Home Sales Outpace Inventory On The Sunshine Coast BC
October 2015
Active listings are down 33% and sales are up 30% over last year across all property types on the Sunshine Coast BC, which means fewer homes to choose from for homebuyers.
With prices edging up be prepared to act quickly on a home that fits your budget and your lifestyle.
The MLS® Home Price Index composite benchmark price for all residential properties on the Sunshine Coast is up 5% to $365,708 compared to the same time last year.
Although sales are down October over September across the Greater Vancouver real estate market, including the Sunshine Coast, it is not unusual for the fall months.
There is a misunderstanding that fall and winter months are slow for real estate sales on the Sunshine Coast.
Sellers are urged to keep in mind that anytime of the year is a good time to sell. I would posit that while you may have fewer homebuyer viewings, the buyers who are looking at this time of year are serious buyers.
Detached Home Sales
Detached home sales dollar volume of $28,238,925 is down 22% from last month paralleling unit sales of 61 homes, down 21%.
Average price of a detached home is down slightly, by 1 percent, to $462,933.
Sales success ratio of 14% puts the home-buying advantage in the hands of the seller.
Year-to-date dollar volume sales of $296,581,565 in the detached market is up 37% over the same period in 2014 along with a 25% rise in unit sales to 626 for 2015 so far.
Condos, Townhomes and Apartment Home Sales
Condos, townhomes and apartments combine for a total sales volume of $3,525,783 this month, a decrease of 13% over September.
Unit sales are even at 13 units both this month and last.
Average price of an apartment, condo and townhome is $282,408.
Sales success ratio is 9.5%, which means there are 9.5 homebuyers for every 100 apartment, condo and townhomes on the market.
Year-to-date dollar sales volume compared to last year at the same time are up 30% to $40,219,138.
Similarly, unit sales of a townhome, condo or apartment on the Sunshine Coast grew 30% to 138 units so far in 2015.
Land Only Sales
Dollar volume sales for the Sunshine Coast land only market are down 30% to $3,617,000 in October compared to September with unit sales up 17% to 18 units this month.
Average price of a piece of land on the Sunshine Coast BC is $200,944.
Year-to-date total sales of $42,684,447 sent the land only market on the Sunshine Coast up 125% over last year along with unit sales up 114% to 131 units over 2014.
A sales success ratio inched up 1% to 4.5% but remains in the land buyer’s corner.
The average days on market, across all property types, is down to just 130 days.
Keep in mind; fall and winter are active months for home selling.
We have buyers who are ready to make an offer on view homes in Gibsons.
Call Russ at 604-741-7119 for details or email here.
