March 2016 Market Update

(April 08, 2016 )

Sunshine Coast Detached Listings
Sales up by 120 % over the previous year

There are currently 319 detached listings on the Sunshine Coast. This is up by four listings from February in which there were 315 detached listings. Detached sales year-to-date ending March 31, 2016: 263 sales, in 2015: 120 sales; in 2014: 84 sales, and in 2013: 87 sales. The current market's hot price range is between $301,000 and $400,000 with 68 sales occurring in this price range. With the current sales pace, this represents a 3 1/2 month supply of listings.

Sunshine Coast Attached Listings
Sales up by 73 % over the previous year

There are currently 85 current attached listings. This is down slightly from February when there were 94 attached listings. Attached sales this year-to-date ending March 31, 2016: 52 sales; in 2015: 30 sales; in 2014: 29 sales and in 2013: 20 sales. With the current sales pace this represents a 5 month supply of listings. Attached listings represent strata unit apartments, condos and townhouses. Attached property sales are up over the previous years.

Sunshine Coast Land Listings
Sales up by 157 % over the previous year

There are currently 340 bare land listings. This is up slightly from February when there were 327 land listings. Land sales year-to-date ending March 31, 2016:  67 sales; in 2015: 26 sales; in 2014: 15 sales, and in 2013: 11 sales. With the current sales pace this represents a 15-month supply.

 Year-to-Date Sales
  • $000 to $300,000 with 23 sales
  • $301,000 to $400,000 with 68 sales
  • $401,000 to $500,000 with 55 sales
  • $501,000 to $600,000 with 35 sales
  • $601,000 to $700,000 with 27 sales
  • $701,000 to $ 800,000 with 15 sales
  • $801,000 to $900,000 with 15 sales
  • $901,000 to $1,000,000 with 9 sales
  • 15 sales over a $1,001,000
We are in a Seller’s market - listings are in short supply and demand is high below a million.The only price range that is not in a Sellers’ market is the million and over. We currently have 84 listings above a million dollars for sale on the Sunshine Coast, with the current pace of sales we have a 17 month supply.

The Sunshine Coast Real Estate Market is the talk of the day on the coast. It seems everyone has an opinion about where the market is going both my colleagues and residents of the coast.  Remember affordability of the coast is why people are moving here, so there is a limit on what people can afford to pay. I remember my stock broker telling me there is room for the bears and the bulls, hogs get slaughtered. Even in this market your home will need to appraise for financing, price it right.

The Sunshine Coast is still the best neighborhood in the Lower Mainland and the best value at any time of year. Call me today for a free market evaluation or let me help you find your new home - Kenan MacKenzie 604.885.7810 or email me at kenan@kenanmackenzie.com.