Salt Spring Island, October 2022, Market Analysis

October is beginning with a continuing long late summer weather pattern. The beauty of this harvest season is visible everywhere on the Pacific Northwest Coast.

It’s also the civic election time in B.C. (every four years), and it seems that all communities are seeing many people running for only a few seats…many more people are wanting to be involved than there are available spaces.   Salt Spring is no exception.

Usually, civic/community elections are lackluster…it’s provincial and federal elections that capture attention. The community level is very important, as it guides the day to day lives of those who live there. Important to get out and vote. Be informed.

Support the candidate that reflects your views. Those elected will be in place for the next four years.  The Gulf Islands form of governance (Islands Trust) means each island votes for two trustees and also for a CRD director. Apathy is not a choice in 2022.

October is the Canadian Thanksgiving month…an authentic Harvest season. It’s the perfect time to be a visitor on the Gulf Islands.   The micro-climate on these islands supports vineyards, wineries, cideries, farmers markets, and the park hiking/walking trails beckon. Galleries showcase the artistic culture that creates the ambiance of the Gulf Islands.

The real estate market?   Low inventory remains a factor.   Sales do take place in all price ranges.   The frenzy market of 2021 is over, but buyer inquiries remain strong.   Uncertainties create hesitations, but action is still happening.   There are both price reductions and also new listings that come onstream with higher than expected pricings.

The key to all markets is supply and the flight from urban to rural remains a key demand motivator in deciding for a purchase of a country property.   Increased interest rates do affect first time buyers, and hesitations/pauses in action are a feature, but sales activity remains consistent in many secondary home locales.   More information on current listings and sales on Salt Spring Island, as the market evolves?   Contact me for updates.   Thank you.

Meantime: it’s October…a month for star-watching as the days shorten and crisper evenings invite us to watch our skies.   The annual Apple Festival on Salt Spring, the Thanksgiving holiday weekend, the gallery openings and receptions, the ArtSpring events, the switch to Sunday races at the Sailing Club, the Saturday and Tuesday farmers markets, the olive grove and vineyard and apple orchard harvests and creation of new wines/new ciders…this is a time of beauty and the gift of restorative Nature.
The ease of the Fall Season is with us.   Enjoy!