Sunshine Coast Real Estate Market Activity Rivals 10-Year High

January takes it’s usual dip in sales and increase in inventory after the winter holidays. Overall, the real estate market on the Sunshine Coast continues to rise with today’s market activity rivalling the 10-year high.

Sales of detached, attached homes and land reached 71 properties at the end of January 2016, a 42% increase over January 2015 starting 2016 as the busiest year on record for the Sunshine Coast real estate market.

Total number of newly listed homes for sale was 119 in January 2016, a 19% drop over the same time last year. The average days on market across all property types is 122 days.

The average price of a residential property was $396,843 this month, a 1% drop over last year.

The MLS® Home Price Index composite benchmark price for residential properties on the Sunshine Coast is up 21.2% to $428,100 compared to January 2015.

 

Detached Home Sales

Detached home sales dollar volume for the month of January 2016 on the Sunshine Coast is down 23% from last month to $22,034,864. Unit sales are also down 25% to 42 homes sold in January.

Average price of a detached home is up 2% to $524,639 over last month.

The number of active homes for sale reached 316 along with 42 home sales puts the sales-success ratio of 13% keeps the home-seller driving the market.

Year-to-date sales were $22,034,864 in the detached market, an increase of 49% and unit sales were up 20% over last year at this time to 42 detached homes sold so far this year.

 

Condo, Townhome and Apartment Home Sales

Condos, townhomes and apartments total sales on the Sunshine Coast were $2,757,611 in January, a decrease of 49% over last month. Unit sales dropped 40% to 12 units.

Average price of an apartment, condo and townhome was $226,857 down 16% percent compared to last month.

Sales-success ratio of 11.5% dropped to put the attached market back into a buyer’s market on the Sunshine Coast for the month of January.

Year-to-date sales volume, compared to the same time last year rose 36% to $2,757,611. Unit sales of townhomes, condos and apartments year to date on the Sunshine Coast grew 71% over the same period last year.

 

Land Only Sales

Sales for the Sunshine Coast land only market for the month of January 2016 went down 15% to $3,383,400 compared to last month. Unit sales edged up less than 1% to 17 units sold this month.

The average price of bare land property on the Sunshine Coast BC this month is down to $199,023 a decrease of 24%.

Sales-success ratio on bare land inched up to 5% remaining in the land buyer’s corner. The average days on market were 164.