The real estate statistics for January 2021 show a continued rise in action here on the Sunshine Coast.
Truly one of the busiest Januarys I have experienced in my 17-year real estate career!
Let’s see how it breaks out:
Detached home sales
Detached home sales were up 130% in dollar volume to $39,000,000. Unit sales are up 100% to 42 homes sold in January. The available inventory of fully detached homes is down 45% from last year at this time to 128 homes for sale! Wow! This means our sales success ratio (the number of sales versus the available inventory) is 33% showing that this continues to be a market that is in the seller’s hands.
The average price of a detached home on the Sunshine Coast in January was $929,821.
Condo and Townhome sales
Condo and Townhome sales were up 330% in dollar volume to $9,100,000 and up 257% in unit sales to a total of 18 homes sold in January. The available inventory of condos and townhomes is down 54% to 62 available homes for sale. This means our sales success ratio (the number of sales versus the available inventory) is 29 % putting this segment of the market into the seller’s hands.
The average price of an attached home on the Sunshine Coast in January was $503,583.
Land only sales
Land only sales were up 1289% in dollar volume to $6,750,000, and unit sales were up 633% to 22 lots sold in January! The available inventory for land-only is down 35% to 134 available units. This means our sales success ratio is 16 % bringing this segment of the market into a balanced territory for two or three months running now.
Detached home sellers are in an enviable position
Make sure your home is in show condition and that there will be no surprises upon inspection (deal with that deferred maintenance!). Buyers expect a “move-in ready” situation if they are going to compete and/or pay full price. Make it easy for your buyer and make your home show well! This suggestion is the same for condo and townhome sellers.
Land only sellers should clear the land (if pragmatic) to expose what you are selling……perhaps have a surveyor insert new corner pegs if there are presently none.
Home Buyers should be preapproved
Understand the lending market is changing. While cash flow is king, assets and equity (unless accessing a Home Equity Line of Credit) mean less than they used to. Also, if you see something that “ticks the boxes,” don’t think about the offer overnight, make the offer now.