Market Update for March 2015

(April 03, 2015)

Active Detached listing fall by 18% over previous year

Sunshine Coast Detached Listings

There are currently 547 detached listings on the Sunshine Coast. This is up from last month there when there were 514 detached listings. Detached sales year-to-date ending March 31, 2015: there are 100 in 2014 there were 105 sales, in 2013 there were 99 and in 2012 there were 122 sales. The current market's hot price range is between$0 and $400,000, with 55 of the 100 sales occurring in this price range. With the current sales pace this represents a sixteen month supply of listings.

Sunshine Coast Attached Listings

There are 178 current attached listings. This is up slightly over 2014, where in the same period we had 157 attached listings. Attached sales this year to date ending March 31, 2015 there were 22; in 2014 there were 28 sales; in 2013 there were 25 sales and in 2012 there were 26 sales. With the current pace of sales this represents a 24 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 415 bare land listings. This is up from 2014 when we had 380 listings. Land sales year-to-date ending March 31, 2015:  there were 23 sales, in 2014 there were 10 sales, in 2013 there were 12 sales and in 2012 there were 13 sales. With the current sales pace this represents a 54 month supply.

Year-to-Date Sales  
  •       $000 to $300,000 with 24 sales
  •       $301,000 to $400,000 with 31 sales
  •       $401,000 to $500,000 with 24 sales
  •       $501,000 to $600,000 with 9 sales
  •       $601,000 to $700,000 with 5 sales
  •       $701,000 to $ 800,000 with 3 sales
  •       $801,000 to $900,000 with 1 sales
  •       $901,000 to $1,000,000 with 0 sales
  •       3 sales over a $1,001,000 this year

In active listings we are seeing a steady decline over previous years. This is likely a sign that we are heading for a more balanced market. The interesting note is land sales are up by 77% over the next highest sales volume in 4 years. Good bare land sales are important. They mean jobs, home construction, with multiplying opportunities for employment; in short it represents economic growth. With the falling oil prices, the Bank of Canada will respond and has responded with monetary loosening i.e.: the drop in interest rate. Watch over the next few months because I believe the Federal Government will be very careful to keep our economy rolling by providing stimulus.

Also, the market will continue to be well served by the baby boomers who are following through on their dreams of moving to the Sunshine Coast. I personally believe we are moving into an up-cycle and this will bring a greater movement of people to the Coast. Everyone desires to live in paradise.

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