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Gibsons Condo and Townhouse update for November 2019

GIBSONS CONDO & TOWNHOUSE UPDATE for November 2019

 

Are you thinking about downsizing or perhaps reducing your mortgage burden? Consider a strata-type of home purchase on the Sunshine Coast and, in particular, Gibsons. There is an abundance of inventory ranging in size and price for brand new or older mature complexes.

As of this today, there are approximately 88 condos and townhomes available for sale, of which about 63 are preconstruction purchases for new developments:

 

* Maplewood: will have 28 townhomes next to the Gibsons Community Centre.

* The Halyard: will have12 new homes: nine 3-level view townhomes and 3-garden suites.

* Touchstone at Gospel Rock: (not all on the MLS) On October 7 released their Village Residences with 49 condos and 22 townhomes for sale, and 40% are SOLD!

Please call me or go to their website TouchstoneGibsons.com and mention our team Coast Lifestyles Network. I can answer any detailed questions and represent you in a purchase. The estimated completion is in Summer 2022.

* Eagleview Heights: (87 units in total) has now sold out their Phase 1.

* Cote: will have 4-luxury view townhomes overlooking Gibsons Marina.

The November stats for the whole Sunshine Coast Strata market indicate a 54% increase in the number of sales from November last year. Five of those 12 sales (excluding Touchstone) were in Gibsons.

 

The presently available inventory is spread among 23 different developments that are suitable to these groups of buyers: Families (near schools), Seniors (55+ complexes) and Investors (rentals allowed). In particular, First Time Home Buyers, as generally, these can be the most affordable type of properties to purchase.

 

Prices and size range from $279,000 to $1,375,000 and from 660 to1,770 sq. ft., so there is a new home for one and all depending on your criteria.

There are some differences in strata living compared to owning a detached home, and also many benefits you might not be aware of. We have complexes that have as many as 69 homes and also duplexes that are side-by-side with no strata fees and a detached home feel.

As a Buyer’s Agent and the Sunshine Coast Strata Specialist, I am happy to guide and represent you in your search for a Sunshine Coast home. I work in all areas of the Coast, and I am familiar with most strata homes available in the Sechelt area as well.

 

I invite you to call or email me anytime for a chat or if you need experience and trusted advice regarding buying, selling or investing in real estate on the Sunshine Coast BC.

Terri Murphy, Buyer’s Agent and the Sunshine Coast Strata Specialist,
Coast Lifestyles Network – ReMax City Realty

Call me: 604-741-7774
Send me an email: terri@coastlifestyles.ca

Howe Sound, Sunshine Coast BC Coast Lifestyles Network

Sunshine Coast Real Estate Enjoyed Significant Gains In November 2019

The Sunshine Coast real estate market continues to rebound and gain during the fall months.  All three sections of the market: detached, condos and townhomes and land only all enjoyed significant gains during November 2019.

 

Here is how it breaks down:

 

Detached sales – increased by 63% in dollar volume to $35,500,000. Unit sales are up 56% to 47. The median price (with half the sales falling under and half the sales coming in over) for November was $645,000.  Year to date, this brings dollar volume to within 7% of last year’s total. Right now, we sit at $336,500,000 in sales. Unit sales are within 6% of the previous year’s total sitting at 470.  The average price for a house this year is down only 1% to $716,000. Homes available for sale are down 9% to 300 making the sales success ratio (the number of sales versus the available inventory) almost 16%.  The detached market is firmly in the seller’s hands.

 

Condos & Townhomes sales – increased by 60% in dollar volume to $5,350,0000. Unit sales are up 54% to 11.  The median price (with half the sales falling under and half the sales coming in over) for November was $445,000. Year to date, we are up 12% in dollar volume to $68,800,000, and unit sales are behind by a single deal and sit at 131 units sold.  The average price is up to $525,000. Total homes available are over double compared to 2018 and now sit at 113.  The sales success ratio is just under 10% putting this portion of the buyer’s hands.

 

Land Only sales – increased by 46% in dollar volume to $4,900,000. Unit sales are up 60% to 16. The median price (with half the sales falling under and half the sales coming in over) for November was $300,000. Land only sales have had a tough year, and the numbers reflect it.  Year to date, we are down 36% in dollar volume to $35,300,000 and 35% in unit sales to 95. The average price for a piece of land is down 1% to $372,000.  Total units available for sale are up 6% to 221.  The sales success ratio is 7% up significantly but still firmly a buyers market.

 

What to do….?

 

Detached home sellers, the basics continue to apply.  Make sure your home shows well, it is warm for winter showings, there is little or no deferred maintenance etc.  The funny thing is that sales are spread out quite equally over the price ranges.

 

0 – 399k = 2 sales                                                    700 – 799k = 4 sales

400-499k = 7 sales                                                  800 – 899k = 5 sales

500-599k = 8 sales                                                  900 – 999k = 3 sales

600 – 699k = 11 sales                                             1,000,000 + = 7 sales

 

When it comes to negotiating on detached homes, these statistics can help but don’t tell the whole story when it comes to individual properties.  Make sure you understand what you want as a seller and as a buyer, so when it comes down to the fine details, you have clarity.

 

Sellers of condos and townhomes need to follow the same basics as the detached home sellers. Also, sharpen your pencil when it comes to price.  Buyers have many options for purchase today, so competition is fierce! Here’s how this segment of the market breaks down by price:

 

300 – 399k = 4 sales

400 – 499k = 4 sales

500 – 599k = 1 sale

700 – 799k = 2 sales

 

Depending on your immediate needs and the community where you want to reside, buyers in the condo and townhome market have options.

 

Sellers of land only properties need to keep it on the market.  Make a plan for spring to make that property/lot more desirable (if it doesn’t sell this winter;).  Depending on the property, this may mean as little as keeping the corner pins easily identifiable. If you don’t have corner pins, consider having the property surveyed. Come springtime, make sure you clear the property, in a pragmatic way, of scrubby vegetation – especially blackberry bushes.  Here’s how this segment of the market breaks down:

 

100 – 199k = 5                                                         400 – 499k = 2

200 – 299k = 2                                                         500 – 599k = 2

300 – 399k = 5

 

For market statistics, contact your realtor. For market intelligence, contact Russ or Terri with Coast Lifestyles Network.