BLOG & STATISTICS

Providing Bowen Island's most comprehensive real estate report since 2019

STATS ON BOWEN - May June 2023

Posted on Jul 27, 2023

Average Sale Prices declined to mid-2021 levels




The Bank of Canada pushed its rate up to 4.75 per cent on June 12 and then to 5.00 per cent on July 7. The rising interest rates have had the greatest impact on properties listed at $2.0 million and up. On Bowen Island year-to-date at June 30, 2023, only 3 of the 21...

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STATS ON BOWEN - March April 2023

Posted on May 26, 2023

Downward trend showing signs of slowing


Activity during March and April 2023 reflected the pre-COVID market in 2019. Property values remained significantly higher than 2019 although the first four months of 2023 were similar to those of 2019 when the year-over-year (YoY) MLS® Home Price Index declined -0.9 per cen...

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STATS ON BOWEN - January February 2023

Posted on Apr 14, 2023

One year since Bank of Canada raise to 4.50%

Use this link for interactive report



March 8, 2023, marked one year since the Bank of Canada began raising interest rates from 0.25 to 4.50 in January 2023. There was no increase in March, and the impact of the tax increases has served to slow the Bowen market. From September 2022 through February 2023 the...

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STATS on BOWEN - December 2022

Posted on Jan 25, 2023

Stable, balanced, and sluggish




March 2022 marked the end of historic low interest rates as the Bank of Canada raised the rate .05 per cent, followed by with seven more increases, and yesterday announcing an eighth increase of 0.25 per cent bringing the rate to 4.50. Economists expect this to be the last rate hike...

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STATS ON BOWEN - November 2022

Posted on Dec 11, 2022

Most YoY metrics for Bowen real estate down

Use this link for an interactive report.



Real estate activity on Bowen has slowed dramatically with only one detached home property sold and no vacant land sales registered on MLS® for November 2022.

Both sellers and buyers are waiting for a clear indication of where the Bank of Canada rates, currently at 4...

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STATS ON BOWEN - October 2022

Posted on Nov 30, 2022

First decline in MLS® Home Price Index in 30 months




In October the MLS® HPI registered the first YoY decline since April 2020. Although just a 0.03 per cent decline over September 2022, The HPI is beginning to react to downward pressure by buyers as the Bank of Canada increased its rate by 0.25, 0.50, 0.50, 1.00...

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Tim Rhodes

Mobile: 604-341-9488

Phone: 416-910-8183

tim@rhodesonbowen.com

Office Info

Kiwi Innovation Realty Inc

572 Artisan Lane  Vancouver,  BC   V0N 1G2 

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Although every effort is taken to assure accuracy, Timothy Rhodes REALTOR® and Rhodes on Bowen assume no responsibility for the accuracy of third party information on this site. Financial and legal information should be confirmed with the apporpriate professional.