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Pent up housing demand on the Sunshine Coast playing itself out in a jump in sales

Sunshine Coast Real Estate Statistics for January 2024

Home Sales for January

We have enjoyed a healthy start to the market in 2024! We are well up in both dollar volume and unit sales across all segments of the market!  Let’s see how it breaks out:

Fully detached sales are up 28% in dollar volume to $25,500,000 and down 4% in unit sales to 21 (this equals one home sale…the big fish was a 10 acre waterfront sale in Wilson Creek for almost $4,000,000). Our available inventory is up 28% over last year to 236 homes for sale. This means  our sales success ratio for this month was 9% making it, statistically, a buyer’s market.

The average home price is somewhat skewed due to the large value sale…looking at the median price (the home that sold in the middle) we see it is $900,000.

Condo and Town Home sales are up in dollar volume by 172% to $4,850,000 and unit sales by 150% to 8 attached homes sold.  Our available inventory is down 20% to 51 available homes. This means our sales success ratio is 15%, putting this market in balanced territory.

The average sale price last month was $615,000 while the median sale was $580,000.

Land only sales are up in dollar volume by 1,260% to $3,265,000 and unit sales are up to 6! Our inventory in this segment is up 78% to 93 listings. This means our sales success ratio is 7% putting this segment, again, in the hands of buyers.  

The average sale price in this segment was $544,000 while the median price was $375,000.

Market Outlook

In our opinion, the market is still somewhat subdued.  Jon and I are seeing good sales volume due to some of the pent up demand that has been building playing itself out.  

Home Sellers 

Get your home “market ready” do the deferred maintenance (paint fresh or, at least, touch up, take care of dings, scratches and any non working item or system associated with the home. Buyers are expecting move in ready from my experience of late.

Home Buyers 

Consider a variable rate mortgage…we will likely see interest rates reduce a bit over this year.  DO NOT MAKE THE MISTAKE OF WAITING! You will miss the market (again?) if you wait.  If you are in the market to buy this year start looking now. Find what you want and negotiate your best deal as Jon and I both believe things are going to heat up considerably over the spring months.

For market intelligence and a thoughtful strategy for buying or selling call Russ or Jon at Coast Lifestyles Network!