A cautious start in the marketplace in 2025

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Sunshine Coast Real Estate Statistics for January 2025

The apparent slowness “out there” in the marketplace belies the little jump in dollar volume and the big jump in unit sales, in the detached market, versus last year. If the first month’s stats for 2025 are any indication, we are seeing market corrections with regard to sales price.  Let’s see how it breaks out:

Volume up, price down

Fully detached sales were up 2% in dollar volume to $26,200,000 and up 38% in unit sales to 29 homes sold.  Of course, for the first month of the year, the YTD is the sameJ.  Our inventory rose by 22% to 289 available units.  This means our sales success ratio (the amount of sales versus the available inventory) is 10% putting us “just in” a buyer’s market.  

The average price for a fully detached home last month was $905,000 while the median price (the home that sold in the middle) was $895,000.

Condo sales depart from the norm

Condo and town home sales were down 15.5% in dollar volume to $4,100,000 and down 37.5% in unit sales to 5 homes sold in January.  Our available inventory is up 25% to 68 homes.  This means our sales success ratio is 7% putting this segment of the market in buyers hands.  

The average sale price last month was quite skewed with a large value sale at almost $1,100,000…the median sale this month was $830,000.

Bare land market in the buyer’s hands

Land only sales were down 74% in dollar volume to $850,000 and 66% in unit sales to 2 bare land property’s sold.  Available inventory is up 16% to 108 properties.  This puts this segment of the market in buyers hands….although, performance in the land only market in January, as you might imagine, is quite subdued.

A cautious start to the new year

With the Bank of Canada having reigned in the inflation of 2024, even reducing the prime rate to 3% this past month, the pent up buyer demand is still slow to play out. Couple this with the economic silliness coming from south of the border and we have a cautious market to start the year. 

For market intelligence and a strategic path to a sale or purchase call Russ or Jon at Coast Lifestyles Network.