Good deals going quickly, often under multiple offer scenarios

Sunshine Coast Real Estate Sales Statistics for September 2024

September enjoyed a good bump in transactions for both the detached and land only segments of the market.  The condo and town home market continues to be sluggish.  We are seeing some “good deals” come to market and receive lots of attention AND the occasional multiple offer. Let’s see how things breakout:

Fully detached sales were up 54% in dollar volume to $37,900,000 and unit sales are up 52% to 38 homes sold last month.  Our available inventory is also up 27% to 472 available properties.  This means our sales success ratio (the amount of sales versus the available inventory) is 8% putting the market, from a statistical POV, into the hands of buyers.  

Year to date we are up 10% in dollar volume to $383,800,000 and up 12% in unit sales to 349 homes sold so far in 2024.  

The average price for a home last month was $997,000 while the median price, the home that sold in the middle, was $850,000.

Condo and town home sales were down 17% in dollar volume to $4,200,000 and unit sales were down 23% to 7 “attached” homes sold last month.  Our available inventory is up 20% to 79 available homes.  This means our sales success ratio is 9% making this segment of the market, statistically speaking, a buyer’s market.

Year to date we are down 20% in dollar volume to $52,300,000 and down 24% to 82 condos and/or town homes sold so far in 2024.  

The average price for an “attached” home last month was $570,000 while the median price, the home that sold in the middle, was $640,000.

Land only sales were up 50% in dollar volume to $3,600,000 and 40% in unit sales to 7 lots sold last month. Our available inventory is down 12% to 117 available properties.  This means our sales success ratio is 6%.  Definitely a buyer’s market.  

Year to date we are down 9% in dollar volume to $26,000,000 and unit sales are up 31% to 50 bareland properties sold so far in 2024.  

The average price for bareland last month was $510,000 while the median price was $300,000.

All in all a decent month for real estate sales on the Sunshine Coast.  We continue to see a certain slowness in the market right now.  The medium term (3-6 months) looks to be on the upswing…in the meanwhile seller’s must be nimble and reasonable when the offer comes.  Buyers hold a coveted position in the market place but the “good deals” are going quickly and often under multiple offer scenarios.

For market intelligence call Russ or Jon at Coast Lifestyles Network.