The recreational real estate market appears to be taking a turn for the better in Sun Peaks with the recent sale of a multi-million dollar home in the resort. For Sotheby’s International Realty broker, Liz Forster, that deal started the New Year off on the right foot.
“It was very, very sweet to be involved in a significant sale like that,” beams Forster.
The 4,500 square foot timber chalet was listed at $3.9 million and sold for $3,392,500 after being on the market for two years. The last time Sotheby’s sold a home for more than a million dollars was 18 months ago when a home on Sundance Drive was purchased for $1,050,000. But that wasn’t the highest priced home in the resort.
“The highest ever sale price of a residential property in Sun Peaks, prior to this one, took place in January, 2010 with a sale price of $2,205,000,” says Forster, noting the February 2012 sale eclipsed the previous one by more than 50 per cent.
Brokering million dollar deals may put a lot of pressure on some, but for Forster and her team, it’s just another day at the office.
“I don’t see it as making any difference to the actual pressure,” she says. “It may have spurred more buying interest. We’re very busy with people that have been considering buying for a while and holding back. I think this sale may have helped with that motivation for some to step forward.”
The Sotheby’s team has yet to officially celebrate their multi-million dollar sale, but Forster says that will happen soon enough. In the meantime, the team is busy fielding inquiries from Sotheby’s overseas offices.
“We’ve been in direct contact from the Moscow office and the London office about listings,” says Forster. “It’s definitely a sign that Sun Peaks is considered to be very attractive in the recreational market and I think it’s a sign that other people can now see the quality and special unique nature of Sun Peaks.”