Hurrah! The average price of all homes on the Sunshine Coast BC sits 7.2% above the 10 year average. Read on for your Sunshine Coast real estate market update for July 2015.

The detached real estate market on the Sunshine Coast, for July 2015, continues to chug along like a locomotive train. Townhome and condo home sales are creating an optimistic mood but still have catching-up to do. Land only sales continue to slump with an incredible amount of competition.

Sunshine Coast Detached Home Sales

Dollar volume sales for the Sunshine Coast, BC in July of $40,450,832 is down 15% from last month $47,651,727 and unit sales are down 24% from 106 to 81.

Year-to-date dollar volume sales increased 39% to $203,013,812 from $139,840,808 over last year at this time which correlates with unit sales up 29% from 267 to 345.

The average sale price and average days on the market for July 2015 are $499,392 and 114, respectively.

The sales success ratio is 14.2% which puts the detached-homes market on the Sunshine Coast firmly in a balanced market.

“Much of today’s activity, in the Greater Vancouver market, can be traced to strong consumer confidence, low interest rates, and a reduced supply of homes for sale,” Darcy McLeod, REBGV president said.

Lower inventory in the detached-home market continues to put pressure on prices and availability. If you are looking for a detached home you should be willing to commit some time and energy into finding the right place. If you are a detached-home seller life is getting better and better as prices inch up and inventory remains low. Talk to your REALTOR® about specific strategies to enable your desired lifestyle.

Townhome and Condo Home Sales

Dollar volume sales in July of $2,462,000 on the Sunshine Coast are up 13% from last month $2,141,281 and units sales are equal month over month at 8 units each.

Year-to-date dollar volume sales increased a whopping 142% to $15,485,873 from $6,385,557 over last year at this time which runs close with unit sales up 116% to 52 from 24.

The average sale price and average days on the market for townhomes and condos are $307,750 and 205, respectively.

The sales success ratio is 11.4% which holds the townhome and condo market on the Sunshine Coast firmly in a buyer’s market.

Townhome and condo buyers rejoice! There are some excellent deals out there and a significant amount of choice. View? Square footage? A media room? All can be yours! Townhome and condo sellers need to sharpen their pencils when it comes to price and make sure the home is available to show anytime and in tip-top condition.

Land Only Sales

Dollar volume sales in July of $1,686,750 are down 65% from last month $4,755,000 and units sales are down 41% from 12 to 7.

Year-to-date dollar volume sales increased 310% to $30,818,552 from $7,516,238 over last year at this time which correlates with unit sales up 130% from 36 to 83.

The average sale price and average days on the market for July 2015 are $240,964 and ???, respectively.

The sales success ratio is 1.6% which puts the land-only market on the Sunshine Coast, BC deep into a buyer’s market.

Land only sellers should decide how long they’re willing to be on market for a desired price. Otherwise, make the land easy to access, consider clearing the lot, bringing in services and anything else you can do to increase value and make it easy for the buyer to decide.