In these challenging times of the COVID-19 pandemic, we are taking active measures to ensure all our clients are confident in working with us.

While some of our business operations have veered from the traditional methods you may be used to, our commitment to your success is unwavering.

In adhering to the new protocol of safety measures and social distancing practices, we encourage most of our Home Buyers to initially search from home with our help and view properties on the internet with MLS details, Photos and Virtual Tours.

Physical viewings can still be arranged for most properties for genuinely serious Buyers. When we enter homes to visit Sellers or view homes with Buyers, the following applies.

1. We carry COVID-19 safety kits for our clients when working with them physically. We have masks, gloves, antiseptic wipes, and hand sanitizer at all times.
2. We address the appropriate questions to confirm that our client(s):
   1. Have no signs of illness in the last 14 days, i.e. NO symptoms of fever, dry cough,
   2. shortness of breath or difficulty breathing.
   3. Have not recently travelled outside of Canada.
   4. Have not come in contact with anyone with a possible or confirmed COVID-19 diagnosis in the last 14 days.
3. A waiver form will likely be requested to be signed and dated, which can be used for contact-tracing purposes related to COVID-19.
4. Children should not be in attendance and no sharing of electronic devices.
5. No handshakes (darn!) or physical contact and maintain 2 meters/6 ft apart.
6. No car sharing or touching any surfaces in homes when viewing, as well as not using any washrooms in Sellers’ homes.
7. We request all Sellers to NOT be at home for showings if possible and have all doors open and all lights on for Buyers to view the home.

We expect our clients will understand and adhere to these protocols, as we do, in the name of maintaining safety and health standards in our community.

BE SAFE….BE KIND….and STAY HEALTHY!

Despite the hectic month for sales on the Sunshine Coast, the COVID-19 pandemic is showing a pronounced effect on sales across the board.

Let’s see how it breaks out:

Detached sales for May are down 42% in dollar volume to $19,000,000, and unit sales dropped 40% to 28 homes sold.  You can tell folks are “cocooning” as available inventory is down 29% to 312 units.  The sales success ratio is 9% (meaning 9 out of every 100 available properties are selling), putting us in a buyer’s market but very much on the cusp of a balanced market.

Looking at the year to date numbers, we are down only 11% in dollar volume to $107,600,00, and the same in unit sales to 150 units sold this year. The average home price remains unchanged at $717,000.

Condos & Town Home sales for May are down 86% in dollar volume to $950,000….unit sales closely match with being down 80% to 3 units sold.  Inventory is up 12% to 107 available units.  The sales success ration is 2.5; clearly, the buyers are controlling this segment of the market.

Looking at the year to date numbers, we are down 51% in dollar volume to $17,850,000 and down 44% in unit sales to 37 units sold this year.  The average sale price for a condo or townhome is down 12% to $482,000.  Look for the year to date numbers to fall further as we are not having the robust pre-sales of some exciting local developments that we had last year.

Land only sales for May, as expected, are down 74% to $1,750,000 in dollar volume.  Unit sales tumbled 46% to 7 units sold in May while inventory grew slightly to 227 units.  The sales success ratio is 3%.

The year to date numbers, we are down 51% to $8,050,000 in dollar volume and down 36% in unit sales to 24 units sold this year.  The average price for a piece of bare land this year is down 23% to $336,000.

The drop in sales was not unexpected as we enter the third month of the pandemic protocols.  The detached portion of the market remains strong, and I see no less than a dozen pending sales in our office!

Home Sellers: be nimble with decision making and be prepared to negotiate when that offer does come.

Home Buyers: be prepared to make the deal they want now.  Beware of waiting for the “bottom to drop out” of the market. I have seen buyers take this attitude at different times over my 17 years in the business, and everyone tends to wait too long, i.e. the market may dip slightly yet, but by this time next year, you’ll wish you bought instead of waiting.  Interest rates are even crazier than in previous years–imagine locking in a ten year fixed around 3.5% or a variable at 2.5%.

People ask me what kind of ongoing effect the pandemic will have on the coastal market

That’s hard to tell.  If we see a minimal second wave for the virus, I think we will recover quickly and see minimal slow down in the real estate market.  If we experience a pronounced second wave over the summer, with the ongoing relaxation of protocols, then the entire economy will have to readjust, and that will include the real estate market.

For more information, contact your realtor.  For market intelligence, contact Russ or Terri at Coast Lifestyles Network.

I know everyone has been wondering what the sales statistics might be like six weeks into the COVID – 19 Pandemic.  Well, here we are, and it’s not all bad. Let’s breakdown what happened over April for real estate sales on the Sunshine Coast BC.

Detached sales were the bright spot again last month with a total dollar volume down only 2% to $20,500,000 and unit sales down 10% to 26.  Total available listings were down significantly by 28% to 273 homes for sale, meaning the sales success ratio is 9.5% (total sales divided by total inventory), putting the market in the buyer’s hands. Usually, we say the market is in buyer’s hands with a less than 10% sales success ratio, and it is considered a balanced market at 10 – 15% and a seller’s market with sales over 15% of available inventory.)

Year to date, we are dead even with 2019 for dollar volume at $88,700,000.  The median price for a detached home on the Sunshine Coast in April was $627,5000. The most expensive home to sell last month was a waterfront in Gibsons that sold for $3,000,000 (on a $3,999,000 asking price).  The least expensive home to sell last month was mobile on land in Sechelt for $420,000.

Condo and Townhome sales fared much worse last month. Total dollar volume was down 83% to $1,850,000, and unit sales were down the same percentage to 3 units sold. Total available listings were up by 20% to 111.  This means our sales success ratio is 2.7% putting the attached market firmly in the buyer’s hands. Needless to say, this last month drives the year to date numbers down.

With that in mind, year to date, dollar volume is down 43% to $16,900,000, and unit sales are down 33% to 34 units sold this year. The median price for a condo or townhome last month was $394,000. The most expensive condo to sell last month was a presale penthouse unit at The Cote (an exclusive 4 – 6 unit building slated for S Fletcher Rd in Gibsons), bought for $1,375,000.  The least expensive condo to sell was a two-bedroom unit in Sechelt for $350,000.

Land only sales for last month was the first time I have seen zero/0 sales occur.  Presently there are 223 available land only units…this is up from last year by 8%.

Year to date land only dollar volume is down 36% to $6,300,000.  Unit sales are down 32% to 17 units sold, and the average price for land-only in 2020 has been $370,000.

I am happily surprised that during an unprecedented pandemic, detached home sales remain robust.  I think this can tell us something about our attitudes toward land ownership, actually having dirt and a home, compared to a strata unit (and no “dirt” per se).  Add the extremely low interest rates, and we should see this segment of the market remain strong throughout the remainder of the pandemic.

The lack of sales in the attached home segment of the market is surprising.  Stay tuned next month to see if this will continue or we will see some more robust sales volume over May.

Zero sales in the land-only segment of the market is not really a surprise.  This segment is traditionally much lower in sales volume than real estate with homes.  I would imagine the idea of building under the present circumstances has many land only buyers spooked.  That said, we know several reputable builders continuing to work during this time.  Reach out if you’d like to know who!

It’s been an interesting month.  If you want more stats, reach out to your realtor.  If you would like market intelligence applied to your situation, then call Russ or Terri!

It is my hope that this month’s Sunshine Coast Real Estate summary finds you all in good health and not yet stir crazy from self-isolation during these unprecedented times!

At Coast Lifestyles Network, Terri and I continue to provide real estate trading services to our clients, even in a pandemic, as people need to buy and sell homes.  Although our present situation is very fluid and changeable Terri and I are seeing sellers list their homes, and buyers are continuing with due diligence, waiving subjects and moving into their new homes.

Tenanted properties

Tenanted properties are the most problematic now due to the freeze on tenancy terminations (even if you plan on moving in) but each situation is different and no situation is impossible.

As with any interaction, meeting in person, moving in/out and viewing properties in person should be undertaken with the appropriate precautions regarding the spread of COVID – 19.

The Provincial government is responding to the emergency admirably and you can find their COVID – 19 information page here: https://www2.gov.bc.ca/gov/content/safety/emergency-preparedness-response-recovery/covid-19-provincial-support

We are ready to help you navigate the current state of real estate!

As always, Terri and I encourage you to reach out to us if you have any questions about the Sunshine Coast real estate market, want to work on strategies for moving this spring/summer or just want to chat real estate.  We take our duty of agency seriously and remain available to help you!

The sales statistics for March 2020 are the reason for optimism!

Although we are over two weeks into the isolation protocols we are not (yet?) seeing this affect the market too greatly.  Detached sales are up significantly, condos and townhomes are down slightly (continuing to match the trend for 2020 so far) and land-only sales are down significantly!

Let’s see how this breaks out:

Detached sales

Detached sales are up 16% in dollar volume to $31,000,000 and up 15% in unit sales to 44 homes sold in March.  Total listings are down by 10% to 286.  Our sales success ratio (the number of sales versus the available inventory) is 15%.  This puts us on the cusp of a seller’s market…interesting indeed.

Year to date we are up 1% in dollar volume to $68,200,000 and up 3% in unit sales to 96.  The least expensive sale last month was $175,000 for a mobile home in a park in Pender Harbour. The most expensive home to sell last month was 1.9 million for a waterfront home in Sechelt.  The median sale, the sale in the middle, was $625,000.

Condos and townhome sales

Condos and townhome sales are down only 9% in dollar volume to $6,262,000 and up slightly by 7% to 14 units sold in March. Total listings are up by 26% to 118. Our sales success ratio (the number of sales versus the available inventory) is 12% putting us in a balanced market.

Year to date we are down 17% in dollar volume to $15,050,000 and down 6% in unit sales to 31. The least expensive sale last month was a 2 bedroom townhome in Sechelt for $299,000 and the most expensive attached home to sell last month was one of the presale townhomes at the Touchstone development in Gibsons for $870,000.  The median sale, the sale in the middle, was $390,000.

Land only sales

Land only sales are down 26% in dollar volume to $1,950,000 and, surprisingly, up in unit sales by 60% to 8 units sold in March. (yes, 8 sales compared to 5 same time last year). Total listings are up 7% to 210 putting much of the land-only market into the buyer’s hands.

Year to date we are down 31% in dollar volume to $6,300,000 and down 26% in unit sales to 17.  The least expensive sale last month was an 8000sqft lot in Pender Harbour for $97,000. The most expensive sale was a 4.2-acre parcel in Middlepoint for $460,000.  the median sale, the sale in the middle, was $215,000.

As you can see the market chugs along and us with it…:)

For market intelligence call or text Russ or Terri!

Russ 604-741-7119

Terri 604-741-7774

GIBSONS CONDO & TOWNHOUSE UPDATE for February 2020

February sales for attached homes for the whole Sunshine Coast indicate a drop from last year’s total of 13 units to 10 this year. Six of those sales were in Gibsons, of which five were for brand new developments, which are listed here for your information.

* Maplewood: 28 townhomes next to the Gibsons Community Centre.
* The Halyard: 12 townhomes & garden suites located between Lower & Upper Gibsons.
* EagleView Heights: 87 condos, garden suites and townhomes with gorgeous views.
* Cote: 4 luxury view condos that overlook Gibsons Marina.
* Touchstone at Gospel Rock: 49 condos and 22 townhomes for sale now, with approximately 350 homes in total to be built in this master-planned oceanfront community.

EagleView Heights

Let’s discuss EagleView Heights because the first Phase is already 80% SOLD!

Eagelview Heights is a new community is in the heart of Gibsons and walkable to all the town has to offer, including Lower Gibsons waterfront and marinas, yet only 7 minutes to the Langdale ferry terminal.

This development offers a variety of settings to choose from including garden suites, townhomes and condos ranging in size from 800 to 2,400 sq. ft. with 85% of these homes boasting beautiful ocean views. Every home is a corner unit with 9 ft ceilings that enjoys a large outdoor patio. Two acres of re-imagined parkland will offer a walking/biking trail to take in the exceptional vistas and build community.

EagleView’s unique “Lock and Leave” lifestyle

EagleView’s new “Lock and Leave” lifestyle has been masterfully designed and built for both mature and new generational homebuyers and is the perfect combination of style and sustainability.

EagleView’s unique layout on the hillside limits each of the 16 three-storey buildings to only six suites, ensuring ease of access and very nice privacy. Amenities at The Eagle Club for all residents include a fully-equipped exercise room, outdoor infinity-edge pool and hot tub, as well as a games room and ample space for social gatherings. Underground parking will offer individual EV charging. Townhomes and garden suites have their own private garages.

Estimated completion for Phase 1 is May 2022, about six months earlier than Touchstone.

There are only two homes left under $1M, plus another 11 homes available out of 63 units in Phase 1. Phase 2 will have another 24 condos for sale starting at $1.3M. Call me for details on those two homes remaining.

Terri, Buyer’s Agent and Sunshine Coast Strata Specialist

As a Buyer’s Agent and Sunshine Coast Strata Specialist, I’d be happy to guide you and represent you in your search for a new home! You will have lots of questions, and I will have or find all the answers for you.

Call or email me anytime for more details about this exciting new development at Eagleview Heights. I would love to hear from you!

Terri Murphy / 604-741-7774 / terri@coastlifestyles.ca / Coast Lifestyles Network
Re/Max City Realty in Gibsons