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Sunshine Coast real estate market humming along

The Sunshine Coast real estate market defied the greater Vancouver trend in March 2018 and continued to hum along at the start of the new spring season.

 

Compared to last March total sales went up 1% to $40,863,074. The average price jumped 22% to $665,139 and the HPI (Housing Price Index) grew by 20% to $575,583. Total homes sold dipped 13% to 63 sales and the total homes for sale remained even at 306.

 

Let’s look at how things played out month over month.

 

Detached home sales

 

The average price of a detached home edged up 2% in March to $717,746, the highest price ever on the Sunshine Coast. Incredible!!

 

Month over month March reached a total dollar volume of $31,580,840 up 24%.  Available homes for sale grew 17% to 257 total detached homes for sale across the Sunshine Coast with 44 homes sold giving home buyers more choice.

 

Attached home sales

 

The average price of an attached home (condos and townhomes) for March was $483,311 up 13% over last month. The total dollar volume reached $4,771,700 down 1%. Total attached homes for sale reached 41 up 14% which helps satisfy pent up demand.

 

Land for sale

 

The average price of a bare land on the Sunshine Coast in March was $573,799 up 80% due to the sale of a development property in Port Mellon.

Total dollar volume of $6,885,590 isup 53%. Available listings were steady at 180 available land-only properties for sale. Total land units sold for March was 12.

 

Takeaway

 

The real estate market on the Sunshine Coast remains strong going into what is traditionally our busiest season with prices remaining to grow. The pressure is off a little as more inventory comes onto the market giving home buyers more choice and sellers more competition.

 

 

Timing, pricing and location are the biggest factors in how quickly a property will sell in a busy market like the Sunshine Coast BC.

 

Speak with a REALTOR® licensed in your area to gain insights into current real estate market activity in your neighbourhood.

 

For all your real estate buying, selling and investment needs on the Sunshine Coast BC contact Russ Qureshi and his team at http://coastlifestyles.ca

 

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