Market Update for February 2015

(March 06, 2015)


Sunshine Coast Detached Listings

There are currently 514 detached listings on the Sunshine Coast. This is up from last month there was 462 detached listings. Detached sales year-to-date ending February 28, 2015: there are 52 in 2014 there were 52 sales, in 2013 there were 61 and in 2012 there were 66 sales. The current market's hot price range is between$0 and $400,000, with 34 of the 52 sales occurring in this price range. With the current sales pace this represents a nineteen month supply of listings.

Sunshine Coast Attached Listings

There are 166 current attached listings. This is up slightly over 2014, where in the same period we had 152 attached listings. Attached sales this year to date ending February 28, 2015 there were 13; in 2014 there were 20 sales; in 2013 there were 10 sales and in 2012 there were 15 sales. With the current pace of sales this represents a 25 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 Listings

There are 395 bare land listing. This is up from 2013 when we had 365 listings. Land sales year –to- date ending February 28, 2015:  there were 15 sales, in 2014 there were 6 sales, in 2013 there were 9 sales and in 2012 there were 8 sales. With the current sales pace this represents a 52 month supply. I was looking at the sales and 10 of the 15 sales occurred in the Gibsons / Roberts Creek area.

Year to Date Sales
  •         $000 to $300,000 with 15 sales
  •         $301,000 to $400,000 with 19 sales
  •         $401,000 to $500,000 with 10 sales
  •         $501,000 to $600,000 with 3 sales
  •         $601,000 to $700,000 with 3 sales
  •         $701,000 to $ 800,000 with 1 sales
  •         $801,000 to $900,000 with 0 sales
  •         $901,000 to $1,000,000 with 0 sales
  •         1 sales over a $1,001,000 this year
Just looking over some of the stats : There have been two sales over $700,000 this year and there are 143 active listings. The total sales for the last 14 months have been 62 sales making the monthly supply for the price range over $700,000, 32 months. Below $700,000 there are 371 active listings and 579 sales for the last 14 months making the monthly supply for this price range 9 months. When I look at the price range between $300,000 and $400,000 the monthly supply drops to 6.84 months. What does this mean if you are selling a home over $700,000? We need more buyers. Generally the lower end of the market moves first followed by the higher end of the market. The lower end of the market is definitely moving toward a more balanced market. 

 I believe that we will see our market sales continue to increase over 2015 for several factors, % rates are forecasted to remain low, first time home buyers finding they can own for the price of rent, Chinese investment on the coast, Canadian migration from other parts of BC and the frigid east, retiring Baby Boomers, US investment due to low Canadian Dollar and repatriation of Canadian Investments in the US during the financial crisis.

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 .