April 30th 2021: Market Update

June 28, 2021

Market Update for April 30, 2021

Sunshine Coast Detached Listings

Sales up by 148% over the previous year

There are currently 178 detached listings on the Sunshine Coast. This is up from March 31 when there were 161 detached listings. Detached sales year-to-date ending April 30, 2021: 280 sales, in 2020: 113 sales, in 2019: 123 sales, in 2018: 156 sales; in 2017: 201 sales, and in 2016: 387 sales. 2021 market‘s hot price range was between $1,001,000 to $2,000,000 with 80 sales. With the current sales pace, this represents approximately a two and a half month supply of listings.

Sales up 225% from last year

There are currently 45 attached listings. This is down from March 31 when there were 52 attached listings. Attached sales this year-to-date ending April 30, 2021: 104 sales, in 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 approximately a two month supply of listings. Attached listings represent strata unit apartments, condos and townhouses.

Sunshine Coast Land Listings

Sales up 506% over previous year

There are currently 129 bare land listings. This is up from up from March 31 when there were 127 land listings. Land sales year-to-date ending April 30, 2021: 97 sales, in 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 five month supply of listings.

Year-to-Date Detached Sales

  • $000 to $300,000 with 10 sales
  • $301,000 to $400,000 with 3 sales
  • $401,000 to $500,000 with 4 sales
  • $501,000 to $600,000 with 15 sales
  • $601,000 to $700,000 with 38 sales
  • $701,000 to $ 800,000 with 50 sales
  • $801,000 to $900,000 with 33 sales
  • $901,000 to $1,000,000 with 29 sales
  • ·         $1,001,000 to $2,000,000 with 80 sales
  • 16 sales over $2,001,000

96 Sales over a million so far this year

Last year at the end of April I made the following statement “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 Vancouver and to social distance. We have so many areas on the Coast that you can go without ever seeing another person.”  I did believe that we would see an uptick in the market but never dreamed of what has taken place over the last year. It is hard to fathom that there have been ninety-six sales over a million so far this year. Last year at the same time we had fifty-six sales over $601,000. Bare Land sales are up over 506 percent, is this sustainable?

I asked another realtor that’s client had lost out in multiple offer bid, in what I consider a high offer, how much they were putting down, 10 percent was the reply. I have seen a few markets in my career and the smallest pull back from the high was 15%. If we are flirting with the highs and the market pulls back only 15 % then this would leave this client in a negative position by 5%. All the clients that I have been dealing with are local or from the lower mainland. This market is not being pushed by overseas investors, it is a domestic market.

If you are thinking of selling this is the market and there are plenty of buyers, for your home but like all markets they come to an end. Do not try to judge the peak because waiting for the peak you will miss out. There are risks in every situation call us for answers?

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! 

Call us today with any additional questions, or for a free market evaluation!

Kenan MacKenzie   604.885.7810 or email: kenan@kenanmackenzie.com  

Sarah MacKenzie 778-989-1841 or email: sarah@kenanmackenzie.com