January 31st 2021: Market Update

February 15, 2021

Market Update for January 31, 2021

Sunshine Coast Detached Listings

Sales up by 113% over the previous year

There are currently 131 detached listings on the Sunshine Coast. This is up from December 31, 2020 when there were 119 detached listings. Detached sales year-to-date ending January 31, 2021: 32 sales, in 2020: 15 sales, in 2019: 20 sales, in 2018: 35 sales; in 2017: 32 sales, and in 2016: 44 sales. 2021 market’s hot price range was over $1,001,000.00 with 9 sales. With the current sales pace, this represents approximately a four month supply of listings.

Sunshine Coast Attached Listings

Sales up 325% from last year

There are currently 59 attached listings. This is down from December 31, 2020 when there were 66 attached listings. Attached sales this year-to-date ending January 31, 2021: 17 sales, in 2020: 4 sales, in 2019: 7 sales; in 2018: 11 sales; in 2017: 13 sales and in 2016: 12 sales. With the current sales pace this represents a little more then a 3 month supply of listings. Attached listings represent strata unit apartments, condos and townhouses.

Sunshine Coast Land Listings

Sales up 900% over previous year

There are currently 132 bare land listings. This is down from December 31, 2020 when there were 141 land listings. Land sales year-to-date ending January 31, 2021: 20 sales, in 2020: 2 sales, in 2019: 12 sales; in 2018: 15 sales; in 2017: 15 sales, and in 2016: 17 sales. With the current sales pace this represents approximately a 6.6 month supply of listings.

Year-to-Date Detached Sales

$000 to $300,000 with 2 sales
$301,000 to $400,000 with 1 sale
$401,000 to $500,000 with 1 sale
$501,000 to $600,000 with 4 sales
$601,000 to $700,000 with 6 sales
$701,000 to $ 800,000 with 6 sales
$801,000 to $900,000 with 2 sales
$901,000 to $1,000,000 with 1 sale
9 sales over a $1,001,000

What will this year bring?

What a crazy market we are in! Sales have skyrocketed since this time last year- in all categories, with Land sales leading the way being up 900%. This is even more surprising with how low our inventory is. With so little on the market many would think that would result in less sales overall but not this year- things have amped up even more, even surpassing a very hot market back in 2016.

It has been very much a Sellers market, houses are going under multiple offers and in many cases selling above asking. Listings are under offer nearly before they are even listed. It’s tough out there for Buyer, with so little on the market and homes selling so quickly they hardly have a chance to think before they have to make a decision.

The hot price range in detached homes is over $1,000,000.00 for the second month in a row, with 9 sales, that’s nearly a third of the total sales this month! We used to hover around the $600,000 to $700,000 range having the most sales but this year has really shifted our marked and increased the selling prices of homes dramatically. I don’t think anyone would have predicted such a change in the housing market through this year, especially in the midst of a pandemic. If anything the pandemic seems to have jump started the market rather then crushed it, and not only here on the Sunshine Coast but in many places around the world. We don’t know what 2021 has in store but we are very much hoping that it’s better then 2020 for everyone.

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

604.885.7810 or email: kenan@kenanmackenzie.com

778.989.1841 or email: sarah@kenanmackenzie.com