June 30th Market Update

Sunshine Coast Detached Listings

Sales down 24% over the previous year

There are currently 257 detached listings on the Sunshine Coast. This is up from June 30, 2021 when there were 193 detached listings. Detached sales year-to-date ending June 30, 2022: 332 sales, in 2021: 434 sales, in 2020: 221 sales, in 2019: 237 sales, in 2018: 276 sales, in 2017: 370 sales; in 2016: 623 sales, and in 2015: 345 sales. The current market's hot price range is between $1,001,000 to $2,000,000 with 145 sales occurring in this price range. With the current sales pace, this represents approximately a four and a half month supply of listings.

Sunshine Coast Attached Listings

Sales down 37% from last year

There are currently 46 attached listings. This is down from June 30, 2021 when there were 52 attached listings. Attached sales this year-to-date ending June 30, 2022: 95 sales, in 2021: 151 sales, in 2020: 48 sales, in 2019: 79 sales, in 2018: 92 sales; in 2017: 123 sales; in 2016: 131 sales and in 2015: 87 sales. With the current sales pace this represents roughly a three 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 77 bare land listings. This is down from June 30, 2021 when there were 116 land listings. Land sales year-to-date ending June 30, 2022: 87 sales, in 2021: 146 sales, in 2020: 40 sales, in 2019: 47 sales, 2018: 91 sales; in 2017: 104 sales; in 2016: 244 sales, and in 2015: 75 sales. With the current sales pace this represents approximately a five month supply of listings.

Year-to-Date Detached Sales

• $000 to $300,000 with 4 sales

• $301,000 to $400,000 with 4 sales

• $401,000 to $500,000 with 6 sales

• $501,000 to $600,000 with 8 sales

• $601,000 to $700,000 with 8 sales

• $701,000 to $800,000 with 32 sales

• $801,000 to $900,000 with 53 sales

• $901,000 to $1,000,000 with 39 sales

• $1,001,000 to $2,000,000 with 145 sales

• 32 sales over $2,001,000

A Slow in the Market

The opening statement of our Market Update last year was:

"This last month we have seen a definite slow in the market. Things are still moving along well but not flying off the shelves like they were a few months ago. Buyers are able to get into homes without having to forgo inspections or offer way above asking, which has been a welcome change for all of them!"

It's interesting because it is a similar feeling to what we have now. This year we have slowed the last few months largely due to the rising interest rates but it is also a time where families are going on vacation, people are taking time off to relax and getting some much needed R&R. This is a natural time for the market to quiet. I will be curious to see what happens in the fall when the market would tend to pick up - Will the interest rates keep the market quiet? Or will we see another upswing? It's "a crystal ball agazing" as one might say but it's a beautiful time of year here on the Sunshine Coast and I hope everyone is enjoying it.

The 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. 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