Practicing COVID-19 Safety Protocols During Home Showings

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!

married couple on couch

Now, best time to start the home buying process on the Sunshine Coast BC

Condo and Townhome Update for May 2020

Although May sales activity was far below average (as a result of Covid-19), there were encouraging signs of recovery, as both listings and sales were up over last month. There were, however, only 3 strata sales for the entire Sunshine Coast, of which 2 were in Gibsons and none of which were for Gibsons’ brand new developments below.

* 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 are overlooking 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.

Gibsons Northwoods 55+ complex and Parkrise saw the only 2 sales. To date, there are about 60 attached units available in Gibsons. Touchstone will be releasing their home sites for sale in the very near future, so stay tuned in or call me for more info.

I hope you are all healthy and doing well.

The market is definitely starting to pick up, and we are seeing huge activity in the past few weeks.

Many of you might have questions about the market and how to Buy & Sell safely. We have created a safety protocol for all our clients. As the economy “re-opens” and measures to mitigate the spread of Covid-19 ease, we expect home sales to rebound, aided by record-low mortgage rates and pent-up demand.

Current prices are determined by the reaction of supply and the impact of the pandemic. So far, we see the new listing inventory translating to home prices remaining relatively firm for 2020 with a possible increase going into 2021.

So if you are considering a purchase, the best time is NOW to start the process. Get a preapproval from your Lender, as we see multiple offers on value-priced properties.

 

I am a Buyer Specialist and will be happy to guide and represent you in your search. Call or email me directly anytime with questions about our local market. ⬇︎⬇︎

Please check us out on Facebook, Twitter or our main website at COASTLIFESTYLES.CA

Terri Murphy

604-741-7774

terri@coastlifestyles.ca

Coast Lifestyles Network – ReMax City Realty in Gibsons

in the park with a mask

May a hectic month for real estate sales on the Sunshine Coast despite the pandemic

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.