The Sunshine Coast BC, a coastal oasis just outside the city of Vancouver, saw incredible leaps in residential homes for sale for the month of April 2015 and year to date in all property types. Here’s how it breaks down:
Detached Home Sales
Residential detached home sale dollar volume is up this past month 59% to $32,104,000! Unit sales are marginally up 15% from 52 to 60 units sold in April.
Year to date sales dollar volume is up 60% to $88,021,000. Unit sales for the year are up 32% to 180 units sold so far in 2015! The sales success ratio is at 10.5% for April which means we’re moving from a Buyer’s market and heading into a balanced market. We are down 21% in total available detached inventory so this helps with the success ratio. Another three or four months at this pace and we should be entering a Seller’s market.
Sellers – the glory days of 2006/2007 have not returned yet so be cautiously optimistic in your asking price as we see high priced listings be passed over without a second glance by Buyers looking for value. Check in with Coast Lifestyles Network for a complimentary Home Evaluation.
Buyers – If you find something you like that matches your criteria DO NOT WAIT to put in an offer. Write your offer today and avoid a competitive situation, or possibly losing the home to the “next guy”.
Attached Home Sales
Residential attached home sales dollar volume is way, way up to $6,577,000 for the month of April. This represents a 78% increase over last year! Units sold are also up 76% from 5 to 21!
Year to date stats are less extraordinary but impressive nonetheless. Dollar volume for the year is up 51% to $14,875,000. Unit sales for the year are up 51 from 35 last year representing a 41% increase. The sales success ratio is at 12.5% for last month! Available units are about the same as last year at this time so demand is increasing.
Condo and town home Sellers should understand that competitive pricing is still the key factor for sales success.
Land for Sale
Bare land for sale is continuing to show an incredible come back over years past. Sales dollar volume, last month, is up 91% (yes you read that correctly) to $3,503,000 from $42,000. Unit sales are up to 18 last month over 1 sale from the year before. The sales success ratio has doubled to 4.4%. This is great news but still puts us firmly in a Buyer’s market for bare land.
Land only Sellers must continue to compete on price. This is what’s motivating Buyers to buyer presently.
Have you been successful buying or selling a residential home on the Sunshine Coast? How did that work for you?
