Market Update November 30, 2019

Market Update for November 30, 2019
 Sunshine Coast Detached ListingsSales down by 8% over the previous yearThere are currently 284 detached listings on the Sunshine Coast. This is down from October 31, 2019 when there were 337 detached listings. Detached sales year-to-date ending  November 30, 2019: 461 sales, in 2018:  499 sales; in 2017: 676 sales, and in 2016: 912 sales. 2019 market's hot price range is between $501,000 and $600,000 with 113 sales. With the current sales pace, this represents approximately a seven month supply of listings.Sunshine Coast Attached ListingsSales down 1%  from last yearThere are currently 107 attached listings. This is down from October 31, 2019 when there were 110 attached listings. Attached sales this year-to-date ending  November 30, 2019: 131 sales; in 2018: 132 sales; in 2017: 223 sales and in 2016: 225 sales. With the current sales pace this represents a nine month supply of listings. Attached listings represent strata unit apartments, condos and townhouses.Sunshine Coast Land ListingsSales down 35%  over previous yearThere are currently 212 bare land listings. This is down from October 31, 2019 when there were 219 land listings. Land sales year-to-date ending  November 30, 2019: 96 sales; in 2018: 148 sales; in 2017: 187 sales and in 2016: 37 sales. With the current sales pace this represents approximately a twenty-four month supply of listings. Year-to-Date Detached Sales
  • $000 to $300,000 with 32 sales
  • $301,000 to $400,000 with 19 sales
  • $401,000 to $500,000 with 54 sales
  • $501,000 to $600,000 with 113 sales
  • $601,000 to $700,000 with 84 sales
  • $701,000 to $ 800,000 with 49 sales
  • $801,000 to $900,000 with 37 sales
  • $901,000 to $1,000,000 with 21 sales
  • 62 sales over a $1,001,000
  Busy Month             It seems since the beginning of the month the Buyer’s have come out. Talking with other Realtors everyone’s seems to be busy, why? We can say the federal election is over, the sky did not fall, interest rates are forecasted to stay low but at the end of it, we do not know why. The prices did come off and perhaps buyer’s are seeing an opportunity to purchase, what ever the reason we are seeing a lot of sold signs. The forecasts are for this to continue into the New Year, Vancouver is looking stronger market wise. The one thing that may tip this fairly quickly in favour of the Seller is lack of inventory so we will have to watch closely.Myself and Sarah would like to take this opportunity to wish you a Merry Christmas and a Happy and prosperous New YearThe 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 Sarah MacKenzie778.989.1841 or email: sarah@kenanmackenzie.comKenan MacKenzie604.885.7810 or email: kenan@kenanmackenzie.com