Sunshine Coast Housing Market Update: Positive Trend Continues October 2014
October 2014 was a superior month over all for home sales on the Sunshine Coast. Detached homes are up. Attached homes are down for the month but up year to date. Lot and acreage sales are up!
Let’s break it down:
Crystal clear waters of Franklin Beach
Detached Homes Market
Dollar volume sales are up 54% over October 2013. This means we sold $24,085,000 this past month over $15,594,000 last year. We’re up 51% in unit sales with 59 homes sold versus 39 last year.
Year to date is up in both dollar and unit sales. Dollar sales are at $215,748,000 this year which is up 21% over last year. Unit sales are up 23% at 500 over last year at 404.
The average price per unit is down 1%. Total available inventory is 647 homes.
The sales success ratio is around 9%. This is creeping up and that is good news for sellers however it is still considered a buyer’s market until that ratio reaches 15% or greater.
A sales success ratio of 15 – 20% is considered a balanced market and a ratio over 20% is considered a seller’s market.
Cotton puff clouds on a fall day in Gibsons BC
Attached Homes Market
Condos and town homes are doing well on the Sunshine Coast year but took a little dip last month. We are down 19% in dollar volume sales compared to October last year. This translates to $3,043,000 compared to $3,760,000 last year. Interestingly unit sales are dead even at 12.
Year to date shows us up in dollar volume by 16% and unit sales are up by 20%. We have sold 97 units this year compared to 81 last year.
Available inventory is 180 units and the sales success ratio is at approximately 7%. The average price per unit is down 10%.
Windsurfing under strong winds in Davis Bay
Lots and Acreages Market
Lots and acreages enjoyed a real boost in sales performance this past month! We’re up in dollar sales volume by 241% and unit sales by 200%! 9 units sold this past month compared to 3 last year.
It worth noting that the stats this month were not skewed by a single high dollar sale but, rather, nine sales in the 100k – 600, range. Total available inventory is 447 units and the sales success ratio is….2%…..
Slowly but surely we are moving toward a balanced market.
Old man’s beard along the path to Skookumchuck Narrows
Here’s an interesting fact: did you know that the sales success ratio goes up in the winter?
Due to the perceived cyclical nature of real estate sales on the Sunshine Coast many folks take their property off market during the winter. Couple that with the fact that buyers who are looking to purchase in the winter tend to be much more serious (spring and summer involves a lot of “tire kicking”) and you have a great market to sell in…
If you want to get sold this winter then call us and we’ll help you get it done!
