May 31st, 2020

June 6, 2020

Wondering what our local housing market has been doing lately? 🤔
🏡 Market Update for May 31, 2020 🏡
Sunshine Coast Detached Listings
Sales down by 13% over the previous year
There are currently 307 detached listings on the Sunshine Coast. This is up from April 30 when there were 264 detached listings. Detached sales year-to-date ending May 31, 2020: 148, in 2019: 170 sales, in 2018: 224 sales; in 2017: 281 sales, and in 2016: 519 sales. 2020 market’s hot price range was between $501,000 and $600,000 with 31 sales. With the current sales pace, this represents approximately a ten month supply of listings.
Sunshine Coast Attached Listings
Sales down 47% from last year
There are currently 113 attached listings. This is down from April 30 when there were 107 attached listings. Attached sales this year-to-date ending May 31, 2020: 35 sales, in 2019: 66 sales; in 2018: 79 sales; in 2017: 101 sales and in 2016: 109 sales. With the current sales pace this represents a sixteen month supply of listings. Attached listings represent strata unit apartments, condos and townhouses.
Sunshine Coast Land Listings
Sales down 38% over previous year
There are currently 222 bare land listings. This is up from up from April 30 when there were 210 land listings. Land sales year-to-date ending May 31, 2020: 24 sales, in 2019: 39 sales; in 2018: 81 sales; in 2017: 85 sales and in 2016: 203 sales. With the current sales pace this represents just shy of a 4 year supply of listings.
Year-to-Date Detached Sales
• $000 to $300,000 with 10 sales
• $301,000 to $400,000 with 8 sales
• $401,000 to $500,000 with 22 sales
• $501,000 to $600,000 with 31 sales
• $601,000 to $700,000 with 28 sales
• $701,000 to $ 800,000 with 16 sales
• $801,000 to $900,000 with 12 sales
• $901,000 to $1,000,000 with 1 sales
• 20 sales over a $1,001,000
May has started with a BANG 💣
In chatting with my colleagues, the consensus is that everyone is particularly busy with Buyers at the moment but that we are also seeing a lot of new listings coming on the market too. Most Realtors shut down during March and April as much as they could to protect their clients. With BC opening things up a bit, and the availability of masks and sanitizer, the market has jumped back into gear. In the last few months we have had to change the way we do business; by wearing facemasks, having clients sign Covid-19 waivers and implementing sanitizing protocols we are doing our best to keep everyone safe. Everyone has been very good about following the guidelines and doing their part to prevent the spread of the virus. We are seeing a lot of Buyers from the lower mainland looking for an area with more natural space and separation from neighbours. I know for myself that during March and April it was easy to practice social distancing and enjoy time on our property. With the many Sunshine Coast forest trails to enjoy it is easy to stay isolated while still being able to get out and be active. For most Coast residents in was not hardship to endure the lock down.
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

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