Market Update for September 30, 2016

(October 04, 2016)

Sunshine Coast Detached Listings
Sales up by 47% over the previous year

There are currently 307 detached listings on the Sunshine Coast. This is down slightly from August 31 when there were 318 detached listings. Detached sales year-to-date ending September 30, 2016: 827 sales, in 2015: 565 sales; in 2014: 441 sales, and in 2013: 366 sales. The current market's hot price range is between $351,000 and $450,000 with 203 sales occurring in this price range. With the current sales pace, this represents approximately a three-month supply of listings.

Sunshine Coast Attached Listings
Sales up by 49% over the previous year

There are currently 60 current attached listings. This is down slightly from August 31, when there were 65 attached listings. Attached sales this year-to-date ending September 30, 2016: 190 sales; in 2015: 127 sales; in 2014: 85 sales and in 2013: 68 sales. With the current sales pace this represents an approximate 3-and-a-half-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 199%over the previous year

There are currently 251 bare land listings. This is down slightly from August 31 when there were 255 land listings. Land sales year-to-date ending September 30, 2016: 335 sales; in 2015: 112 sales; in 2014: 52 sales, and in 2013: 47 sales. With the current sales pace this represents an almost six-and-a-half-month supply.

Year-to-Date Detached Sales
  • $000 to $300,000 with 74 sales
  •  $301,000 to $400,000 with 172 sales
  •  $401,000 to $500,000 with 193 sales
  •  $501,000 to $600,000 with 128 sales
  •  $601,000 to $700,000 with 78 sales
  •  $701,000 to $ 800,000 with 52 sales
  •  $801,000 to $900,000 with 39 sales
  •  $901,000 to $1,000,000 with 25 sales
  •  66 sales over a $1,001,000

Buyers, if you are looking for a window to get into the market now is the time. Within all markets there are periods of up and down. Currently the market is taking a rest from its frantic spring run, where we saw 6 to 7 offers on a single property. The up cycle is not over so do not be lulled into thinking things are gong to stay this way. The market is usually 6 to 7 years in length. We are currently in the 2nd year of the up market. If you see the papers reporting increased sales, you may have missed your window.

In short, don’t be fooled if the market takes a breather, call me today with any additional questions, or for a free market evaluation - 604.885.7810 or email: kenan@kenamackenzie.com

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