sunshine coast real estate

Home Prices Remain Strong On The Sunshine Coast BC

The month of February 2017 real estate housing market update finds prices remained strong month over month and since February 2016 while low inventory keeps the market volume low.

 

Overall, the real estate market on the Sunshine Coast is strong with the HPI (Housing Price Index) up 27% over last year to $506,100 and trending in the positive for the long term.

 

Total dollar volume for the month of February is down 21.2% across the Sunshine Coast to $38,319,300.

 

Unit sales are down 31.7% over February 2016 with 69 homes and property sold, while the average price of all property is $555,352 up 15.3% and a sales success ratio of 26%.

 

The housing market continues to be competitive for home buyers on the Sunshine Coast with inventory levels of 269 available homes and land for sale, down 37% and 80 newly listed for sale in February.

 

Detached Home Sales

The detached real estate market for February on the Sunshine Coast surged with sales doubling to $29,074,000 over January. Unit sales totaled 44.

The average price of a detached home grew 28% to $514,315.

The number of homes for sale remains even at 213 units with 62 new homes listed for sale. Sales success ratio was 21%.

 

Condo, Townhome and Apartment Sales

Condo, townhome and apartment sales for the month of February on the Sunshine Coast totaled $9,245,300 double again month over month along with unit sales of 25.

 

The number of active attached homes for sale dipped 17% to 44 units with a sale success ratio of a whopping 57%.

 

Average price of an apartment, condo and townhome on the Sunshine Coast BC jumped 10% to $382,533 for the month of February.

 

Land-Only Sales

The Sunshine Coast land-only real estate market is on a roller-coaster ride with sales activity moving up and down drastically over the past few months.

Sales volume came in at $2,984,462 in February with 14 units sold. The average price of bare-land property settled back into long-term averages at $213,175 down 70% while the sales-success ratio remained even at 6%.

Active listings totalled 225 with 24 newly listed land-only properties in February mirrored last month’s numbers.

 

Summary

Sellers, the sweet spot for a quick sale, average 67 days on market, is in the $400,000-$500,000 range for detached homes and $200,000-$300,000 for attached homes such as apartments, condos and townhomes.

 

Buyers, it remains to be prepared to move quickly to purchase your ideal home, which means speaking to your mortgage broker and having contingencies in place and ready to go. Multiple offers are not uncommon on certain properties and homes.

Timing, pricing and location are the biggest factors in how quickly a property will sell in a busy market like the Sunshine Coast BC.

 

Speak with a REALTOR® licensed in your area to gain insights into current real estate market activity in your neighbourhood.

 

For all your real estate buying, selling and investment needs on the Sunshine Coast BC contact Russ Qureshi and his team at http://coastlifestyles.ca

 

 

 

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New Listing! Luxury Waterfront Living in Gibsons British Columbia

58 Clark Road Gibsons British Columbia

LUXURY WATERFRONT living in Gibsons British Columbia. Custom home built with quality and craftsmanship nestled on a premium high-bank waterfront. Designed by Lori Steeves and built by Longman Developments featuring 5,644 sqft of living space and .495 acres of manicured gardens, patio and lawns.

Inside boast geothermal heating w/ HVAC system, elevator for easy mobility, custom flooring, tile and cabinet work, quartz and granite counters, vaulted ceilings, 3 gas fireplaces to cozy up to, 5 pc master bedroom ensuite with Carrera marble walk-in shower, guest suite/studio over the garage, mud room and laundry, water filtration system & built-in wifi/sound system.

Dine on the upstairs balcony or relax on the lawn and watch the cruise ships sail past. Unsurpassed views and beauty in the loveliest West Coast location!

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New Listing! Gibsons Heritage Hills Cottage Charmer With Views

Gibsons Heritage Hills cottage – 616 Bals Lane

Gibsons Heritage Hills cottage charmer with ocean and island views. Privacy and quiet are yours just minutes away from the hustle. This solid old-timer is lovingly updated with newer kitchen and bathroom. Large windows bring the outdoors in and wood burning fireplace makes it cozy. Start your Coast Lifestyle today!

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Coast-Mountains-BC Sunshine coast

Shift In Buying Habits Trend Toward Condos, Townhomes And Land

The new year ushers in a shift in purchasing habits across the Sunshine Coast real estate market.

 

Condos, townhomes and bare land are trending on a high note while detached homes sales and prices are down.

 

Overall, the real estate market on the Sunshine Coast is strong with the HPI (Housing Price Index) up 23% over last year to $462,767 and trending in the positive for the long term.

 

Total dollar volume for the month of January is down 17.9% across the Sunshine Coast to $20,922,163.

 

Unit sales are down 19.6% over January 2016 with 45 homes and property sold, while the average price of all property is $464,937 up 2.2% and a sales success ratio of 16.5%.

 

The housing market continues to be competitive for home buyers on the Sunshine Coast with inventory levels of 489 available homes and land for sale, down 36% and 106 newly listed for sale in January.

 

Detached Home Sales

 

Detached home sales for the month of January on the Sunshine Coast settled at $16,458,087 down 36% from the month before. Unit sales totaled 32.

 

The average price of a detached home dipped 15% to $514,315 for the month of January.

 

The number of homes for sale remains unchanged at 211 units with 66 new homes listed for sale. Sales success ratio at 15%.

 

Condo, Townhome and Apartment Sales

 

Condo, townhome and apartment sales for the month of January on the Sunshine Coast totaled $4,464,076 double last month with unit sales doubling to 13.

 

The number of active attached homes for sale remained steady at 53 units with a sale success ratio of 24%.

 

Average price of an apartment, condo and townhome on the Sunshine Coast BC back-stepped 5% to $347,136.

 

Land-Only Sales

 

The Sunshine Coast land-only real estate market is on a roller-coaster ride with sales activity moving up and down drastically over the past few months.

 

Sales volume spiked to 230% in January with 15 units sold. The average price of bare-land property tripled to $689,706 with a sales-success ratio of 7%.

 

This months’ land-only sales are skewed by a very large sale at Pirate Blue Rd in Port Mellon, a 250+ acre property encompassing 39 titles and 4,300 feet of waterfront, sold this past month for $6,600,000.

Active listings totalled 225 with 24 newly listed land-only properties in January.

 

Sunshine Coast Real Estate Trends Summary

 

Sellers, be aware that prices are changing rapidly, week over week and seasonally, in all segments of the market. Sale prices quoted last month will necessarily be reviewed and revise.

 

Buyers, it remains to be prepared to move quickly to purchase your ideal home, which means having your financing and other contingencies in place. Multiple offers are not uncommon on certain properties and homes.

 

Timing, pricing and location are the biggest factors in how quickly a property will sell in a busy market like the Sunshine Coast BC.

 

Speak with a REALTOR® licensed in your area to gain insights into current real estate market activity in your neighbourhood.

 

For all your real estate buying, selling and investment needs on the Sunshine Coast BC contact Russ Qureshi and his team at http://coastlifestyles.ca

 

 

 

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New Listing! Character Home In Heritage Hills Gibsons

608 Bals Lane, Gibsons

Ocean and island views from this custom-built character home in desirable Heritage Hills. Entirely renovated in 2006 and boasting 2 beds, 2 full baths plus den & office, a hot tub on the deck overlooking Gibsons Creek. The double lot affords privacy and options. It feels like your living a rural lifestyle but you are walking distance to all the amenities of lower Gibsons.

 

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New Listing: Waterfront acreage in Halfmoon Bay

8141 Redrooffs Rd Halfmoon Bay

Waterfront acreage in desirable Halfmoon Bay neighbourhood offers privacy and opportunity. Enjoy the possibility of developing 1.5 acres into your dream home or hold for investment. Current mobile home is tenanted and boasts newer roof, natural gas furnace and electrical upgrades. Make use of the sleeping cabin and solid stairs to viewing deck facing south-west to the Georgia Straight. Start your Coast Lifestyle today!

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Vancouver downtown building reflection

Year-End Housing Market Smashes All Records On The Sunshine Coast

Year in Review

Sunshine Coast housing market of 2016 was the strongest ever smashing records across all areas of the coast.

HPI (Housing Price Index) closes out the year at $453,983 up 22% over last year. Total dollar sales year ending topped out at $635,386,149 up 55.8% with 1,187 homes and property sold. A banner year all around.

Looking ahead, 2017 proves to be interesting year with steady demand tempered with a sense of caution from buyers due to government intervention last year. Prices should remain steady with the continuation of low inventory levels.

 

December 2016

Total dollar volume for the month of December is down 15% across the Sunshine Coast to $31,478,730.

Unit sales of 50 are down 32.4% while the average price of all property is $484,288 and a sales success ratio of 13%.

The housing market continues to be competitive for home buyers on the Sunshine Coast with inventory levels dropping slightly to 489 available properties for sale and 40 newly listed.

 

Detached Home Sales

Detached home sales for the month of December on the Sunshine Coast settled at $25,660,170 down slightly from the month before. Unit sales totaled 43.

The average price of a detached home leveled out for the year at $596,748.

The number of homes for sale totaled 212 units with 26 new homes listed for sale. Sales success ratio remained at 20%.

Year-to-date sales for detached homes in December totaled $556,958,393 with 952 detached homes sold.

 

Condo, Townhome and Apartment Sales

Condo, townhome and apartment sales for the month of December on the Sunshine Coast totaled $2,670,250 with 7 units sold.

The number of active attached homes for sale remained steady at 50 units with a sale success ratio of 14%.

Average price of an apartment, condo and townhome on the Sunshine Coast BC dropped 9% to $366,552.

Year-to-date sales volume increased 54% to $76,648,701 over last year with 231 units sold so far.

 

Land-Only Sales

The Sunshine Coast land-only real estate market is on a roller-coaster ride with sales activity moving up and down drastically over the past few months.

Sales volume dropped 50% to $3,148,310 in December with 15 units sold. The average price of bare-land property is $209,887 with a sales-success ratio of 7%.

Year-to-date sales are on trend for the year more than doubling to $108,427,077 up 114%. Unit sales for the year is 386.

 

Summary

Keep in mind averages are just that, average. It’s a place to benchmark activity month over month and year after year.

Many factors play into the numbers and working with a REALTOR® with a solid grounding in the numbers and what they mean to your investment as well as genuine care and enjoyment helping people reach their dreams is key in being successful in real estate.

Timing, pricing and location are the biggest factors in how quickly a property will sell in a busy market like the Sunshine Coast BC.

Speak with a REALTOR® licensed in your area to gain insights into current real estate market activity in your neighbourhood.

For all your real estate buying, selling and investment needs on the Sunshine Coast BC contact Russ Qureshi and his team at http://coastlifestyles.ca

 

 

 

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New Listing! Coastal Getaway That Doesn’t Break The Bank

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This modest mobile home is located in one of the best parks on the Sunshine Coast. Inside boasts an updated Ikea kitchen, renovated bathroom and natural gas fireplace.

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Mt. Seymour First Pump Peak winter sunrise, Vancouver, BC

Property Values Up Almost 50% In The Sunshine Coast Real Estate Market

Our first snowfall of the season has created a “snow day” atmosphere where kids are whooping it up and those without snow tires are stuck at home. But, that has not put a damper on the Sunshine Coast real estate market.

Total dollar volume for the month of November is up across the Sunshine Coast to $40,269,110.

Unit sales are down 31% while the average price of all property is up almost 50% to $611,529 which tells us there are some large sales out there, particularly in bare land and the detached market. The sales success ratio is 19%.

Inventory levels dropped slightly to 575 properties with 89 newly listed for sale making the housing market competitive for home buyers on the Sunshine Coast.

Detached Home Sales

Detached home sales for the month of November on the Sunshine Coast settled at $30,988,550. Unit sales totalled 41.

The average price of a detached home shot up 27% to $755,818 because of the sale of a large home on acreage on Soames Point.

The number of homes for sale totalled 265 units with 47 new homes listed for sale. Sales success ratio remained even at 15%.

Year-to-date sales for detached homes in November totalled $531,298,223 with 909 detached homes sold.

Condo, Townhome and Apartment Sales

Condo, townhome and apartment sales for the month of November on the Sunshine Coast totaled $8,351,560 up about 30% over last month with 18 units sold.

The number of active attached homes for sale remained steady at 54 units with a sale success ratio of 33%.

Average price of an apartment, condo and townhome on the Sunshine Coast BC dropped slightly to $402,466.

Year-to-date sales volume increased 67% to $73,978,451 over last year with 224 units sold so far.

Land-Only Sales

The Sunshine Coast land-only real estate market is on a roller-coaster ride with sales activity moving up and down drastically over the past few months.

Sales volume rose 38% to $7,747,648 with 18 units sold. The average price of bare-land property rose 38% to $430,424 with a sales-success ratio of 7%.

Year-to-date sales are on trend for the year more than doubling to $105,278,767 a 128% increase over the same time last year. Unit sales so far this year were 371.

 

Timing, pricing and location are the biggest factors in how quickly a property will sell in a busy market like the Sunshine Coast BC.

Speak with a REALTOR® licensed in your area to gain insights into current real estate market activity in your neighbourhood.

For all your real estate buying, selling and investment needs on the Sunshine Coast BC contact Russ Qureshi and his team at http://coastlifestyles.ca

 

 

 

Businessperson with Trump Effect word on sky

Trump Could Effect Home Prices and Real Estate Activity

It is finally over.

Donald Trump is set to become the 45th president of the United States

It is safe to say that this recent US election was one of the most polarizing and emotionally charged of our time.

Trump’s Effect on Real Estate

Regardless of the diverse opinions, only time will tell how this will affect real estate, the average American, the US economy, and us Canadians since we are their largest trading partner with a closely linked economy.

Will there be a flood of Americans coming to buy up Canadian real estate? Most would agree that we probably shouldn’t be holding our breath for any large exodus out of the US. Will the new administration tear up NAFTA (North American Free Trade Agreement)? Many suggest that NAFTA would be renegotiated which might actually be a good thing for Canada.

Stimulating the Economy

Mr Trump had mentioned during his campaign his intentions to stimulate the US economy by spending on infrastructure and by other means. That would have an inflationary effect which has already led to rising bond yields causing the big banks to start raising fixed term mortgages since fixed term mortgages are tied to bond prices. Thankfully I have access to a variety of lenders other than the traditional banks.

Real Estate and Your Mortgage

With the recent mortgage rule changes combined with uncertainty in the bond markets, this could definitely have an effect on home prices and real estate activity over the short term. Now is the time to make sure you have the best mortgage strategies in place considering the uncertain market.

As your mortgage professional, I’m always looking at the changing mortgage environment and have the knowledge on what options exist.  Call or email me today and let me help you make the right choices for you.

Regards,

Contact Darnelda here