Reviewing  2010 in real estate on Pender Island, 48 sales (plus 5 pending sales) went through MLS.  This is how the sales break down:

     Magic Lake Estates                                                  

        Residences         20

        Waterfront Res.   2

        Lots                       9

        Waterfront Lots   2

     Outside of Magic Lake Estates

        Residences         3

        Waterfront Res.   4

        Lots                       5

        Waterfront Lots   3

 

 What are the expectations for 2011?  Well, according to the BC Real Estate Association, we are to expect an increase in residential sales by about 6% across BC (Housing Forecast, Fall 2010).  Specifically for the Victoria Real Estate Board, the projection is an increase of 5% in sales with prices expected to remain stable with a possible decline of about 1% (BCREA Housing Forecast, Fall 2010).  As 2011 is getting into full swing, Buyers are turning their attention to Pender Island again.  We are off to a good start with 3 pending sales reported as of January 1, 2011.