Another Month of Increased Home Sales – Sunshine Coast Housing Market Update for June 2014
Deer shopping at the local paint store
Another great month for increased sales for the residential detached and attached market. We are definitely seeing an upward trend with unit sales and gross sales revenue. Housing prices are still equal, generally, but we are selling more! Land only is not fairing as well and has seen another dip this past month. Lets break it down:
Residential Detached Home Sales
Gross dollar sales equaled $29,314,000 for a 25% increase over last year’s $23,453,000. Unit sales this past month totalled 67 for a 36% increase over last year’s 49.
Year to date total dollar volume is up 17% to $116,529,000. Unit sales for the year are also up 18% to 267 from 226 last year. Total available inventory is 770 listings. This is only up 3% from the same time last year. The average price per unit is $436,000 compared to last year at $439,000.
Music in the Landing, Summertime in Gibsons BC
Residential Attached Home Sales
Gross dollar sales equaled $4,136,000 for a 20% increase over last year’s $3,275,000. Unit sales this past month totaled 16 for a 50% increase over last year’s 8.
Year to date total dollar volume is up 23% to $17,600,000. Unit sales for the year are also up 27% to 62 from 45 last year. Total available inventory is up slightly to 187 units for sale. This is a small increase of 6% over last year’s 175 units. The average price per unit is $280,000 this year. Last year the average price was $295,000.
From the top of Mt. Elphinstone looking at the Paisley Islands
Land Only Sales
Land only is slumping in dollar volume as we are down 23% to $1,749,000 from $2,292,000 last year. Unit sales, surprisingly, are up to 10 over last year’s 6 units sold.
Year to date total dollar volume is down 13% to $5,887,000. Unit sales are up 19% to 31 from 26 last year. Total available inventory remains fairly even at 1421 units. The average price per sale is down slightly from $402,000 to $389,000.
Land only sellers need to compete on price! Cut that price to the bone and be prepared to wait, a bit anyway.
Cottage country, North Lake near Egmont BC
Sellers
Things are looking up for detached and attached Sellers! Demand is increasing each month, and while it’s not yet time to be too ambitious with asking price, you can enjoy a bit more certainty when it comes to getting sold.
Buyers
Buyers looking for detached homes now need to be a little more ready to make an offer rather than waiting to see what comes onto market “next week”.
Enjoy July everyone. If you have any questions about the market give us a call and let us go to work for you!
