Sunshine Coast BC Real Estate Market Update
It was a banner year for real estate investment on the Sunshine Coast BC in 2015
Sales of detached, attached homes and land real estate reached 1,090 properties at the end of 2015, a 41% increase over 2014, and 14% off the 10 year high of 1,272 which marks 2015 as our best year since 2005.
Total homes listed for sale in 2015 reached 1,777, a 3% decrease over 2014. The average days on market across all property types was 156 days. The average price of a residential property was $421,478 in 2015 on the Sunshine Coast BC, an increase of 4% over last year.
The MLS® Home Price Index composite benchmark price for residential properties on the Sunshine Coast is up 6% to $372,017 compared to December 2014.
Detached Home Sales
Detached home sales dollar volume for the month of December on the Sunshine Coast were down 15% from last month to $28,781,211. Unit sales were also down 24% to 56 homes.
Average price of a detached home is $513,950, an increase of 12% percent over last month.
The number of active homes for sale reached 330 along with 56 sales putting the sales-success ratio of 17% in the home-seller’s corner.
Year-to-date sales were $359,228,627 in the detached real estate market, an increase of 41% to over the same period in 2014. Unit sales went up 29% to 756 detached homes sold in 2015.
Condos, Townhomes and Apartment Home Sales
Condos, townhomes and apartment total sales were $34,198,072 in December, an increase of 43% over last month. Unit sales increased 43% to 76 units.
Average price of an apartment, condo and townhome was $270,843 up 2% percent compared to last month. Sales-success ratio of 19% finally pushed attached properties into a seller’s market on the Sunshine Coast.
Year-to-date sales, compared to the same time last year, rose 10% to $49,581,327. Unit sales of townhomes, condos and apartments on the Sunshine Coast grew 52% to 172 units sold in 2015 over last year.
Land Only Sales
Sales for the Sunshine Coast land only market went up 32% to $4,505,000 in December compared to last month. Unit sales increased 7% to 16 units sold this month. The average price of bare-land property on the Sunshine Coast BC this month went up to $281,562, an increase of 24%.
Year-to-date sales were $50,601,680 in 2015 skyrocketing the land-only market on the Sunshine Coast up 136% over last year along with unit sales up 121% to 162 units over 2014.
Sales-success ratio on bare land inched up to 4% remaining in the land-buyer’s corner. The average days on market were 391.
Bringing 2015 to a close, we saw an incredible amount of transactions in the detached market and that started to spill over into the attached market. Land-only properties began moving in an upward direction.
Looking at 2016, Coast Lifestyles Network is optimistic and eager to shatter the 2015 stats! Let us help you be part of the coming years’ success!!