Silver Star Fall 2017 Real Estate Sales Review

 

A Demanding Market….

Greetings from the slopes of Silver Star!

It seems I have been spending quite a bit of time showing and selling property up on the mountain this year, which is terrific!! What’s even better is that the market has seriously returned to Silver Star resulting in 12 months of record setting sales. Close to 70 sales have occurred generating over a 60% increase in sales and the strongest year ever! It is fair to say that the markets in both the valley and here on Silver Star are favoring the Seller. Low property inventory and the realization by many that our region is an affordable alternative to the increasingly busy Kelowna and Whistler options.

Now, some demand detail….
There were 6 building lot sales with all but 1 selling in Alpine Meadows. This development has struggled since the market correction but is definitely enjoying some deserved popularity. Creekside continues to be the darling of the condo market with 16 sales and a consistent strengthening of sale prices due to low inventory. Firelight Lodge prices remain mostly unchanged over last year with 8 sales. Nice gains for those who purchased during the dark days but still along way off where introductory prices started. The Grandview, Silver Creek and Snowbird Lodge are a close behind at 7 sales while maintaining price adjustments of the last couple of years. As the inventory continues to dwindle in these complexes prices should begin to show growth as the demand is ever increasing. Strata titled suites had a stronger year with 5 sales, 1 lonely yet lovely town home, 4 half duplexes and 8 single family homes.

The currently listed inventory should enjoy more interest in the coming weeks as we lead up and into winter. Certainly any new inventory that is listed will not be on the market long. Multiple offers are occurring more and more making it challenging for all of us.

So, if you were ever thinking of selling NOW would be a great time for us to discuss as I I have buyers who are ready to pull the trigger:) Or, if you just want to pick my brain or simply join me in a little snow dance!!

See you on the slopes,
Kathy

Silver Star 2016 Real Estate Spring Review

And the sales keep coming…….

Much like the epic winter we had with day after day of fluffy snow; Silver Star Mountain real estate exhibited a strong sales season with 31 property transactions from December 2015 to date. Compare that to 17 sales for the same sales period the previous season!! By the time this report reaches you, we will likely have contracted an additional 4 sales.

In the condo property categorySummer SS, the strongest performer has been Creekside Condos with 9 sales and currently enjoying a sellers market. Firelight at the Pond has begun to rally with 3 sales experiencing slightly elevated pricing above the last few years of bank sales. Bare land had good sales activity with 5 lots sold. Fair to say that we are running low on options for single family homes with only 3 sales. Town homes and half duplexes were in high demand at 4 sales. Other sales were recorded in Snowbird Lodge, Pinnacles, Silver Creek Lodge and suites on the Knoll.

The summer season has already unofficially started with some great xcountry biking. Can’t wait to get up there and ride those flowy trails and re-connect with the mountain culture.

If you have any questions about real estate on the mountain or in the valley, I would love to hear from you.

So for now….enjoy the coming of summer and all the great activities out there to keep you fit ’cause before you know it I’ll be sending you my Fall review:)

Play safe,
Kathy

The Downside of DIY Property Sales

The Downside of DIY Property Sales

Silver Star Fall Review 2015

Just returned from a stellar cross country ski on my new classic gear!! The opportunity to take advantage of the world class trails is just too hard to pass up after a summer of terrific dry land training.

It’s been an interesting fall with slightly lower than normal sales for most of the season. However, the annual consistent arrival of the white stuff has seen stronger sales activity in the last week. I guess one might guess that the strong start to the season has nudged buyers off the fence!!

Since my 2015 Summer Update there have been 14 sales on the mountain; mirroring the same period last year and relatively the same distribution between single family, strata and lots. Click HERE to see all sold properties since July 2015. Likely the most interesting factoid is that Creekside Condos continues to be strongest market for condos selling 12 units in the last 12 months. Much of what has sold in the last 12 months has been on the market for sometime. It really excites me to see room for new inventory to get noticed. More importantly, it offers clarity as to what real value is and how important market pricing is for any new inventory coming on in the future.

Click on the following currently listed categories to get a sense of what’s available: LOTS, SINGLE FAMILY, STRATA & DUPLEXES.

There is still a lot of inventory on the mountain and still a good market for negotiating. Silver Star will continue to offer some of the best winter conditions available. Purchasing with an eye to combining an investment property with the option of periodic, personal use is definitely a great way to enjoy winter!

Ski conditions are sensational and I’m gearing up for day one on the boards with a bonus early opening! Looking forward to seeing you on the slopes and drop me a line if you have any questions about Silver Star Real Estate.

♦♦ If you need help with boots or want to demo a ski, click HERE for great specials from Olympia Cycle and Ski.
♦♦ If you need a break on accommodation this winter, click HERE for 10% off booking made before December 15, 2015 with Silver Star Stays

11412 Priest Valley Drive

Great Coldstream location for this roomy family home. Expansive deck is great for entertaining with terrific views. Home has been tenanted up and down with main house now vacant and lower level tenant gone at the end of August. Improvements done in the last 10 years include roof, furnace, hot water tank and duradeck. Great neighborhood and walking distance to schools and parks.

January Market Share

New_REMAX_Balloon_LogoJANUARY MARKET SHARE

Silver Star 2015 Summer Sales Review

Well it may be the farthest thing from your mind right now but if you’re like me; winter is always top of mind! Especially when there are such great property opportunities slope side. As the resort continues to grow and develop the Summer Experience, property ownership makes more sense than ever. With my great network of property management and cleaning companies; setting up an investment property is pretty seamless.

Here are some sales stats that reflect buying trends over the last 8 months since my last review. Lots and condos saw the most sales activity suggesting that buyers appreciate the affordability of condos and felt that having a home built was more desirable the purchasing an existing property. The single family and town home sales reflect long standing listed inventory finally selling at what the market was willing to bare. The inventory for well priced single family homes is dwindling as are available lots on the always popular Knoll. This may swing the pendulum toward the Ridge and Alpine Meadows but historically the Knoll has weathered market changes.

I currently have a nice inventory of well priced and maintained properties. If you or anyone you know is in the market to buy or sell, please feel free to pass on your update:)

Stay safe and keep those legs strong!!

Record breaking year for Silver Star property sales

Well its been a brisk sales year to date with no sign of slowing. In the last 12 month period sales have totaled a staggering 36 property units. This is the highest number of sales recorded since 2006 at 41

Good Reads

Good Reads!!
From time to time, I come across a great nugget or two and hope you can grab a few minutes to read the two links below. These are good reads!

What an $11,000 TFSA limit means for your retirement.

A Beginner’s Guide to Home Remodeling Costs

Another strong month posted by RE/MAX.

Click on the icon below to view March Real Estate Market Share and OMREB market news for the North Okanagan.

New_REMAX_Balloon_LogoMarch Market Share

memberservices  March Market News

Silver Star Fall 2014 Review

Greetings from the snowy slopes of Silver Star!!

The last 6 months of real estate sales activity has predictably slowed after a blistering 2013. Prices have leveled off and inventory has remained moderate. Buyers are committed to move forward as long as value is on the menu. Please have a look at the Silver Star Fall Sales Summary for the last 6 months. Condos and suite sales are very similar to this time last year but homes sales are down by 50%. Condo sales have been dominated by Creekside and Silver Creek, with Silver Creek enjoying a long awaited surge in sales activity. There has been one sale in Firelight, signalling a back to normal price point after a few years of developer discounting.

The outlook for the upcoming winter offer buyers a range of prices and choices in the condo market, with a very small inventory of suites. Listed Condos and Suites.

The availability of lots is still plentiful with each area offering slightly different advantages. Listed Lots.

Single family homes and town homes round out the inventory with over 50% of the inventory listed above $600,000. Listed Homes and Town Homes.

Overall, recent sales suggest that prices are holding and reflective of last seasons sales activity. As the valley begins to show signs of price points trending higher, it will be interesting to see when recreational property follows suit. This is still a good market for buyers as listed inventory categories offer enough supply to make a buyers offer something to get excited about!!

As always, I would love to hear your feedback, questions and referrals. You know where to find me on a snowy day and hopefully we will have the chance to have a run together!

See you on the slopes:)

Kathy

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