Pender Harbour

Can the Sunshine Coast housing market do anything but rise?

July was an interesting month for Sunshine Coast real estate sales.  We see different results depending on market segment (detached, condos, land only).  This slightly reduced demand can be attributed to the summer months and most buyers deferring their purchase decision to August or September.  Let’s see how it breaks out across the three residential property types:

 

Fully Detached Sales are down in dollar volume by 6% to $80,300,000, and unit sales are down 23% to 77 units sold in July.  However, these figures are up by 20% over last month, showing that the recent pause in activity in the detached market was short-lived.

For July, the sales success ratio, the number of sales versus the available inventory, was 42%, keeping the market in the seller’s hands.

Year to date, we are still way ahead of last year’s totals.  Dollar volume for 2021 is up 111% to $531,200,000. Unit sales are up 60% to 522 homes sold so far this year.

The average price for a home on the Sunshine Coast remains relatively unchanged over the last three months at $1,020,000.

 

Townhome and Condo Sales are up, ever so slightly at 3.5%, in dollar volume to $8,350,000 and unit sales are down 29% to 12 units sold last month.  This continues a downward trend from last month.  July’s figures are down 16.5% in dollar volume and 33% in unit sales from June’s results.

The sales success ratio, the number of sales versus the available inventory, for July was 18% making the attached market a balanced one going into August.

Year to date, we are still way ahead in dollar volume by 284% to $92,305,000, and unit sales by 246% to 165 units sold so far this year.

The average price for a condo or townhome on the Sunshine Coast is now $560,000.

 

Land only sales are up 33% in dollar volume to $8,575,000 and down 44% in unit sales to 14 lots sold.  Compared to last month, it’s a mixed bag.  We are up in dollar volume by 24% and down in unit sales by 12.5%. The results are skewed by a 61-hectare sale of Ruby Lake (partial waterfront) for just over $3,000,000.

The sales success ratio, the number of sales versus the available inventory, for July was 11.5% making this segment of the market a buyers’ one.

Year to date sees us ahead by 320% in dollar volume to $82,950,000 and unit sales by 153% to 165 units sold in 2021 so far.

The average price for land-only is $503,000.

 

The Sunshine Coast continues to see record prices and sales volume across all segments of the market. I have a sense this should ramp up even more over the next 60 days.  With housing supply so low and demand continuing to be significant, can the Sunshine Coast housing market do anything but rise?