If we wanted a house in this neighborhood it's about $850,000 for complete tear down/refurb place.
Around here, for half that, you get get a 3 year old, three story, 4,390 sq. ft. custom built home with a water view. Small lot but it's indicative of the pricing trend.
I picked one with a winter picture just so it wouldn't make you feel too bad. Although annual taxes of only $2000 a year may send you for a loop considering it's only about 10 minutes from our cap. city of Charlottetown.
Waterview home. Buy now though, people have finally figured out how much Americans will pay for a summer home up here and you can start to find a few waterfront lots listed for twice that much now. In comparison, I bought my acre of very beautiful waterfront property for only 30,000 about ten years ago.
Thankfully, general inflation has no way equaled waterfront property inflation.
