Sunshine Coast BC Home Buyers Contend For Fewer Homes
Real estate market activity continues to support home sellers on the Sunshine Coast BC with low inventory and increased interest from buyers wanting to purchase a home this month.
Active listings are down 21% since last year at this time across all property types which means lower inventory and fewer homes to choose from.
Be prepared to move quickly on a home that fits your wallet and your lifestyle.
Detached Home Sales
Detached home sales dollar volume of $36,004,829 is up 22.7% from last month as unit sales mirror the market trend with 77 home sales up 24%.
Average price of a detached home is down slightly, by 1 percent, to $467,595.
Success ratio 15.2% puts the detached real estate market on the Sunshine Coast in the home seller’s favour.
Year-to-date dollar volume sales of $268,342,640 in the detached market which is up 40% over the same period in 2014 along with a 28% rise in unit sales to 565 for the year so far.
Condos, Townhomes and Apartment Home Sales
Total sales volume of $4,074,406 for the month of September is an increase of 71.6% over August.
The huge increase in attached sales volume is most likely due to a number of big ticket sales at the Watermark in Sechelt and The West in Davis Bay.
Unit sales are up 30% from 10 units last month to 13 units in August.
Average price of an apartment, condo and townhome is $286,789.
Sales success ratio is up slightly to 6.5% holding firm in a buyer’s market.
Year-to-date dollar sales volume almost doubled compared to last year at the same time up 97% to $17,555,111.
Similarly, unit sales of a townhome, condo or apartment on the Sunshine Coast grew 81% to 60 units so far in 2015.
Land Only Sales
Dollar volume sales for the Sunshine Coast land only are up 67.2% to $5,162,000 in September 2015 with unit sales holding steady at 15 units this month and last.
Average price of a piece of land on the Sunshine Coast is $344,133 up equally at 67.2%.
The sale of a 32-acre mixed-use residential and commercial property in Halfmoon Bay is responsible for sending the land only sales way up.
Year-to-date total sales of $39,067,447, including a handful of multi-million dollar sales, sent the land only market on the Sunshine Coast skyrocketing up 157% over last year along with unit sales up 117% to 113 units over 2014.
A sales success ratio of 3.5% remains in the land buyer’s corner.
The average days on market, across all property types, is down 30.3% over last year to just 122 days.
Get ready to move sooner rather than later!
The MLS® Home Price Index composite benchmark price for all residential properties on the Sunshine Coast is currently $363,450. This signifies a 4.6 per cent increase compared to September 2014.
