5095 Snowbird Way, No. 5, Big White, B.C.
Asking price: $838,800 (Jan. 28)
Selling price: $855,000 (Jan. 28)
Days on market: 1
Taxes: $3,117 (2021)
Monthly maintenance fee: $383
Listing agent: Richard Deacon, Engel & Volkers Okanagan
The Action
Listing agent Richard Deacon received two offers within hours of listing the unit, which sold the same day. The sellers purchased the property in 2019 for $525,000, but decided to sell because their kids were getting older. As well, the market had set a record for price jumps.
“At some point, you make enough on something and you have to ask if it’s worth selling. They knew there would be strong demand, and we priced it at a premium and we still got over asking,” Mr. Deacon said.
What They Got
This recreational ski property 60 kilometres east of Kelowna is a two-storey, 1,400-square-foot, two-bedroom and two-bathroom townhouse that was sold fully furnished and turnkey ready for occupation.
The complex, built in 2003, is walking distance to shops, restaurants and gondola. It includes cathedral ceilings, exposed wood finishing, rock fireplace, open kitchen, hot tub on the balcony and garage.
The rental income is about $25,000 to $30,000 annually, which would allow the owner to use the unit for about one-third of the ski season. The units do not have rental restrictions.
The Agent’s Take
Affluent people moving into the region often buy a house in Kelowna and a recreational property at the same time, Mr. Deacon said.
“It’s almost become a necessary part of the equation. They have a $2.5-million budget and they decide to spend $2-million on a house and $500,000 at Big White.”
The sale completed March 1.
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