September 30, 2018 Market Update

Sunshine Coast Detached Listings
Sales down by 25% over the previous year

There are currently 371 detached listings on the Sunshine Coast. This is down from August 31, 2018 when there were 383 detached listings. Detached sales year-to-date ending September 30, 2018: 421 sales, in 2017: 561 sales; in 2016: 827 sales, and in 2015: 565 sales. The current market's hot price range is between $601,000 and $700,000 with 80 sales. With the current sales pace, this represents approximately an almost eight month supply of listings.

Sunshine Coast Attached Listings
Sales down by 38% from last year

There are currently 61 current attached listings. This is down slightly from August 31, 2018 when there were 63 attached listings. Attached sales this year-to-date ending September 30, 2018: 116 sales; in 2017: 186 sales; in 2016: 190 sales and in 2015: 127 sales. With the current sales pace this represents a four and a half month supply of listings. Attached listings represent strata unit apartments, condos and townhouses.

Sunshine Coast Land Listings
Sales down 21% over previous year

There are currently 192 bare land listings. This is down from August 31, 2018 when there were 200 land listings. Land sales year-to-date ending September 30, 2018: 127 sales; in 2017: 161 sales; in 2016: 335 sales, and in 2015: 112 sales. With the current sales pace this represents approximately a thirteen and a half month supply of listings.

Year-to-Date Detached Sales

  • $000 to $300,000 with 29 sales
  • $301,000 to $400,000 with 17 sales
  • $401,000 to $500,000 with 34 sales
  • $501,000 to $600,000 with 78 sales
  • $601,000 to $700,000 with 80 sales
  • $701,000 to $ 800,000 with 62 sales
  • $801,000 to $900,000 with 31 sales
  • $901,000 to $1,000,000 with 22 sales
  • 68 sales over a $1,001,000
Has the Lower Mainland slowdown has caught up with us?

September came with a much needed cool down in weather and some rain but it also seemed to cool the Sunshine Coast Real Estate Market. It is not surprising that the market has cooled with all the uncertainty being played out in the news. The new taxes in Vancouver market has not helped things even though we are exempt from the speculation tax and do not have the empty home tax. The report I emailed out last week I believe really represented the feeling being faced by buyer and seller. Sellers are not rushing to reduce, and buyers are hoping they will.

I still feel there are a lot of buyers out there waiting to jump into home ownership and they are looking for some certainty that the market is not going to adjust downwards. When it comes to the Sunshine Coast, I still feel that we are a great deal and did rise to the heights of comparable lower mainland markets.  The good news is that Canada seems to have come to agreement on a new trade agreement with USA and Mexico. The announcement for the LNG out of Kitimat will bring jobs and monies into the province, so things are looking bright.

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 me today with any additional questions, or for a free market evaluation - 604.885.7810 or email: kenan@kenanmackenzie.com