Market Update for July 2015

(August 07, 2015 )

Sales are up and listings are down

Sunshine Coast Detached Listings

There are currently 572 detached listings on the Sunshine Coast. This is way down from last year in which there were 762 detached listings. Detached sales year-to-date ending July 31, 2015: 407 sales, in 2014: 345 sales; in 2013: 295 sales, and in 2012: 328 sales. The current market's hot price range is between $300,000 and $400,000 with 130 sales occurring in this price range. With the current sales pace, this represents a 10 month supply of listings.

Sunshine Coast Attached Listings

There are currently 156 attached listings. This is down from July 2014 when there were 201 attached listings. Attached sales this year-to-date ending July 31, 2015: 98 sales; in 2014: 65 sales; in 2013: 54 sales and in 2012: 57 sales. With the current sales pace 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 Listings

There are 440 bare land listings. This is up from June’s 399 listings. Land sales year-to-date ending July 31, 2015:  79 sales; in 2014: 34 sales; in 2013: 32 sales, and in 2012: 42 sales. With the current sales pace this represents a 39 month supply.

Year-to-Date Sales

  •    $000 to $300,000 with 77 sales
  •    $301,000 to $400,000 with 130 sales
  •    $401,000 to $500,000 with 85 sales
  •    $501,000 to $600,000 with 48 sales
  •    $601,000 to $700,000 with 24 sales
  •    $701,000 to $ 800,000 with 10 sales
  •    $801,000 to $900,000 with 9 sales
  •    $901,000 to $1,000,000 with 2 sales
  •    21 sales over a $1,001,000

I have had a few inquiries about the mill’s layoffs and the effect on the Sunshine Coast Real Estate Market. First off let me express to the families and the people laid-off that our thoughts and prayers are with them in this time of change.  The layoffs will affect the economy of the coast for every mill job loss there is multiplier effects in the service industry that will affect everyone from the restaurants, stores to the school teachers. How much the effect will have on the Real Estate market will be determined over the coming months. We are seeing new families move to the coast and the construction industry is moving so new jobs are being created which will help to absorb some of the displaced workers. I do not believe we will see prices suddenly drop or the market reverse its upward trend but I do believe things will dampen a bit but is definitely not a cause for panic. This does highlight the need for the coast to diversify its economy.

The Sunshine Coast is still the best neighborhood in the Lower Mainland and the best value.