Crazy Market in Deep Cove! Prices at the extremes!
Crazy Market in Deep Cove! Prices at the extremes!
Well in theory the market has slowed down a bit but the last week
has been crazy-we were in 2 bidding wars yesterday-very unexpected.
Even more crazy is the range in waterfront pricing in the Cove right
now. There is one listing at close to $18 million dollars-if that sells
it will set a new record for Cove waterfront single family homes.
At the other end of the extreme, there are some very good waterfront values in the low $2 million range which, surprisingly, have not sold. I doubt it will be very long before we stop seeing any waterfront in that low a price range (especially when on the same street you can find a home listed for almost 9 times as much...what do they say about buying the worst home on the best street?). Where else can you get deep water moorage in your backyard? It is a very rare commodity in a rare and wonderful community. I think for anyone wanting to buy into Deep Cove, it would be hard to beat this timing-there are a lot of homes available and the prices are quite good...and of course interest rates are still very low.
Waterfront seems to be a "best buy" right now-compare it to Kitsilano waterfront selling at more than double and in Kits you can't really even access the water from most of the waterfront homes so you are really paying for an amazing view. You certainly can't moor your boat in your back yard or pop out and put the crab trap out for a fresh seafood dinner (something we have been enjoying lately-nothing like fresh crab and bar-b-qued accompaniements).
At the other end of the extreme, there are some very good waterfront values in the low $2 million range which, surprisingly, have not sold. I doubt it will be very long before we stop seeing any waterfront in that low a price range (especially when on the same street you can find a home listed for almost 9 times as much...what do they say about buying the worst home on the best street?). Where else can you get deep water moorage in your backyard? It is a very rare commodity in a rare and wonderful community. I think for anyone wanting to buy into Deep Cove, it would be hard to beat this timing-there are a lot of homes available and the prices are quite good...and of course interest rates are still very low.
Waterfront seems to be a "best buy" right now-compare it to Kitsilano waterfront selling at more than double and in Kits you can't really even access the water from most of the waterfront homes so you are really paying for an amazing view. You certainly can't moor your boat in your back yard or pop out and put the crab trap out for a fresh seafood dinner (something we have been enjoying lately-nothing like fresh crab and bar-b-qued accompaniements).
On the non-waterfront side, there are also some great homes available for under $1 million-for example, we have one on a quiet cul-de-sac with three beds up, nice living area, recroom, wine room and office down all for $749 and it hasn't sold yet-I can't believe it...
The market truly is a bit crazy now...great time to buy and likely a
bad time to be sitting on the fence!
If you have any questions on the market and what its doing or how you could use it to your advantage, please let me know.
(604)376-7653
phoulihan@deepcovehomes.ca