January 31st, 2022: Market Update

February 6, 2022

Sunshine Coast Detached Listings

Sales the same as the previous year

There are currently 81 detached listings on the Sunshine Coast. This is down from January 31, 2021 when there were 131 detached listings. Detached sales year-to-date ending January 31, 2022: 32 sales, in 2021: 32 sales, in 2020: 15 sales, in 2019: 20 sales, in 2018: 35 sales; in 2017: 32 sales, and in 2016: 44 sales. 2022 market’s hot price range was between$1,001,000.00 and $2,000,000 with 8 sales. With the current sales pace, this represents approximately a four-month supply of listings.

Sunshine Coast Attached Listings

Sales down 24% from last year

There are currently 32 attached listings. This is down from January 31, 2021 when there were 59 attached listings. Attached sales this year-to-date ending January 31, 2022: 13 sales, in 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 than a 2-month supply of listings. Attached listings represent strata unit apartments, condos and townhouses.

Sunshine Coast Land Listings

Sales down 40% over previous year

There are currently 56 bare land listings. This is down from January 31, 2021 when there were 132 land listings. Land sales year-to-date ending January 31, 2022: 12 sales, in 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 4-and-a-half-month supply of listings.

Year-to-Date Detached Sales

  • $000 to $300,000 with 0 sales
  • $301,000 to $400,000 with 0 sales
  • $401,000 to $500,000 with 0 sales
  • $501,000 to $600,000 with 2 sales
  • $601,000 to $700,000 with 3 sales
  • $701,000 to $ 800,000 with 4 sales
  • $801,000 to $900,000 with 9 sales
  • $901,000 to $1,000,000 with 4 sales
  • $1,001,000 to $2,000,000 with 8 sales
  • 2 sales over $2,001,000

What will this year bring?

It is a crazy market out there right now. There is hardly any inventory, even lower than this time last year when we were already saying that inventory was low, but with a lot of Buyers out there trying to find a home. With the dynamic between low inventory and many Buyers it has caused prices to skyrocket, even more than they already had. Homes are being listed at higher and higher prices and still being bid up with multiple offers.

It’s really hard to know where the market is going to go from here. It is being predicted that the market will hold steady for another year but I don’t think it would take much for this carefully stacked house of cards to come tumbling down. If you want to sell now is definitely the time to do it, homes are not sitting around long before they are snapped up.

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.

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