Property Type: Condo / ApartmentOwnership: Strata

153 Southern Way

Salt Spring, BC V8K2Y1

$1,599,900

2 bed3 bath7 parking2,524 sqftBuilt 2022
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Property Details

Property & Lot

Sub-type
House
Lot size
1.5 acres
Zoning
Residential

Ownership & Fees

Property type
Condo / Apartment
Ownership
Strata
Strata / maintenance fee
$30/mo
Annual property tax
$4,864

Interior

Heating
Heat Pump, Wood
Cooling / A/C
Air Conditioned
Fireplace
Yes (1)

Exterior & Lot

View
Lake view, Mountain view, Ocean view, Valley view

Parking

Total spaces
7

Restrictions & Policies

Pets
Allowed

As reported by the listing board — always confirm current bylaws with the strata or landlord before relying on this.

Room Dimensions

RoomLevelDimensions
EntranceMain level
BathroomMain level
OfficeMain level
EnsuiteMain level
Primary BedroomMain level
BedroomMain level
BathroomMain level
Laundry roomMain level
PantryMain level
KitchenMain level
Sitting roomMain level
Dining roomMain level
Living roomMain level

Listing Information

MLS®
996701
Listed
April 28, 2025
Time on market
On the market for 490 days
Data last synced
August 28, 2026

Listing provided by: Macdonald Realty Salt Spring Island · Data source: CREA DDF.

Description

A supreme blend of quality, light and views, this 2,500 square foot, one level, executive mountain home truly achieves the ideal contemporary yet west coast design. The open and elegant living area welcomes you right into the view with a master bedroom plus guest space and office wing on opposing sides. Soaring ceilings and immense sections of glass look out onto a dramatic ocean, lake and island backdrop, with the finest finishing and progressive features, the grand space does nothing to diminish the relaxed, comfortable and quality ambiance. Here you can work, entertain and hit the trails accessed steps away where one can climb to the peak of Mt Erskine, a beloved island trail leading to aerial views over Sansum Narrows and Vancouver Island. Serviced by a private drilled well, and with all the protection of New Home Warranty, this close to Ganges home was constructed by one of Salt Spring's finest builders, and is certainly to be treasured. (id:63159)

Values & Trends

This listing

$634/sqft

Building average

No other active listings in this building

Salt Spring average

$872/sqft

8 active listing(s)

Parking: 7 stall(s) includedStorage locker: Not indicated

Per-stall/locker dollar values aren't itemized in our data source — shown as included/not indicated only, not a fabricated estimate. $/sqft averages are computed live from other active listings, not a third-party model.

Location Insights

Weather

Nearest station: Duncan

15°C

Humidity 82%

Wind NNW calm km/h

Tonight

12°

Tuesday

21°

Tuesday night

14°

Wednesday

16°

Wednesday night

11°

Thursday

17°

Source: Environment and Climate Change Canada.

Nearby Schools

SchoolTypeDistance
Phoenix PlaceSecondary1.9 km
Gulf Islands SecondarySecondary2.0 km
Salt Spring ElementaryElementary2.3 km
Fernwood ElementaryElementary6.3 km
Crofton Elementary Community SchoolElementary8.2 km
Maple Bay ElementaryElementary9.8 km
Queen of Angels School(Independent)Elementary/Middle12.8 km
Alex AitkenElementary13.3 km

Schools shown by distance from this property. This does not indicate school catchment or enrollment eligibility — contact the school district to confirm catchment boundaries.

Nearby Transit

No TransLink stops within an ~10-minute walk.

School district: Gulf Islands (SD64)

Similar Listings Nearby

No similar listings found nearby right now.

Mortgage & Ownership Cost Calculator

Minimum required: 20.0% ($319,980) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.

Financial Ledger

Net mortgage (loan + CMHC insurance)$1,279,920.00
Periodic payment — Principal & Interest (monthly)$8,257.61
Additional monthly expenses (strata, tax, utilities, etc.)$561.33
Total monthly cost$8,818.94
Interest paid over 5-yr term$366,828.75
Balance at end of term$1,151,292.18

Rates based on Bank of Canada benchmark data.

Financial Summary

Minimum down payment$319,980
Stress test qualifying rate8.09%
Payment you must qualify for$9,842.14

Cash Needed at Closing

Minimum down payment$319,980
Estimated BC PTT$29,998
Legal / closing costs (typical estimate)$1,500
Total cash needed$351,478

Minimum down payment: 5% on the first $500,000, 10% on the portion up to $1.5M, 20% at/above $1.5M. Stress test: OSFI's minimum qualifying rate, the greater of contract rate + 2% or 5.25% — this is what lenders require you to qualify at, not what you'll actually pay. Closing costs are a typical-range estimate, not a quote — actual legal fees vary. Verify all figures with a mortgage broker and lawyer before relying on them.

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