February 28th 2022: Market Update

March 10, 2022

Sunshine Coast Detached Listings

Sales down 5% over the previous year

There are currently 95 detached listings on the Sunshine Coast. This is down from February 28, 2021 when there were 133 detached listings. Detached sales year-to-date ending February 28, 2022: 86 sales, in 2021: 91 sales, in 2020: 53 sales, in 2019: 56 sales, in 2018: 70 sales; in 2017: 76 sales, and in 2016: 124 sales. 2021 market’s hot price range was between $1,001,000 and $2,000,000 with 24 sales. With the current sales pace, this represents approximately a three month supply of listings.

Sunshine Coast Attached Listings

Sales down 28% from last year

There are currently 43 attached listings. This is down from February 28, 2021 when there were 48 attached listings. Attached sales this year-to-date ending February 28, 2022: 31 sales, in 2021: 43 sales, in 2020: 16 sales, in 2019: 20 sales; in 2018: 22 sales; in 2017: 38 sales and in 2016: 27 sales. With the current sales pace this represents a two month supply of listings. Attached listings represent strata unit apartments, condos and townhouses.

Sunshine Coast Land Listings

Sales down 18% over previous year

There are currently 56 bare land listings. This is down from February 28, 2021 when there were 125 land listings. Land sales year-to-date ending February 28, 2022: 33 sales, in 2021: 40 sales, in 2020: 12 sales, in 2019: 19 sales; in 2018: 29 sales; in 2017: 29 sales, and in 2016: 40 sales. With the current sales pace this represents approximately five month supply of listings.

Year-to-Date Detached Sales

  • $000 to $300,000 with 0 sales
  • $301,000 to $400,000 with 1 sales
  • $401,000 to $500,000 with 0 sales
  • $501,000 to $600,000 with 3 sales
  • $601,000 to $700,000 with 3 sales
  • $701,000 to $ 800,000 with 8 sales
  • $801,000 to $900,000 with 15 sales
  • $901,000 to $1,000,000 with 9 sales
  • $1,001,000 10 $2,000,000 with 38 sales
  • 8 sales over $2,001,000

Time to Sell

There has never been a better time to sell, prices are at all time highs. If you are thinking of making a move now is the time. It seems every home that comes on the market is getting multiple offers and being bid up and yet sales are down from this time last year. Does this mean the market is taking a down turn? Is it just a fluke? Is it that we just can’t sustain the ever increasing house prices anymore? There are many possibilities but this is the first month in well over a year that I am seeing a down turn in all three categories of real estate (Residential Detached, Residential Attached, and Land) and it makes me a little uneasy. If you are wanting to sell now is the time, this market can’t go up forever.

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- 604.885.7810                       kenan@kenanmackenzie.com

Sarah- 778.989.1841                        sarah@kenanmackenzie.com