Market Update August 31, 2015

(September 04, 2015)

Sales are up and listings are down

Sunshine Coast Detached Listings

There are currently 544 detached listings on the Sunshine Coast. This is way downfrom last month in which there were 572 detached listings. Detached sales year-to-date ending August 31, 2015: 471 sales, in 2014: 402 sales; in 2013: 338 sales, and in 2012: 369 sales. The current market's hot price range is between $301,000 and $400,000 with 152 sales occurring in this price range. With the current sales pace, this represents a 9 month supply of listings.

Sunshine Coast Attached Listings

There are currently 148 current attached listings. This is down from July when there were 156 attached listings. Attached sales this year-to-date ending August 31, 2015: 108 sales; in 2014: 79sales; in 2013: 62 sales and in 2012: 62 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 currently431 bare land listings. Land sales year-to-date ending August 31, 2015:  95 sales; in 2014: 40 sales; in 2013: 40 sales, and in 2012: 47 sales. With the current sales pace this represents a 36 month supply.

Year-to-Date Sales
  •     $000 to $300,000 with 86 sales
  •     $301,000 to $400,000 with 152 sales
  •     $401,000 to $500,000 with 96 sales
  •     $501,000 to $600,000 with 54 sales
  •     $601,000 to $700,000 with 27 sales
  •     $701,000 to $ 800,000 with 14 sales
  •     $801,000 to $900,000 with 13 sales
  •     $901,000 to $1,000,000 with 3 sales
  •      23 sales over a $1,001,000
I am watching the fall market to see if things cool down a bit. We have seen a very active market up to now with homes priced below $600,000. The monthly supply of listings is at its lowest level in years sitting at a 9 month supply of listings. My caution is to sustain the market we need jobs right now the construction industry is doing well but our economy needs more than this.

I would keep an open mind on all offers for your home. Do not  focus solely on the price, the other terms are just as important, so before you dismiss the offer as being too low review all the terms and conditions and always counter every offer. An offer represents a buyer who would like to buy your home the offer may seem insulting but put your emotions aside and counter.

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