July 31st 2020

August 10, 2020

Market Update for July 31, 2020

Sunshine Coast Detached Listings

Sales up by 17% over the previous year

There are currently 336 detached listings on the Sunshine Coast. This is down from July 31, 2019 when there were 434 detached listings. Detached sales year-to-date ending July 31, 2020: 324 sales, 2019: 277 sales, in 2018: 330 sales, in 2017: 436 sales, and in 2016: 700 sales. 2020’s hot price range is between $501,000 and $600,000 with 57 sales, but with over $1,001,000 being a close second with 54 sales. With the current sales pace, this represents approximately an seven month supply of listings.

Sunshine Coast Attached Listings

Sales down 25% from last year

There are currently 135 attached listings. This is up from July 31, 2019 when there were 118 attached listings. Attached sales this year-to-date ending July 31, 2020: 67 sales, 2019: 89 sales, in 2018: 100 sales, in 2017: 141 sales and in 2016: 151 sales. With the current sales pace this represents a fourteen month supply of listings. Attached listings represent strata unit apartments, condos and townhouses.

Sunshine Coast Land Listings

Sales up 26%  over previous year

There are currently 217 bare land listings. This is down from up from July 31, 2019 when there were 228 land listings. Land sales year-to-date ending July 31, 2020: 67 sales, 2019: 53 sales, in 2018: 104 sales, in 2017: 122 sales and in 2016: 285 sales. With the current sales pace this represents approximately a twenty-two and a half month supply of listings.

Year-to-Date Detached Sales

  • $000 to $300,000 with 20 sales
  • $301,000 to $400,000 with 15 sales
  • $401,000 to $500,000 with 38 sales
  • $501,000 to $600,000 with 57 sales
  • $601,000 to $700,000 with 53 sales
  • $701,000 to $ 800,000 with 41 sales
  • $801,000 to $900,000 with 34 sales
  • $901,000 to $1,000,000 with 12 sales
  • 54 sales over a $1,001,000

54 Sales over a million year to date, almost the hot price range

It was not that long ago that a sale over a million on the Sunshine Coast was a rarity and was usually a large low bank waterfront home,  now it amounts to a home with a view or a nice acreage. Hard to believe how hot the real estate market is now. I have not seen the market this busy in 26 years of selling on the Coast, homes are selling before they even get on the market. We are seeing multiple offers in all segments of the market. Last week I went out to show 6 homes, going from Roberts Creek to Pender Harbour. 3 of the 6 homes I was showing, were already under offer.

If you are thinking of selling this is a great time to get listed. I am not confident that this market is going to hold for the long term, so I would not delay. Looking at the financial forecasts, and the damage Covid-19 has done, we are not out from under this by any means. At some point the government is going to run out of stimulus monies and we are really going to have a problem. With a lot of people relying on the money coming from the government to pay their bills, as they are out of work or on reduced hours, what are we going to do once it stops? Call us anytime to discuss.

Sunshine Coast is still the best neighbourhood 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 or email: kenan@kenanmackenzie.com

Sarah 778.989.1841 or email: sarah@kenanmackenzie.com