Denman, Hornby & Savary: Three Recreational Islands, Three Very Different Markets

Summer on the coast is here and vacation plans for many include a trip to one of BC's spectacular Gulf Islands. This week, we have a look at the micro-markets on three islands within the Central Gulf Island Region: Denman Island, Hornby Island, and Savary Island.

A search of BC Assessment data provided by the Landcor Data Corporation indicates that Denman Island has 845 assessed residential property folios, Hornby Island has 1,116, and Savary Island, despite being the smallest of the three and having no BC Ferry Service, has 1,325 folios. That is a critical point. Savary may feel like the most remote and least serviced market, but by folio count it has the largest residential property base of the three islands.

Small island real estate markets are not normal markets. They are thin, seasonal, highly property-specific, and easily distorted by one or two premium sales. That is exactly what shows up when comparing the most improved property sales activity on Denman Island, Hornby Island, and Savary Island from January 1, 2022 to July 7, 2026.

Across the 4.5-year period reviewed, Denman Island recorded 55 detached single family dwelling (SFD) MLS sales, followed by Hornby Island with 39, and Savary Island with 28. On transaction volume alone, Denman has been the most liquid of the three markets. That makes sense. Denman has BC Ferry access, a stronger year-round residential base, and a broader mix of rural residential, acreage, and waterfront properties.

Denman’s market has also been comparatively consistent. Annual SFD sales were 16 in 2022, 9 in 2023, 13 in 2024, 15 in 2025, and 2 so far in 2026. Median prices have generally clustered near the $900,000 range, with medians of $925,000 in 2022, $740,000 in 2023, $917,500 in 2024, $944,000 in 2025, and $1,829,000 in early 2026. The 2026 figure should not be over-read: it reflects only two sales, both at the upper end of the market.

Hornby Island is smaller in transaction volume but shows more pronounced volatility. Sales moved from 6 in 2022 to 12 in 2023, 8 in 2024, and 13 in 2025, with no 2026 SFD sales recorded in this dataset as of July 7. Median prices moved sharply: $1,081,500 in 2022, $658,000 in 2023, $787,500 in 2024, and $1,060,000 in 2025. That swing is the point. Hornby is a lifestyle-premium market, and the annual median can change quickly depending on whether the year includes more modest cabins, standard residential properties, or high-end waterfront sales.

Savary Island is the outlier. It is private boat or water taxi access only, highly seasonal, has no BC Ferry service, and generally trades at a lower median price point. Yet the market is far from insignificant. SFD sales were 6 in 2022, 5 in 2023, 8 in 2024, 6 in 2025, and 3 so far in 2026.

Median SFD prices on Savary Island have been notably stable compared with Hornby: $572,500 in 2022, $508,500 in 2023, $520,500 in 2024, $507,500 in 2025, and $415,000 in 2026 YTD. The lower price point reflects access, servicing, seasonality, and improvement quality, not simply location.

The current listing data adds another layer. As of the dataset date, Denman had 16 active SFD listings, with a median asking price of approximately $1,005,000 and a range from $615,000 to $1,899,000. Hornby had 17 active SFD listings, with the highest median asking price of the three at approximately $1,175,000, ranging from $479,000 to $2,150,000. Savary had the largest active SFD inventory count, with 22 active listings, a median asking price of approximately $619,000, and a very wide range from $185,000 to $1,999,000.

The takeaway from this basic MLS sales review is simple: Denman is the most liquid, Hornby is the most price-sensitive to premium sales, and Savary is the most inventory-heavy and access-constrained. For recreational island property, the market evidence is there, but it needs to be interpreted carefully.

For valuation purposes, these markets cannot be treated as interchangeable. A Denman sale is not automatically comparable to Hornby. A Hornby waterfront sale is not automatically comparable to Savary. Access, services, occupancy patterns, buyer depth, financing, improvement quality, and exposure time all matter. At Jackson & Associates, we follow these three island markets closely and provide timely valuation services to clients.