November 30th 2020, Market Update

December 6, 2020

Market Update for November 30, 2020

Sunshine Coast Detached Listings

Sales up by 35% over the previous year

There are currently 159 detached listings on the Sunshine Coast. This is down from October 31, 2020 when there were 215 detached listings. Detached sales year-to-date ending November 30 2020: 706 sales, in 2019: 461 sales, in 2018:  499 sales; in 2017: 676 sales, and in 2016: 912 sales. 2020 market’s hot price range is over $1,001,000 with 140 sales. With the current sales pace, this represents approximately a two-and-a-half-month supply of listings.

Sunshine Coast Attached Listings

Sales up 30% from last year

There are currently 76 attached listings. This is down from October 31, 2020 when there were 86 attached listings. Attached sales this year-to-date ending November 30, 2020: 187 sales, in 2019: 131 sales; in 2018: 132 sales; in 2017: 223 sales and in 2016: 225 sales. With the current sales pace this represents a four-month supply of listings. Attached listings represent strata unit apartments, condos and townhouses.

Sunshine Coast Land Listings

Sales up 39% over previous year

There are currently 171 bare land listings. This is down from October 31, 2020 when there were 189 land listings. Land sales year-to-date ending November 30, 2020: 158 sales, in 2019: 96 sales; in 2018: 148 sales; in 2017: 187 sales and in 2016: 37 sales. With the current sales pace this represents approximately a year’s supply of listings. 

Year-to-Date Detached Sales

  • $000 to $300,000 with 32 sales
  • $301,000 to $400,000 with 30 sales
  • $401,000 to $500,000 with 51 sales
  • $501,000 to $600,000 with 106 sales
  • $601,000 to $700,000 with 137 sales
  • $701,000 to $ 800,000 with 99 sales
  • $801,000 to $900,000 with 71 sales
  • $901,000 to $1,000,000 with 40 sales
  • 140 sales over a $1,001,000

 Busy perhaps Record Setting

In my 26 years selling Real Estate I have not seen a market like we have seen in the last few months. I have never witnessed our inventory at these levels for detached homes. I would like to say that we are a unique market but the case of people leaving the urban centres is something that is happening around the world. People are working from home and realizing they can work anywhere. I think this has caused people to focus on their own priorities and quality of life. The Sunshine is hard to beat in this regard.

Challenges we are facing is inventory, we have Buyer’s but nothing to show them and prices are pushing up. Creates a stress for everyone involved. I have never seen at anytime when sales (140) over a million dollars amount to the most sales of any range. We still see resistance in pricing and people seem to want the home that is complete no renovations required. Pricing is a challenge you watch a home go on the market that seems to be overpriced and sells with multiple offers. 

All the professionals that I talk with are in disbelief of how the economy is behaving with so many sectors suffering. The stock market goes up on the bet of a stimulus package. I think for a lot that are still working, they are driving the market and with interest rates forecasted to stay low, seems like a good time to move.

Sarah and I would like to take this opportunity to wish you a safe and Happy Merry Christmas and prosperous New Year

The Sunshine Coast is still the best neighborhood in the Lower Mainland and the best value. 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 me 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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