Detached Home Prices Dip 2.9% on the Sunshine Coast BC
The real estate market on the Sunshine Coast BC continues to be strong with huge increases this past month in condo and townhome sales and land only sales. Detached home sales have actually taken a little dip.
Has the recent surge in home buying starting to flatten out? Only time will tell.
In the meanwhile, here’s how it breaks down:
Detached Home Sales Dip 2.9%
Detached home sale dollar volume for May 2015 is down 16% to $26,889,000. Unit sales are also down by 7% but that only translates to 59 sales compared to 64 in May 2014. Available inventory is down 20% to 605 detached homes for sale on the Coast (which is a good thing for sellers).
The sales success ratio for May was 9.75%….we are very, very close to a balanced market.
The year to date figures are still strong and indicative of the detached market as a whole. We are up 31% in dollar volume for a total of $114,9111,000 in sales this year! Unit sales are up by 19% to 239 total sales 2015.
The average home price for May 2015 is down 2.9% sitting at $454,470.
Townhome and Condo Unit Sales Up 54% on the Sunshine Coast
Attached home sales are up this past month! Dollar sales are up 135% to $5,232,000. Unit sales were 17 over 11 sales in May 2014 for an increase of 54%. Available inventory is 168 listings for a negligible in crease over last May’s 163 listings. The sales success ratio for attached housing in May was 10.11%.
This indicates we could be entering into a balanced market for condos and town homes.
The year to date numbers show will with dollar volume up 148% to $20,105,000. Unit sales this year are up by 67% to 68 sales.
The average price of townhomes and condos in May 2015 is $293,610.
Bare Land for Sale Surges
Land only sales are enjoying a huge surge!
Dollar volume is up 1510% this month!
This means we sold $13,177,000 dollars in bareland compared to May 2014 at $814,000. Unit sales are commensurately up to 19 over 4 last year.
The sales success ratio for land only is still firmly in a buyer’s market at 4.5%.
Available inventory is down 4% to 421 units.
Year to date dollar volume is up 489% to $24,386,000. Unit sales are up 204% to 64 over last year’s 21.
The average price for a bare land lot is $380,000 in May 2015.
The stats show that some of the larger acreages are selling!
Despite the hiccup in detached home sales this past month the market continues to be strong with excellent sales across the Sunshine Coast BC.
