April 2016 Market Update

(May 05, 2016)

Sunshine Coast Detached Listings
Sales up by 117 % over the previous year

There are currently 314 detached listings on the Sunshine Coast. This is down by five listing from March in which there were 319 detached listings. Detached sales year-to-date ending April 30, 2016: 387 sales, in 2015: 178 sales; in 2014: 136 sales, and in 2013: 125 sales. The current market's hot price range is between $351,000 and $450,000 with 97 sales occurring in this price range. With the current sales pace, this represents a 3 -month supply of listings.

Sunshine Coast Attached Listings
Sales up by 46 % over the previous year

There are currently 86 current attached listings. This is up by one from March when there were 85 attached listings. Attached sales this year-to-date ending April 30, 2016: 76 sales; in 2015: 52 sales; in 2014: 35 sales and in 2013: 30 sales. With the current sales pace this represents a 4 1/2 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 188 % over the previous year

There are currently 307 bare land listings. This is down from March when there were 340 land listings. Land sales year-to-date ending April 30, 2016:  127 sales; in 2015: 44 sales; in 2014: 17 sales, and in 2013: 15 sales. With the current sales pace this represents a 15-month supply.

Year-to Date Sales

  • $000 to $300,000 with 31 sales
  • $301,000 to $400,000 with 87 sales
  • $401,000 to $500,000 with 86 sales
  • $501,000 to $600,000 with 51 sales
  • $601,000 to $700,000 with 43 sales
  • $701,000 to $ 800,000 with 21 sales
  • $801,000 to $900,000 with 23 sales
  • $901,000 to $1,000,000 with 15sales
  • 29 sales over a $1,001,000

We are in a Seller’s market. Listings are in short supply and demand is high.
Vancouver has arrived on the Coast. Last November we would see the odd multiple offer situation, now it seems like it is the norm. Hard to say where we are headed interest rates are low and demand is high for homes on our beautiful Sunshine Coast.
 
We are seeing Buyers of all types from the family looking for an affordable place to raise their family to the couple looking to retire and cashing out of the Vancouver market. We have been saying it for years the Coast is the best kept secret maybe not so much as a secret now.

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