Sunshine Coast Detached Listings
Sales down 29% over the previous year
There are currently 352 detached listings on the Sunshine Coast. This is up from October 31st, 2022, when there were 256 detached listings. Detached sales year-to-date ending October 31st, 2023: 324 sold, in 2022: 454 sales, in 2021: 699 sales, in 2020: 620 sales, in 2019: 424 sales, in 2018: 469 sales; in 2017: 625 sales, and in 2016: 870 sales. The 2023 Market's hot price range is $1,001,000 to $2,000,000 with 182 sales.
Sunshine Coast Attached Listings
Sales down 1% from last year
There are currently 63 attached listings. This is up from October 31st, 2022, when there were 59 attached listings. Attached sales this year-to-date ending October 31st, 2023: 116 sales, in 2022: 120 sales, in 2021: 224 sales, in 2020: 163 sales, in 2019: 120 sales; in 2018: 125 sales; in 2017: 207 sales and in 2016: 207 sales. Attached listings represent strata unit apartments, condos and townhouses.
Sunshine Coast Land Listings
Sales down 48% over previous year
There are currently 122 bare land listings. This is up from October 31st, 2022, when there were 75 land listings. Land sales year-to-date ending October 31st, 2023: 51 sales, in 2022: 98 sales, in 2021: 204 sales, in 2020: 131 sales, in 2019: 80 sales; in 2018: 139 sales; in 2017: 173 sales and in 2016: 353 sales.
Year-to-Date Detached Sales
• $000 to $300,000 with 11 sales
• $301,000 to $400,000 with 9 sales
• $401,000 to $500,000 with 5 sales
• $501,000 to $600,000 with 8 sales
• $601,000 to $700,000 with 26 sales
• $701,000 to $800,000 with 36 sales
• $801,000 to $900,000 with 43 sales
• $901,000 to $1,000,000 with 43 sales
• $1,001,000 to $2,000,000 with 115 sales
• 28 sales over $2,001,000
Inventory is Still Low
We are in the doldrums of a market but when I look at inventory, we are still low, and we know from the news that there is a shortage of housing. Buyers for the most part are sitting on the fence waiting for prices to a fall further or for interest rates to decline. Buyers would love to get into the market and leave the uncertainty of renting behind them, but what can they afford?
Our economy is threatening to slip into a recession if we are not already in one, and cracks are appearing with mortgages coming due. We have so many variables going on in the world that it feels hard to know what to do. Sellers if they want to sell are going to have to look hard at their asking price: Homes are selling, but they need to price right. Buyers have an opportunity now, but that may close quickly. In the last turn of the market, we had 765 detached listings available compared to today with 352 detached listings. This past week, the bond markets were coming down and if this continues, we will see the long-term rates fall. Economists are predicting rate cuts in 2024. If you are looking for the bottom as a buyer, be careful, you may find yourself back in multiple offers next year.
The 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.