Market Update September 30, 2017

(October 03, 2017 )

Sunshine Coast Detached Listings
Sales down by 32% over the previous year


There are currently 290 detached listings on the Sunshine Coast. This is down from August 31, 2017 when there were 307 detached listings. Detached sales year-to-date ending September 30, 2017: 561 sales, in 2016: 827 sales; in 2015: 565 sales, and in 2014: 441 sales. The current market's hot price range is between $501,000 and $600,000 with 100 sales occurring in this price range. With the current sales pace, this represents approximately a four and a half month supply of listings.

Sunshine Coast Attached Listings
Sales down by 2% over the previous year

There are currently 47 current attached listings. This is down from August 31, 2017 when there were 48 attached listings. Attached sales this year-to-date ending September 30, 2017: 186 sales; in 2016: 190 sales; in 2015: 127 sales and in 2014: 85 sales. With the current sales pace this represents an approximate two month supply of listings. Attached listings represent strata unit apartments, condos and townhouses.

Sunshine Coast Land Listings
Sales down by 52% over the previous year

There are currently 211 bare land listings. This is down from August 31, 2017 when there were 231 land listings. Land sales year-to-date ending September 30, 2017: 161 sales; in 2016: 335 sales; in 2015: 112 sales, and in 2014: 52 sales. With the current sales pace this represents approximately a 12 month supply of listings.

Year-to-Date Detached Sales
  • $000 to $300,000 with 38 sales
  • $301,000 to $400,000 with 46 sales
  • $401,000 to $500,000 with 99 sales
  • $501,000 to $600,000 with 100 sales
  • $601,000 to $700,000 with 83 sales
  • $701,000 to $ 800,000 with 62 sales
  • $801,000 to $900,000 with 37 sales
  • $901,000 to $1,000,000 with 16 sales
  • 80 sales over a $1,001,000
                               The Lower Mainland has discovered the Beauty of the Sunshine Coast

Looking at detached sales there are 80 sales over a $1,000,000, and 30 of these are over $1,500,000. For us living on the Coast this seems like a huge number, but for those in the Lower Mainland it is not. A $1,000,000 may get you a townhouse in North Vancouver or a reasonable condo downtown while a building lot in Burnaby will cost you slightly more at $1.1 million. So if you think the prices are peaking on the Coast, we are only the 3rd year in an up cycle. The prices potentially still have a ways to go. Sales are down because inventory is at a record low.

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

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