Market Update for the Month of September

(October 09, 2014 )


Sunshine Coast Detached listings

There are currently 652 current detached listings on the Sunshine Coast this is down over 2013 in the same period we had 672 detached listings. Detached sales year to date ending September 30 there are 426, in 2013 there were 367sales, in 2012 there were 382 and in 2011 there were 379 sales. The current market’s hot price range is between$300,000 and $400,000, with a 151 sales occurring in this price range. With the current pace of sales this represents an 14 month supply of listings.

Sunshine Coast Attached Listing

There are 185 current attached listings this is up over 2013 in the same period we had 139 attached listings. Attached sales year to date ending September 30, 2014 there were 82, in 2013 there were 70 sales, in 2012 there were 75 sales and in 2011 there were 84 sales. With the current pace of sales this represents a 20 month supply of listings. Attached listing represents strata unit apartments, condos and townhouses. Attached sales are up slightly over the previous year

Sunshine Coast Land listing

There are 439 bare land listing this is up slightly from 2013 when we had 436 listings. Land sales year to date ending September 30 there were 46 sales, in 2013 there were 45 sales, in 2012 there were 49 sales and in 2011 there were 66 sales. With the current pace of sales this represents a 85 month supply.

September sales the highest over the last 4 years the trend continues

Year to September 30, 2014 sales by price range

$000 to $300,000 with 104 sales
$301,000 to $400,000 with 144 sales ( 7 sales occurred at $300,000.)
$401,000 to $500,000 with 65 sales
$501,000 to $600,000 with 49 sales
$601,000 to $700,000 with 24 sales
$701,000 to $ 800,000 with 17 sales
$801,000 to $900,000 with 5 sales
$901,000 to $1,000,000 with 6 sales
12 sales over a $1,001,000 this year

We are starting to see the seasonal adjustments of our inventory, across the board our listings inventory fell during the month of September. This is partially due to sales but the other is property owners taking their homes and property off the market for the winter. Only to return and try again in the spring with the return of daffodils so will the Real Estate signs. The thing is we have buyers who look all year round and for the Seller who brave the winter will have less competition for their homes.

On September 3 the Bank of Canada announced it is holding overnight lending rate at one per cent. We have not seen a rate increase for 4 years and most economists are predicting it will remain low for some time. There is a great amount of uncertainty in the Global economies and with the Canadian Inflation rate remaining low there is little pressure to raise the rate. So it is a great time to Buy your home!

– Kenan