Announcement and Market Update for November

(December 03, 2014 )

Announcement
We are excited to announce the upcoming merger of our trusted Sussex organization with a Canadian real estate legend, Royal LePage Real Estate Services Ltd.Our decision to align with Royal LePage was driven by a 2012 announcement that Prudential Real Estate Affiliates would no longer be renewing franchise agreements in Canada.  As Royal LePage is the largest Canadian owned real estate organization in Canada, with over 600 offices and 16,000 REALTORS®, we came to the conclusion that no other company would provide the stability we needed, the tools and training our REALTORS® require, and the support our customers deserve.

Market Update for the Month of November

Detached Sales are up 24.06 % over last year. 

Sunshine Coast Detached listings
There are currently 548 detached listings on the Sunshine Coast. This is up marginally from 2013 where in the same period we had 579 detached listings. Detached sales year –to- date ending November 30, 2014: there are 526, in 2013 there were 424 sales, in 2012 there were 450 and in 2011 there were 440 sales. The current market's hot price range is between$301,000 and $400,000, with 168 sales occurring in this price range. With the current sales pace this represents a ten month supply of listings.

Sunshine Coast Attached Listing
There are 160 current attached listings. This is up slightly over 2013, where in the same period we had 157 attached listings. Attached sales this year to date ending November, 2014 there were 104; in 2013 there were 87 sales; in 2012 there were 85 sales and in 2011 there were 89 sales. With the current pace of sales this represents an 11 month supply of listings. Attached listing represents strata unit apartments, condos and townhouses. Attached property sales are up over the previous years.

Sunshine Coast Land listing
There are 421 bare land listing. This is up slightly from 2013 when we had 378 listings. Land sales year –to- date ending November, 2014:  there were 61 sales, in 2013 there were 53 sales, in 2012 there were 61 sales and in 2011 there were 75 sales. With the current sales pace this represents a seventy-five month supply. 

November sales - the highest over the last 4 years - the trend continues... ·  
  •  $000 to $300,000 with 128 sales     
  •  $301,000 to $400,000 with 168 sales
  •  $401,000 to $500,000 with 88 sales
  •  $501,000 to $600,000 with 59 sales
  •  $601,000 to $700,000 with 33 sales   
  •  $701,000 to $ 800,000 with 23 sales
  •  $801,000 to $900,000 with 6 sales   
  •  $901,000 to $1,000,000 with 8 sales
  • 13 sales over a $1,001,000 this year

Just a note about the stats recorded above, if you are getting information from your Realtor these stats may be different. The Real Estate Board records stats two ways one by the date the sold is processed ie the day a Buyer removes all their subjects from the contract and the other is by the date of the contract is signed by the parties. I have chosen to do the stats by the date of the contract. The Board puts information out to the Realtors by the process date, both will record all sales. Both ways of recording the stats the market on the Sunshine Coast is up 24.06 % over the previous years.

Talking with a few of my colleagues the market does not seem to be taking the seasonal break. November and October were great months for sales, seems like December is going to be busy as well. The inventory is down from August by 23 % giving those Sellers less competition to compete for the Buyers. We had a spike in sales between 600 and 700 very quiet on listings over $800,000.

If the Sale trend continues at the present pace 2015 will be a more balanced market for the Sellers.

Call me today for a free market evaluation or let me help you find your new home - Kenan MacKenzie 604.885.7810 or email me at kenanmackenzie@dccnet.com.