February 2017 Market Update

(March 10, 2017 )

Sunshine Coast Detached Listings
Sales down by 39% over the previous year

There are currently 210 detached listings on the Sunshine Coast. This is up slightly from January 31 when there were 203 detached listings. Detached sales year-to-date ending February 28, 2017: 76 sales, in 2016: 124 sales; in 2015: 66 sales, and in 2014: 51 sales. The current market's hot price range is between $401,000 and $500,000 with 23 sales occurring in this price range. With the current sales pace, this represents approximately a five and a half month supply of listings.

Sunshine Coast Attached Listings

Sales up by 40% over the previous year


There are currently 46 current attached listings. This is down slightly from January 31, when there were 53 attached listings. Attached sales this year-to-date ending February 28, 2017: 38 sales; in 2016: 27 sales; in 2015: 18 sales and in 2014: 19 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 down by 28% over the previous year

There are currently 222 bare land listings. This is slightly down from January 31 when there were 223 land listings. Land sales year-to-date ending February 28, 2017: 29 sales; in 2016: 40 sales; in 2015: 18 sales, and in 2014: 12 sales. With the current sales pace this represents approximately a 15 month supply of listings.

Year-to-Date Detached Sales
  • $000 to $300,000 with 4 sales
  • $301,000 to $400,000 with 8 sales
  • $401,000 to $500,000 with 23 sales
  • $501,000 to $600,000 with 14 sales
  • $601,000 to $700,000 with 11 sales
  • $701,000 to $ 800,000 with 7 sales
  • $801,000 to $900,000 with 1 sales
  • $901,000 to $1,000,000 with 2 sales
  • 6 sale over a $1,001,000
Last year the hot price range for the Sunshine Coast was $301,000 to $400,000 this year the hot price range is $401,000 to $500,000. In the Town of Gibsons, we only have one lot next to Dougal Park for sale at $249,000. I do not remember a time as a Realtor that we had only one lot available in Gibsons and no new lots on the horizon at this time. I think you could talk with just about any Realtor and they would tell you they have buyer’s but nothing to show them. One of the biggest homes that are missing in the market is a one level rancher.

I hear people talking about the prices coming down on the coast. For this to happen we need the inventory to climb and demand to drop. This is back to the adage of supply and demand. If anything, in my opinion, there is a greater chance of the market price rising this year than going down. We are still way below our comparable Lower Mainland markets for price, so be careful if you are waiting for a drop.

The Sunshine Coast is still the best neighborhood in the Lower Mainland and the best value at any time of year.The market in 2017 is going to be very interesting.

Call me today with any additional questions, or for a free market evaluation - 604.885.7810 or email: kenan@kenanmackenzie.com

We've moved! We're now with RE/MAX Top Performers at 101-938 Gibsons Way, Gibsons, BC V0N 1V7.