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Home sales continue to climb despite the federal budget announcement

Sunshine Coast Real Estate Statistics for April 2024

Both the fully detached and the condo / townhome markets are enjoying robust sales beyond last year at this time while bare-land continues to move along more slowly.  Those with second properties are adjusting to the reality of the latest Federal budget….let’s see how this breaks out:

Fully detached sales are up 10% in dollar volume to $55,100,000 and up 16% in unit sales to 50 homes sold in April.  Our available inventory is up 46% to 393 homes available for sale.  This means our sales success ratio (the amount of sales versus the available inventory) is almost 13% bringing this segment of the market into balanced territory.  

Year to date we are up 19% in dollar volume to $146,250,000 and up 21% in unit sales to 137 homes sold so far this year.  

The average price for a home last month was $1,067,000 while the median price (the home that sold in the middle) was $1,010,000.

Condo and Town home sales are up 7% in dollar volume to $8,550,000 and up by a single sale to 14 units sold.  Our available inventory is down 13% to 65 units.  This means our sales success ratio is 21.5 putting this segment of the market in seller’s hands.  

Year to date we see that dollar volume is up 8% to $23,775,000 and unit sales are actually down by one unit to 37 sold so far.  

The average price for a condo or town home last month was $640,000 while the median price was $557,500.

Land only sales are down 72% in dollar volume to $749,000 and down 50% in unit sales to 2! Our available inventory is up 32% to 122 available bareland properties.  This puts this segment of the market in buyer’s hands.  

Year to date we are up 7% in dollar volume to $10,500,000 and up 42% in unit sales to 20 bare-land properties sold.  

The average price for bare land last month $375,000.

The federal budget threw a spanner into the works (as they say).  The budget was announced and the next two weeks were very quiet. Homeowners with a second property can expect an increase in capital gains tax. Since the announcement, folks seem to be recovering and the market is starting to enjoy more traditionally pronounced action for the spring!

For market stats ask your realtor.  For market intelligence reach out to Russ or Jon at Coast Lifestyles Network!