Market Update November 30, 2016

(December 05, 2016)

Sunshine Coast Detached Listings
Sales up by 30% over the previous year

There are currently 242 detached listings on the Sunshine Coast. This is down from October 31 when there were 279 detached listings. Detached sales year-to-date ending November 30, 2016: 911 sales, in 2015: 699 sales; in 2014: 538 sales, and in 2013: 430 sales. The current market's hot price range is between $351,000 and $450,000 with 223 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 47% over the previous year

There are currently 52 current attached listings. This is down slightly from October 31, when there were 58 attached listings. Attached sales this year-to-date ending November 30, 2016: 225 sales; in 2015: 153 sales; in 2014: 107 sales and in 2013: 89 sales. With the current sales pace this represents an approximate two-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 155% over the previous year

There are currently 238 bare land listings. This is down from October 31 when there were 250 land listings. Land sales year-to-date ending November 30, 2016: 371 sales; in 2015: 145 sales; in 2014: 66 sales, and in 2013: 55 sales. With the current sales pace this represents approximately a seven-month supply.

Year-to-Date Detached Sales
  • $000 to $300,000 with 82 sales
  • $301,000 to $400,000 with 188 sales
  • $401,000 to $500,000 with 210 sales
  • $501,000 to $600,000 with 148 sales
  • $601,000 to $700,000 with 81 sales
  • $701,000 to $ 800,000 with 55 sales
  • $801,000 to $900,000 with 42 sales
  • $901,000 to $1,000,000 with 29 sales
  • 76 sales over a $1,001,000
Interesting Facts

In 2014, for the period ending November 30, there were 13 detached sales on the Sunshine Coast over a $1,000,000. In 2015 there were 34 sales over a $1,000,000 and  this year, for the same time period, we have 76 sales over a $1,000,000.

In 2012, for the period ending November 30, there were 533 listings and 450 sales. In 2015, for the period ending November 30, there were 363 detached listing, 703 sales, and 6 month supply of listings. This year we have 242 detached listings and 911 sales with a 3 month supply.

Wondering why you cannot find a builder? This year we have sold 371 bare land lots compared to 2012 when sold 61 bare land lots.

Prices are still up over the previous year by 25 to 30% and unless we see some more inventory, the pressure is upwards. We have a lack of inventory on the coast right now. I have being trying to find a rancher for a couple that is walking distance to shopping in upper Gibsons and there is nothing out there. So if you know someone thinking of selling a rancher let me know. The market may take an extended 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.