284,900
156/158 Nancy Greene’s Cahilty Lodge, Studio Lock off, 668 sqft, List Price 169,900 ***SALE PENDING***
**********Sale prices are available upon request***********
*Also, 3 of the 4 remaining Bridge Gate units have pending sales – 4 bedroom, 4 bath, 2515 sqft, List Price $729,000. Call for details.
SOTHEBY’S INTERNATIONAL REALTY CANADA
Our office will be hosting spouses of a BC Municipal Leaders conference to take place in Sun Peaks at the end of April. We are making arrangements for a property tour and wine and cheese to introduce Sun Peaks real estate to spouses of conference participants who may have an interest. We have secured the Penthouse at Kookaburra Lodge where we plan to host a reception.
During the first week of June Sun Peaks Resort will become host to approximately 300 ‘Planners’ from the Pacific Northwest, Australia and other points. We have been approached to be a Sponsor for the Event. We look forward to this opportunity to assist in showcasing the exceptional Master Development Plan and Building Design Guidelines which make Sun Peaks Resort stand out as an extremely well planned Resort Community.
The new ‘Sun Peaks Collection’ poster we created for the Whistler window display is proving to be a popular item. Featuring a twilight photo of the Village from above (Natalie Anfield photo), the poster is attracting attention and purchasers. Although never intended for this purpose, we have agreed to sell the poster to visiting guests from The Netherlands and other locales. Drop by our office to see this new and very beautiful depiction of Sun Peaks. The poster is available at our cost of $25.
Darla Miller, a long time property owner at Shuswap Lake, is now introducing Sotheby’s International Realty Canada’s premier real estate services to the Shuswap area, another growing destination appealing to an ever-widening group of buyers. If you have an interest in this area, you may contact Darla at our office for assistance, or email her at dmiller@sothebysrealty.ca Darla will be providing real estate services in both the Shuswap area and Sun Peaks Resort.
Sun Peaks Resort Events
The annual Telus Nancy Greene Corporate Challenge and Benefit Auction will be held March 26th and 27th. Sotheby’s International Realty Canada at Sun Peaks is fielding a team of ski racers (Lisa Villamo, Darla Miller, Kevin Tessier (Lisa’s husband) and Mike Forster (Liz’s husband) in the Sport category. We have donated a beautiful Joanne Hastie painting of Sun Peaks Village for the auction and we will all be in attendance at the dinner. It’s not too late to attend this important community fund raiser. Contact melanie.smith@telus.net to register a team or to purchase dinner tickets (March 27th).
Easter Weekend will bring the Easter Bunny to Sun Peaks. Meet him at the top of the OSV Race Course where there will be more chocolate than ever and EB will be skiing around with the kids to help them find treasures. The Canadian Masters Alpine Championships take place April 1 – 4th and the following weekend wraps up this ski season with ‘Dummy Downhill’ on Saturday and ‘Top to Bottoms Race’ and ‘Coors Light Slush Cup’ on Sunday, April 11th, the final day of lift operations.
Our office will resume regular hours of 9 am to 5 pm on April 12th and remain open 7 days a week throughout the year. We look forward to assisting you with all of your real estate needs and are always happy when you just drop by to say hello.
Warm Regards,
Liz Forster, Jennifer Littlechild, Darla Miller, Lisa Villamo & Jessica Chapman