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News From the Vancouver Island Real Estate Board – April 2021 Edition

APRIL 1, 2021


NANAIMO, BC – Lack of inventory is frustrating potential buyers in the VIREB area, with demand for homes far exceeding supply.

While active listings in March were higher than in February, inventory is still at a historical low. There were
508 single-family detached properties for sale last month compared to 394 in February, an increase of 29 per cent. The number of condo apartments for sale rose slightly, up to 171 from 169 in February. Month-over-month townhouse inventory increased by 29 per cent, with 117 units for sale in March compared to 91 in February.

March saw sales of 567 single-family detached properties, a year-over-year increase of 67 per cent. As for condo apartments, 136 sold last month versus 47 the previous year, an increase of 189 per cent. In the row/ townhouse category, sales increased by 53 per cent year over year (81 to 124).

Although lack of inventory is a problem throughout British Columbia, it has reached a crisis point on Vancouver Island, says 2021 VIREB president Ian Mackay.

“Demand-side policies like taxes and higher mortgage rates have done little to remedy our inventory issue, which is a decade-old problem,” says Mackay. “Vancouver Island has always been popular with retirees, but COVID-19 and the option of remote work are now attracting younger buyers. Competition is fierce, and we don’t see that abating any time soon.”

The British Columbia Real Estate Association (BCREA) does not see the inventory situation improving
until more supply comes online later in the year. BCREA and local real estate boards are advocating with policymakers at the provincial and regional levels to speed up the development process so that municipalities can expand supply more quickly to meet demand.

“It’s painfully clear that attempts to dampen demand have not moderated home prices, so the best route to making housing more affordable, particularly for first-time buyers, is to increase supply,” says Mackay. “It’s not a quick solution, but it’s the only one that makes sense long-term. And, to do that, we need all levels of government working together.”

Unsurprisingly, the heated housing market is impacting prices, which are rising throughout the board area. The benchmark price of a single-family home hit $631,500 last month, 18 per cent higher than in March 2020. The benchmark price of an apartment reached $332,400, an increase of nine per cent, while the benchmark price of a townhouse rose by 19 per cent year over year, climbing to $487,100.

In Campbell River, the benchmark price of a single-family home hit $564,000 in March, an increase of 22 per cent over last year. In the Comox Valley, the benchmark price was $656,400, up by 19 per cent from one year ago. Duncan reported a benchmark price of $578,500, an increase of 15 per cent from March 2020. Nanaimo’s benchmark price rose by 18 per cent, hitting $645,600, while the Parksville-Qualicum area saw its benchmark price increase by 13 per cent to $714,500. The cost of a benchmark single-family home in Port Alberni reached $407,200, a 19 per cent year-over-year increase. For the North Island, the benchmark price rose to $302,100, a 15 per cent increase over last year.


– For VIREB’s March edition visit here


Quadra Island Property Sale Prices $$$

What has sold over the past 6 months on Quadra Island? And for how much?

Here is an itemized list with some basic details. If you would like a more detailed list including photo galleries I can email that to you upon request. Contact me at 250-203-8652 or for your list. I can also send tailored lists going back many years and based on multiple criteria.

Over the past 180 days (beginning of October 2020 to beginning of April 2021) the following 21 properties sold:

  • 8-638 Green Rd $125,000 0.08 acre serviced strata lot
  • 7-638 Green Rd $125,000 0.07 acre serviced strata lot
  • Lot 2 Nole Rd $209,000 0.95 acre raw land
  • Lot 11 950 Heriot Bay Rd (Fir Crest Acres) $250,000 2.09 acre serviced strata lot
  • Lot 12 950 Heriot Bay Rd (Fir Crest Acres) $250,000 2.7 acre serviced strata lot
  • Lot 5 950 Heriot Bay Rd (Fir Crest Acres) $260,000 2.48 acre serviced strata lot
  • Lot 1 Bold Point Rd $265,000 10 acre land
  • Lot 6 950 Heriot Bay Rd (Fir Crest Acres) $270,000 2.46 acre serviced strata lot
  • Lot 6 Irene Rd $300,000 7.76 acre land
  • Lot 2 Bold Point Rd $415,000 10 acre land
  • 1163 Topcliffe Rd $400,200 10 acres with shop, well, and septic
  • 181 Quadra Loop $524,900 0.68 acre view property, 900 sq ft house with 2 bedrooms and 1 bathroom
  • 618 Heriot Bay Rd $579,000 0.99 acre with 2 bedroom 1 bath house and 2 small cabins
  • 674 Cedar Dr $569,000 5 acres with 2400 sq ft 5 bed 2 bath house
  • 601 Heriot Bay Rd $565,000 5 acres with 2860 sq ft 5 bed 3 bath house (including basement suite)
  • 2656 Cherrier Rd $600,000 5 acres with 3 bed 2 bath house and 1 bed 1 bath cabin
  • 1396 West Rd $620,000 12.8 acres with 900 sq ft 2 bed 2 bath house
  • 797 Cliffe Rd $760,000 0.87 acre waterfront 3600 sq ft 3 bed 4 bath house and 1 bed 1 bath cabin
  • 1019 Gowlland Harbour Rd $900,000 10 acre ocean view 3 bed 2 bath house with 1 bed 1 bath cabin
  • 800 Summer Run Pl $1,145,000 0.78 acre waterfront 2 bed 2 bath house with shop and shared dock
  • 816 Gowlland Harbour Rd $2,450,000 18 acre waterfront 2500 sq ft home with deep water moorage

There are other properties that are “pending” which means that they now have unconditional accepted offers but they have not officially sold and so the sale price is not yet on the public record. Keep checking in for updates.


What’s on the Market Now? April 2021 Update

We currently have very few properties on the market! Here’s hoping for more inventory as the spring progresses.

What’s for sale on Quadra Island now?

We currently have 9 lots for sale:

  • 3-638 Green Rd is a 0.07 acre serviced lot listed at $159,900. It is located within very close proximity to the ferry to Campbell River and shops and services in Quathiaski Cove. There is also another lot in this strata subdivision at 6-638 Green Rd and it is a 0.08 acre lot listed at $164,900.
  • 868 Anderson Rd is a 0.24 acre property with a well, approved septic site, and ocean view. It is the only ocean view lot available for sale on Quadra. It is very close to the school, ferry, and shops and services in the Cove area. Listed at $259,000.
  • There are 5 lots remaining at the Fir Crest golf course subdivision at 950 Heriot Bay Rd. Lots 9, 14, 15, 16, and 17 range in size from 2.2 to 4.33 acres. These strata lots are serviced. Prices range from $315,000 to $415,000.
  • In the Granite Bay Area in the north end of Quadra Island (situated about a 35 minute drive north west of Heriot Bay) is an 11.75 acre lake view lot at 3333 Granite Bay Rd. This property has 2 wells and is listed at $465,000.


We only have 3 homes on the market right now. Unbelievable! Here they are:

  • In the Whiskey Point subdivision near the ferry and Cove shops is a newly built 1960 sq ft home with 2 bedrooms and 2 bathrooms as well as a 1 bedroom 1 bathroom suite. This property is on a 1/2 acre strata lot with ocean view. $749,000
  • At the south end of Quadra is a 1.7 acre waterfront property at 378 Sutil Rd. There is an unfinished 4 bathroom home at lock up stage with a 4 bay garage. There is also a lovely finished 1 bedroom 2 bathroom cabin. $900,000
  • Also at the south end is a stunning 77 acre waterfront property at 129 Joyce Rd listed at $4,288,000. This property consists of 7 titles where 1 title includes a 2461 sq ft home on 10 acres and the rest are subdivided and can be sold or developed individually. Wells and septics systems are in place. There is also a yurt and workshop on site. Great investment opportunity.

We also have a unique offering at Seascape Resort located at 774 Cliffe Rd for $2,398,000 which includes a 4 bedroom house, dock, and 6 chalets with 11 rental units on 2 waterfront acres.

Since demand is huge and supply is extremely limited, now is a great opportunity to sell. If you are considering selling your property and would like a complimentary property valuation, or would like to know more about my services please contact me at 250-203-8652 or email

Many purchasers who are interested in Quadra Island are flexible and due to the high number of buyers competing, they are often willing to allow time for sellers to look for their next home. So if you are worried about selling and having “nowhere to go” and would like to discuss strategies please get in contact. We CAN make this work! Please also note that realtors must follow strict Covid-19 protocols to protect our clients and our community.

For additional information on any of the property listings above including photo galleries please click the “Property Search” button in the menu above at the top of this page.


Open Bay, Quadra Island

Quadra Island Waterfront Home with a Dock at 800 Summer Run

Quadra Island Waterfront Home with a Dock at 800 Summer Run

New listing on Quadra Island! A must see for anyone searching for a piece of Paradise! This west coast stunner is a oceanfront home that is settled between the ocean and the forest. The open concept kitchen and living area are beautifully appointed with custom woodwork and wrought iron detailing and provides the perfect setting for entertaining. The 20ft cathedral ceilings and expansive windows allow for a flood of natural light that allows for stunning views of the 80′ dock and private beach! You will love the grand walk around decks to enjoy the landscape which provide a resort type atmosphere. Steps from the house is the dream over-height shop that includes a large loft area big enough for commercial office space, lounge area or man cave. Enjoy the brand new top of the line appliances (Fridge ordered) and heated tile flooring. This home is stunning and won’t last long!
2020 Quadra Island Market Summary

2020 Quadra Island Market Summary

  • A total of 43 properties sold.
  • Out of the total, 23 were single family dwellings and 20 were bare land.
  • Out of the single family dwellings, lot size ranged from 0.4 acre on Green Rd to 50 acres on Bold Point Rd.
    • Price range of $330,000 to $3,565,000
  • Out of the lots, size ranged from 0.11 acre on Green Rd to 40 acres on Heriot Bay Rd.
    • Price range of $168,000 to $679,500
  • Median Price
    • 2019 $580,100
    • 2020 $640,000
  • Sell Price/List Price Ratio for 2018 to 2020 has ranged from 93-111%. It is common for properties to sell at full list price or higher.
  • Inventory
    • 2018 ranged from 4-15 months. 2020 was usually around 2-4 months.

If you are thinking of listing your home this year, the market picks up significantly at the beginning of March. We currently have a severe shortage of homes for sale. I am happy to provide a complimentary market analysis of your home, as well as more detailed market statistics (including sale prices). Feel free to contact me at 250-203-8652 or at