happy holidays 2023 Davis bay pier at dusk Sunshine Coast BC

Happy Holidays!

Russ and Jon

We’re celebrating our one-year anniversary!!

It’s Jon McRae and Russ Qureshi and we are touching base to provide you with an exciting update. We are celebrating our one-year anniversary as partners in Coast Lifestyles Network–ReMax City Realty!

Over the past year, we have achieved the coveted Medallion Club Membership (top 10% in sales for REALTOR® in the Real Estate Board of Greater Vancouver) with over 36 transactions so far in 2023.

Of course, these results are predicated on providing unsurpassed service and market knowledge to every client that engages our services.

And, for your continued commitment and ongoing trust in Jon and Russ, we THANK YOU!!

When asked about working with Jon, Russ says he has a deeper appreciation and understanding of Jon’s immense knowledge about and experience in all things Sunshine Coast. While Russ acknowledges Jon cannot be replaced, clients can be guaranteed the same hands on, focused experience when they work with either of us.

Jon says that it has been a great pleasure to be aligned with Russ as a partner in Coast Lifestyles Network over the past year. No learning curve was required since both Russ and I have the same values and dedication to the service of our clients.

With over sixty years of combined real estate expertise, you can rest assured you are getting the right answers, efficient and customized representation and, most importantly, a team that understands their role as professionals.

Now, and into 2024, you’re guaranteed our ongoing commitment to providing you with top notch real estate services dealing with new subdivisions/development properties, investment purchases and, of course, our “meat and potatoes” efforts helping folks buy and/or sell their residential homes.

If you’re considering a move in 2024 reach out and let us help you understand the lay of the land so you can make the best decision for you, your family and extended group of loved ones.

Thanks for celebrating with us!

Home buyers stepping up ahead of 2024 predicted rise in home pricing

Sunshine Coast Real Estate Sale Statistics for November 2023

The fully detached and the condo/townhome real estate market were both up for the month of November compared to the same time last year with an increase in sales as well.  With the continued hold on interest rates “trickling down” we are seeing an uptick in action before heading into the last month of 2023. The next BOC meeting is December 6thand a rate hold is predicted.  Let see how it breaks out for our Sunshine Coast BC region:

Fully Detached Home Sales

Fully Detached Sales were up 31% in dollar volume to $31,500,000 and 21% in unit sales to 29 homes sold.  The available inventory is up 30% to 328 homes for sale. This means our sales success ratio is 8.5% making the market, statistically speaking, a buyers market.

Year to date we are down 26% in dollar volume to $406,000,000 and 25% in unit sales to 361 homes sold so far this year.

The average price for a home last month was $1,127,000 while the median (the home that sold in the middle) price was $924,000.

Condo and Town Home Sales

Condo and Town Home Sales were up 52% to $4,700,000 and up 100% in unit sales to 8 homes sold.  The available inventory is by one unit (62 compared to 63).  The means our sales success ratio is 13% putting us on the cusp of a balanced market for this segment.

Year to date we are down only 8% in dollar volume at $75,000,000 and down only 4% in unit sales to 119.

The average price for a condo or town home last month was $583,000 and the median price (the unit that sold in the middle) was $500,000.

Bareland Sales

Bareland Sales were down 13% in dollar volume to $971,000 and even with unit sales at 2.  The available inventory is up by 56% to 117 lots for sales. This means the sales success ratio is less than 2%.

Year to date we see we are down in dollar volume by 47% to $37,000,000 and unit sales by 59% to 46 lots sold so far this year.

The average price last month was $485,000.

 

We see home buyers peaking their heads out from under the blankets and stepping up to purchase.  With rates holding, folks are, more and more, tending toward making the previously deferred purchase. With ReMax Canada in the national news this week saying the average home price will rise 2% over 2024 many buyers are deciding to “go for it” as the general belief is interest rates will not go down fast enough to offer any savings by waiting.

Sellers should be competitive on price and offer a “show ready” home to expect decent and early traction in this market….Jon and I see the market heating up again in February or March of 2024.

For market intelligence contact Russ or Jon at Coast Lifestyles Network!