Market Update October 2015

(November 05, 2015)

Sunshine Coast Detached Listings
Sales up by 16 % over the previous year

There are currently 398 detached listings on the Sunshine Coast. This is way down from last month in which there were 512 detached listings’ Detached sales year-to-date ending October 31, 2015: 626 sales, in 2014: 500 sales; in 2013: 405 sales, and in 2012: 433 sales. The current market's hot price range is between $301,000 and $400,000 with 126 sales occurring in this price range. With the current sales pace, this represents a 6 month supply of listings.

Sunshine Coast Attached Listings
Sales up by 44 % over the previous year

There are currently 134 current attached listings. This is down from September when there were 142 attached listings. Attached sales this year-to-date ending October 31, 2015: 140 sales; in 2014: 97sales; in 2013: 80 sales and in 2012: 83 sales. With the current sales pace this represents a 9 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

Sales up by 113 % over the previous year


There are currently 382 bare land listings. This is down from September when there were 433 land listings. Land sales year-to-date ending October 31, 2015:  130 sales; in 2014: 61 sales; in 2013: 50 sales, and in 2012: 59 sales. With the current sales pace this represents a 29 month supply.

Year-to-Date Sales
  • $000 to $300,000 with 120 sales
  • $301,000 to $400,000 with 183 sales
  • $401,000 to $500,000 with 131sales
  • $501,000 to $600,000 with 80 sales
  • $601,000 to $700,000 with 38 sales
  • $701,000 to $ 800,000 with 21 sales
  • $801,000 to $900,000 with 17 sales
  • $901,000 to $1,000,000 with 3 sales
  •  30 sales over a $1,001,000

We are now in a balanced market with Detached Listings. A balanced market is considered by definition to be a market where on average a home takes 3 to 6 months to sell or a market where 40 to 60% of new listings sell in a month. On the current pace of sales to listings we will be into a Sellers’ market next year. Prices have been moving up this year at the lower end of the market, where most of the sales have been concentrated. As inventory gets depleted we will see the activity at the upper end increase.

Buyers are finding it hard to find what they are looking for and turning to buying raw land and building their dream home. We can see this in the lands sales up by 113 % and the building trades are busy.

Where can you find in the lower mainland a family home for under $400,000? We still have still have plenty of listings under that price. For example 5736 Emily Way in Sechelt is a 1620 sq ft home ,10 years old with a garage.

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