Detached Home Sales A Bright Spot In February 2020

Sunshine Coast Real Estate Market Update for February 2020

 

Detached home sales continue to make for the most dollar volume for February and 2020 to date! Despite this, the real estate market on the Sunshine Coast was still down from this time last year.

 

Condos and townhome (re)sales continue to be somewhat stagnant with the availability of presale units at Eagleview Height, The Halyard, The Maplewood and Touchstone saturating the attached market.

 

Land only sales are still slow (when has this segment ever been brisk?!), but certain kinds of properties can attract a buyer’s eye.

 

Let’s see how it all breaks down:

Detached home sales

Detached home sales for February were down 25% in dollar volume to $20,300,000 and down 13% in unit sales to 31 units sold.  The sales success ratio (the number of sales versus available inventory) was 11.50% leaving us in a balanced market. Year to date is down 8% in dollar volume to $37,250,000, and unit sales down 5% to 52 units sold this year. Total inventory is 270 homes with the median sale price (what the middle sale was) at $586,500.

Condos and townhome sales

Condos and townhome sales for February were down in dollar volume by 12.5% to $6,100,000.  Unit sales were down 23% to 10 units sold in February. The sales success ratio (the number of sales versus available inventory) was 7.5% leaving us in a buyer’s market.  Year to date was down 23% in dollar volume to $8,750,000, and unit sales dropped 15% to 17 units sold this year so far.  Keep in mind there are some unreported sales happening with the Touchstone project.  Pay attention to Terri Murphy’s blog on our website for details on that project and more.  Total inventory is 132 units available with the median sale price (what the middle sale was) at $549,000.

Land only sales

Land only sales for February were up in dollar volume by 23% to $3,850,000 and unit sales down by one sale to 6. The sales success ratio (the number of sales versus available inventory) was just under 3% keeping this segment of the market in the buyer’s hands. Year to date, we are down in dollar volume by 33% to $4,350,000, and unit sales by 50% top 9 units sold this year. Total inventory is 210 units available with the median sale price (what the middle sale was) at $447,500.