Sunshine Coast Home Buyers Out in Droves March 2015
The Sunshine Coast real estate market is HOT for detached homes! Not since 2007 have we seen this kind of constant action. Home buyers are out in droves and homes for sale are getting a lot of attention. We’ve seen a spike in competitive offers and market conditions signal it’s a good time to list your home for sale.
Sunshine Coast Home Sales Review
Residential detached dollar volume for the month of March is up by 90%…yes, that’s right…90% over last year!
Over $29,000,000 dollars in detached inventory was sold last month compared to $15,000,000 the year before. Unit sales follow closely with a 63% increase to 54 units sold compared to 33 last year. The sales success ratio continues to creep up and is now at 10% for March 2015.
Year to date is impressive – dollar sales show an increase of 60% and unit sale an increase of 42%. The average sale price is up 12% to $465,000.
Sunshine Coast Townhome and Condo Sales Review
Condos and townhomes are performing as well. Dollar volume is up 28% for this past month of the same time last year. This translates to $3,300,000 compared to $2,378,000. Unit sales this month were 11 compared to 10 last year. The sales success ratio is up to 6%.
Year to date we are almost dead even with last year’s production. Actual dollar sales this year are $8,291,000 whereas last year we were at $8,257,000! The average sale price is up 6% to $274,900.
Sunshine Coast Land for Sale Review
Land for sale revels in an incredible and much anticipated comeback.
Dollar volume for March 2015 is up 169% over last year and dollars sale this month are up over $1,678,000 compared to last year at $622,000. Unit sales have doubled to 8 this past month. The sales success ratio is still clawing it’s way out of the cellar and stands at 2% (remember…15% is a balanced market).
Year to date sales show a stellar increase with dollar volume up 133% and unit sales up 68%. The average sale price for a bare land property is up 30% to $287,000.
Your Takeaway Nugget of Wisdom
These results bode well for sellers of all types of property!
Detached Home Sellers can count on a quicker sale but need to temper their ambition with realistic prices. Each property on the Sunshine Coast is entirely unique so chat with your local area realtor and let them counsel you before you decide on price.
Condo and townhome Sellers can start to breath easier as folks are starting to buy – realistic pricing is paramount to get sold.
Land Sellers can also breath easy as Buyers are starting to build again. Price and a presentable property are the two most important factors to consider.
Buyers, you can enjoy continued low borrowing costs (2.59% on a 5 year fixed mortgage is pretty darn good). Your most important tool will be a pre-approved mortgage and then, be ready to purchase when the right home comes on market – some homes are selling in days instead of weeks and months and get ready to compete as competitive offers are in play.
Ready to buy or sell a home on the Sunshine Coast?
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