April 30, 2018 Market Update

Sunshine Coast Detached Listings
Sales down by 22% over the previous year
There are currently 303 detached listings on the Sunshine Coast. This is up from March 31, 2018 when there were 252 detached listings. Detached sales year-to-date ending April 30, 2018: 157 sales, in 2017: 201 sales; in 2016: 387 sales, and in 2015: 178 sales. The current market's hot price range is between $501,000 and $600,000 with 33 sales occurring in this price range. With the current sales pace, this represents approximately a seven and a half month supply of listings.

Sunshine Coast Attached Listings
Sales down by 23% from last year
There are currently 53 current attached listings. This is up from March 31, 2018 when there were 42 attached listings. Attached sales this year-to-date ending April 30, 2018: 57 sales; in 2017: 74 sales; in 2016: 76 sales and in 2015: 52 sales. With the current sales pace this represents an approximate three and a half month supply of listings. Attached listings represent strata unit apartments, condos and townhouses.

Sunshine Coast Land Listings
Sales up 2% over previous year
There are currently 179 bare land listings. This is up from March 31, 2018 when there were 175 land listings. Land sales year-to-date ending April 30, 2018: 56 sales; in 2017: 67 sales; in 2016: 127 sales, and in 2015: 44 sales. With the current sales pace this represents approximately a year and a half supply of listings.

Year-to-Date Detached Sales
  • $000 to $300,000 with 8 sales
  • $301,000 to $400,000 with 5 sales
  •  $401,000 to $500,000 with 22 sales
  • $501,000 to $600,000 with 33 sales
  • $601,000 to $700,000 with 31 sales
  • $701,000 to $ 800,000 with 24 sales
  • $801,000 to $900,000 with 8 sales
  • $901,000 to $1,000,000 with 10 sales
  • 16 sales over a $1,001,000
The Market had Pulled Back

The government measures are having a large effect on the market. The new federal mortgage rules saw the buyer’s mortgage qualification reduced by an average of 20%. The new measures brought in by the provincial government are having a combined effect of reducing the buyer’s confidence. This could be a short term adjustment in the market.

The upper end of the market is seeing the greatest affects with slowing sales and reduced showings. This leaves buyers in a better position to take advantage of a slower market. Well priced homes below $600,000 are a desired commodity.

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