Market Update January 2016

(February 10, 2016 )

Sunshine Coast Detached Listings
Sales up by 29 % over the previous year

There are currently 316 detached listings on the Sunshine Coast. This is down from January 2015 when there were 462 detached listings. Detached sales year-to-date ending January 31, 2016: 44 sales, in 2015: 35 sales; in 2014: 28 sales, and in 2013: 24 sales. The current market's hot price range is between $301,000 and $400,000 with 13 sales occurring in this price range. With the current sales pace, this represents a 7 month supply of listings.

Sunshine Coast Attached Listings
Sales up by 53 % over the previous year

There are currently 101 current attached listings. This is down slightly from December when there were 102 attached listings. Attached sales this year-to-date ending January 31, 2016: 12 sales; in 2015: 7 sales; in 2014: 8 sales and in 2013: 8 sales. With the current sales pace this represents a 8 month supply of listings. Attached listing represents strata unit apartments, condos and townhouses. Attached property sales are up over the previous years.

Sunshine Coast Land Listings
Sales up by 121 % over the previous year

There are currently 333 bare land listings. This is down slightly from December when there were 335 land listings. Land sales year-to-date ending January 31, 2016:  17 sales; in 2015: 8 sales; in 2014: 8 sales, and in 2013: 2 sales. With the current sales pace this represents a 19 month supply.

 Year-to-Date Sales
  • $000 to $300,000 with 5 sales
  • $301,000 to $400,000 with 13 sales
  • $401,000 to $500,000 with 10 sales
  • $501,000 to $600,000 with 5 sales
  • $601,000 to $700,000 with 3 sales
  • $701,000 to $ 800,000 with4 sales
  • $801,000 to $900,000 with 0 sales
  • $901,000 to $1,000,000 with 0 sales
  • 4 sales over a $1,001,000
January was another busy month for Realtors with Buyers hunting for the perfect home. Talking with one Realtor, his client could not find anything currently for sale on the market they liked, so they turned to buying lots.

This ads fuel to our local economy with builders hiring more people to keep up with the demand and quite often from off coast. The new hires in turn rent or buy homes.

Who is buying on the Sunshine Coast? It seems we are seeing quite a few people fleeing the high cost of housing in the lower mainland. Buyers are discovering the coast is only a 40 minute ferry ride and half hour trip on the Horseshoe Bay bus from downtown Vancouver. With our Canadian dollar at a low, this puts the Sunshine Coast on sale to Americans and with fellow Canadians who invested in the US during the 2008 downturn.

The Sunshine Coast is still the best neighborhood in the Lower Mainland and the best Value at any time of year.