The real estate market on the Sunshine Coast remains strong while we await the effects of government changes in mortgage qualifications.
HPI (Housing Price Index) rose 18% to $583,100 over December last year along with the total dollar volume up 58% to $44,710,170 in total home sales.
Unit sales moved up 20% to 60 homes sold, along with the average price of a home on the Sunshine Coast continuing to climb by 32% to $745,170.
Inventory levels were lower in December with only 218 total available homes for sale and 51 newly listed homes.
Detached Home Sales
The average price of a detached home on the Sunshine Coast rose 4.6% over December to $815,848.
Total sales volume held steady at $39,976,570 with 49 homes sold. Inventory levels dropped 21% to 185 listings with only 40 new listings of detached homes for sale.
It continues to be a seller’s market with a 26% sales success ratio.
Townhome and Condo Sales
The average price of a condo and townhome rode the roller-coaster down 26% in December to $426,763 while total sales volume fell by half to $4,733,600.
The number of townhomes and condos sold dropped 31%to 11 attached home sales while the number of homes for sale fell to 31 units.
The condo and townhome market remained strong with a sales success ratio of 35% due to combination of low inventory and an affordable price point.
Land-only property on the Sunshine Coast persists its monthly up-down trend. The average sale price of land rose again 14% to $400,272.
Total sales volume rose 16% to $4,403,000 5,288,500 with 11 units sold.
Total active land-only listings were 189 with 15 new listings for the month of December.
Sales success ratio continues its buyer’s market trend at 5%.
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 https://coastlifestyles.ca