May 2016 Market Update

(June 08, 2016 )

Sunshine Coast Detached Listings
Sales up by 78 % over the previous year

There are currently 281 detached listings on the Sunshine Coast. This is down again from April in which there were 314 detached listings. Detached sales year-to-date ending May 31, 2016: 520 sales, in 2015: 291 sales; in 2014: 233 sales, and in 2013: 203 sales. The current market's hot price range is between $351,000 and $450,000 with 122 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 57 % over the previous year

There are currently 67 current attached listings. This is down from April when there were 86 attached listings. Attached sales this year-to-date ending May 31, 2016: 109 sales; in 2015: 69 sales; in 2014: 45 sales and in 2013: 38 sales. With the current sales pace this represents a 4 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 225 % over the previous year

There are currently 269 bare land listings. This is down from March when there were 307 land listings. Land sales year-to-date ending May 31, 2016:  205 sales; in 2015: 63 sales; in 2014: 21 sales, and in 2013: 20 sales. With the current sales pace this represents a 15-month supply.

 Year-to-Date Sales
  • $000 to $300,000 with 45 sales
  • $301,000 to $400,000 with 117 sales
  • $401,000 to $500,000 with 107 sales
  • $501,000 to $600,000 with 74 sales
  • $601,000 to $700,000 with 56 sales
  • $701,000 to $ 800,000 with 29 sales
  • $801,000 to $900,000 with 28 sales
  • $901,000 to $1,000,000 with 19 sales
  • 45 sales over a $1,001,000
We are in a Seller’s market, listings are in short supply and demand is high Last year at this time we had a 13 month supply of detached listings on the market. This year we have less than a 3 month supply. The market price has moved since February up by an average of 25% to 30% for detached homes on the coast. Never in my 21 years as a Realtor have I seen a market like this. When I compare us to similar communities like Langley or Abbotsford, we are still behind in price. Normally our up markets are 6 to 7 years in length and this is only our 2nd year. Staggering is the only way to describe it.

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