Market Update for April 30, 2020
Sunshine Coast Detached Listings
Sales down by 8% over the previous year
There are currently 264 detached listings on the Sunshine Coast. This is down from March 31 when there were 275 detached listings. Detached sales year-to-date ending April 30, 2020: 113 sales, in 2019: 123 sales, in 2018: 156 sales; in 2017: 201 sales, and in 2016: 387 sales. 2020 market’s hot price range was between $501,000 and $600,000 with 26 sales. With the current sales pace, this represents approximately a nine-month supply of listings.
Sales down 10% from last year
There are currently 107 attached listings. This is up from March 31, 2020 when there were 91 attached listings. Attached sales this year-to-date ending April 30, 2020: 32 sales, in 2019: 51 sales; in 2018: 57 sales; in 2017: 74 sales and in 2016: 76 sales. With the current sales pace this represents just over a year’s supply of listings. Attached listings represent strata unit apartments, condos and townhouses.
Sunshine Coast Land Listings
Sales down 38% over previous year
There are currently 210 bare land listings. This is up from up from March 31, 2020 when there were 209 land listings. Land sales year-to-date ending April 30, 2020: 16 sales, in 2019: 26 sales; in 2018: 56 sales; in 2017: 67 sales and in 2016: 127 sales. With the current sales pace this represents approximately a fifty-two-month supply of listings.
Year-to-Date Detached Sales
- $000 to $300,000 with 7 sales
- $301,000 to $400,000 with 6 sales
- $401,000 to $500,000 with 18 sales
- $501,000 to $600,000 with 26 sales
- $601,000 to $700,000 with 24 sales
- $701,000 to $ 800,000 with 9 sales
- $801,000 to $900,000 with 9 sales
- $901,000 to $1,000,000 with 1 sale
- 13 sales over a $1,001,000
Covid-19 where do we go from here?
For the first few months of 2020 the market was doing quite well but since the Covid-19 outbreak it has slowed. We tried to do our part in keeping everyone safe by discouraging Sellers to list and trying to restrict viewings of homes unless necessary. Our fellow colleagues in the industry followed similar social distancing measures in their own business practices which was a contributing factor to the market slowing. It was frankly the only approach to take to keep Buyers and Sellers safe.
Now with the governments easing the restrictions and people wanting to get on with the life, we believe the market is going to start moving, particularly on the Sunshine Coast. I can not imagine what it would be like to isolate in Downtown Vancouver and to practice social distancing. We have so many areas on the Coast that you can go without ever seeing another person which makes social distancing, while maintaining your sanity, a whole lot easier!
As the government has warned we cannot let down our guard and must be cautious. We have established a protocol when showing Buyers our listings to keep our clients as safe as we can in these difficult times. We cannot protect everyone 100% but to limit risk as much as we possibly can is part of our job. We used to worry about legal details of a deal but now we must also consider the health of our client. By wearing a mask and keeping our hands sanitized we are doing our part to prevent the spread of Covid-19. We have bought a supply of disposable masks and sanitizer and for all our listings will have them available. No one should enter another’s home without a mask and sanitizing their hands at this time. For the foreseeable future this is our new normal, we all need to adapt and get used to taking extra precautions to prevent the spread of this virus.
Sunshine Coast is still the best neighborhood in the Lower Mainland and the best value, being 20 to 30 percent lower than comparable areas of the Lower Mainland. Why fight the traffic when you can relax aboard a scenic cruise while catching up on rest or work during the 40 minute commute.
Stay safe and healthy everyone! If you have some money to spare, please consider helping out our local food banks go www.sunshinecoastfoodbankdrive.ca
Call us today with any additional questions, or for a free market evaluation!
604.885.7810 or email: firstname.lastname@example.org
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