Market Update March 31, 2017

(April 10, 2017)

Sunshine Coast Detached Listings
Sales down by 49% over the previous year

There are currently 234 detached listings on the Sunshine Coast. This is up from February when there were 210 detached listings. Detached sales year-to-date ending March 31, 2017: 135 sales, in 2016: 263 sales; in 2015: 120 sales, and in 2014: 84 sales. The current market's hot price range is between $401,000 and $500,000 with 35 sales occurring in this price range. With the current sales pace, this represents approximately a five month supply of listings.
Sunshine Coast Attached Listings
Sales down by 1% over the previous year

There are currently 48 current attached listings. This is up slightly from February when there were 46 attached listings. Attached sales this year-to-date ending March 31, 2017: 51 sales; in 2016: 52 sales; in 2015: 30 sales and in 2014: 29 sales. With the current sales pace this represents an almost 3 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 40% over the previous year

There are currently 234 bare land listings. This is up from February 28 when there were 222 land listings. Land sales year-to-date ending March 31, 2017: 40 sales; in 2016: 67 sales; in 2015: 26 sales, and in 2014: 15 sales. With the current sales pace this represents approximately an 18 month supply of listings.

Year-to-Date Detached Sales
  • $000 to $300,000 with 9 sales
  • $301,000 to $400,000 with 15 sales
  • $401,000 to $500,000 with 35 sales
  • $501,000 to $600,000 with 27 sales
  • $601,000 to $700,000 with 19 sales
  • $701,000 to $ 800,000 with 13 sales
  • $801,000 to $900,000 with 1 sales
  • $901,000 to $1,000,000 with 2 sales
  • 14 sales over a $1,001,000
Detached sales dropped by 49% over last year’s sales volume. This is a bit of a concern but we had 319 listings on the market last year at this time compared with 234 listings currently. On another note, the majority of our listings were below $600,000 last year.  This year we have only 80 listings below $600,000 and the majority are over. Last year we had a 3 and a half month supply of listings. This year we have a 5 month supply.

I am watching the pricing of homes and we are still seeing an upward push on home prices. My worry is that if inventory increases, there could be a downward pressure on prices. There is a lot of buyer interest in the market at the moment so it will be interesting to see how April turns out.

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.