July 31st Sunshine Coast Real Estate Market Update

Sunshine Coast Detached Listings

Sales down by 30% over the previous year

There are currently 348 detached listings on the Sunshine Coast. This is up from July 31st, 2022 when there were 265 detached listings. Detached sales year-to-date ending July 31st, 2023: 250 sales, in 2022: 357 sales, in 2021: 507 sales, in 2020: 324 sales, 2019: 277 sales, in 2018: 330 sales, in 2017: 436 sales, and in 2016: 700 sales. 2023’s hot price range is between $1,001,000 to $2,000,000 with 92 sales.

Sunshine Coast Attached Listings

Sales down 12% from last year

There are currently 60 attached listings. This is up from July 31st, 2022 when there were 37 attached listings. Attached sales this year-to-date ending July 31st, 2023: 90 sales, in 2022: 102 sales, in 2021: 164 sales, in 2020: 67 sales, 2019: 89 sales, in 2018: 100 sales, in 2017: 141 sales and in 2016: 151 sales.

Sunshine Coast Land Listings

Sales down 62% over previous year

There are currently 114 bare land listings. This is up from up from July 31st, 2022 when there were 84 land listings. Land sales year-to-date ending July 31st, 2023: 35 sales, in 2022: 91 sales, in 2021: 159 sales, in 2020: 67 sales, 2019: 53 sales, in 2018: 104 sales, in 2017: 122 sales and in 2016: 285 sales.

Year-to-Date Detached Sales

• $000 to $300,000 with 8 sales

• $301,000 to $400,000 with 5 sales

• $401,000 to $500,000 with 3 sales

• $501,000 to $600,000 with 6 sales

• $601,000 to $700,000 with 22 sales

• $701,000 to $ 800,000 with 28 sales

• $801,000 to $900,000 with 34 sales

• $901,000 to $1,000,000 with 34 sales

• $1,001,000 to $2,000,000 with 92

• 22 sales over $2,001,000

Buyers gone or just on Vacation?

The August Market is upon us. On top of an already quiet Market, it has been feeling a little extra sleepy out there and I think that is largely due to everyone being out and about enjoying the last bit of summer. The recent interest rate increases, with the threat of more, have had an impact on our Housing Market, but late summer is also a historically quiet time in the market.

Some economists are saying that the Bank of Canada is done with interest rate increases, while others worry that we will have another increase in September. If we see inflation continue the down shift or at least hold steady, I hope that the interest rates will also stay the same. Many homeowners are struggling with the increases and even regretting taking on their current mortgages. With the cost of living already so high, having major increases in mortgage payments is a huge stress on homeowners. Hopefully the September announcement brings good news.

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