Market Update for November 30,2017

(December 07, 2017 )

Sunshine Coast Detached Listings
Sales down by 26% over the previous year

There are currently 220 detached listings on the Sunshine Coast. This is down from October 31, 2017 when there were 255 detached listings. Detached sales year-to-date ending November 30, 2017: 676 sales, in 2016: 912 sales; in 2015: 699 sales, and in 2014: 538 sales. The current market's hot price range is between $451,000 and $550,000 with 128 sales occurring in this price range. With the current sales pace, this represents approximately a three and a half month supply of listings.

Sunshine Coast Attached Listings
Sales down by .08% from last year

There are currently 41 current attached listings. This is slightly up from October 31, 2017 when there were 39 attached listings. Attached sales this year-to-date ending November 30, 2017: 223 sales; in 2016: 225 sales; in 2015: 153 sales and in 2014: 107 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 49% over the previous year


There are currently 185 bare land listings. This is down from October 31, 2017 when there were 196 land listings. Land sales year-to-date ending November 30, 2017: 189 sales; in 2016: 371 sales; in 2015: 145 sales, and in 2014: 66 sales. With the current sales pace this represents approximately an 11 month supply of listings.

Year-to-Date Detached Sales
  • $000 to $300,000 with 49 sales
  • $301,000 to $400,000 with 52 sales
  • $401,000 to $500,000 with 121 sales
  • $501,000 to $600,000 with 119 sales
  • $601,000 to $700,000 with 95 sales
  • $701,000 to $ 800,000 with 79 sales
  • $801,000 to $900,000 with 47 sales
  • $901,000 to $1,000,000 with 21 sales
  • 93 sales over a $1,001,000
     Inventory Still Low and New Mortgage Rules Coming in January

There’s not much to say this month, our inventory is still very low and there are still buyers trying to find something in their price range. I would have never thought that it would be an issue to find a home under $500,000 between Gibsons and Sechelt.We have the new mortgage rules beginning in January so for buyers dealing with the banks, it will cause them to have their buying power reduced by 20% so this may affect pricing. The credit unions are not bound to this but I suspect that they may tighten up their lending rules as a caution to potential market fluctuations. This all may result in a slowdown in the New Year.

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