Market Update 12.31.23 Sunshine Coast BC

Dated: January 1 2024

Views: 93

Sunshine Coast BC Real Estate Market Update for December 31st, 2023

Sunshine Coast Detached Listings

Sales down 21% over the previous year

There are currently 242 detached listings on the Sunshine Coast. This is up from December 31st, 2022, when there were 166 detached listings. Detached sales year-to-date ending December 31st, 2023: 390 sales, in 2022: 493 sales, in 2021: 799 sales, in 2020: 764 sales, in 2019: 490 sales, in 2018: 514 sales, in 2017: 725 sales; in 2016: 955 sales, and in 2015: 753 sales. 

Sunshine Coast Attached Listings

Sales up 4% from last year

There are currently 44 current attached listings. This is down from December 31st, 2022, when there were 50 attached listings. Attached sales this year-to-date ending December 31st, 2023: 133 sales, in 2022: 128 sales, in 2021 255 sales, in 2020: 203 sales, in 2019: 137 sales, 2018: 139 sales; in 2017: 234 sales; in 2016: 232 sales and in 2015: 173 sales. Attached listings represent strata unit apartments, condos and townhouses.

Sunshine Coast Land Listings

Sales down 41% over previous year

There are currently 82 bare land listings. This is up from December 31st, 2022, when there were 42 land listings. Land sales year-to-date ending December 31st, 2023: 60 sales, in 2022: 101 sales, in 2021: 227 sales, in 2020: 175 sales, in 2019: 97 sales, 2018: 153 sales; in 2017: 199 sales; in 2016: 386 sales, and in 2015: 161 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 13 sales

$301,000 to $400,000 with 12 sales

$401,000 to $500,000 with 7 sales

$501,000 to $600,000 with 10 sales

$601,000 to $700,000 with 32 sales

$701,000 to $ 800,000 with 46 sales

$801,000 to $900,000 with 50 sales

$901,000 to $1,000,000 with 53 sales

$1,001,000 to $2,000,000 with 133 sales

34 sales over $2,001,000

Off to a Quiet Start in 2023

First off, we would like to wish you a Happy New Year, and may the year ahead be filled with health and happiness for you and your family! 

Just before Christmas we had a little surge of activity and then, as expected, things quieted down through the holidays. Typically, we will see quite an up tick in sales the first few weeks of January as everyone gets their New Year’s plans set into motion. This year it has been quiet, with only a handful of sales each week. 

Is it Buyers waiting for the interest rates to decrease? Is it that the last year of high interest rates has maxed people out financially and the thought of trying to make a move is too much to comprehend? I believe it is a combination of the two - Between people being maxed out financially and the promise/hope of lowering interest rates it only makes sense to wait, right? 

The only issue with that is that if you can buy now and you wait for the interest rates to decrease, that’s when a large number of Buyers are going to be able to afford to get into the market as well, and you may be faced with a lot of competition. Right now is a good time as a Buyer. There is a fair amount of inventory and not many people are able to purchase. We have already seen a decrease in the fixed long terms rates. 

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? 

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

Blog author image

Kenan and Sarah MacKenzie Personal Real Estate Corporation

MacKenzie Real Estate Team was created when Sarah, Kenan's daughter, joined him in Real Estate over 4 years ago. Kenan with 30 years of experience and Sarah with over 4 years of experience have a com....

Latest Blog Posts

Market Update 05.10.24 Sunshine Coast BC

Market Update for April 30, 2024Sunshine Coast Detached ListingsSales up 21% over the previous yearThere are currently 407 detached listings on the Sunshine Coast. This is up from April 30, 2023

Read More

Market Update 03.31.24 Sunshine Coast BC

Market Update for March 31, 2024Sunshine Coast Detached ListingsSales up 10% over the previous yearThere are currently 343 detached listings on the Sunshine Coast. This is up from March 31, 2023

Read More

Market Update 02.29.24 Sunshine Coast BC

Market Update for February 29, 2024Sunshine Coast Detached ListingsSales up 1% over the previous yearThere are currently 264 detached listings on the Sunshine Coast. This is up from February 28,

Read More

Market Update 12.31.23 Sunshine Coast BC

Sunshine Coast BC Real Estate Market Update for December 31st, 2023Sunshine Coast Detached ListingsSales down 21% over the previous yearThere are currently 242 detached listings on the Sunshine.

Read More