April 2016

Another record-breaking month of real estate sales on the Sunshine Coast BC surpassing 10-year highs – again!

Residential property sales on the Sunshine Coast totaled 148 up 85.0% over April 2015, eclipsing the 10-year high of 98 sales in the month of April by 51%.

Continued low interest rates, first-time homebuyers and excess resources of home sellers in the Greater Vancouver market fuel today’s rise in sales and price across the Sunshine Coast.

Total dollar volume rose a whopping 132.9% to $86,368,158 with a sales success ratio of 37% pushing the market further into the seller’s hands.

Inventory has dropped again to 401 total properties for sale, down 46.8%. New homes listed for sale totaled 177 and the average days on market were 76 dropping once again 45.7%.

The average price of a residential property was $583,569 up 25.9% and the MLS® Home Price Index (HPI) climbed 17.3% to $422,700 in April 2016 over the same period last year.

Detached Home Sales

Detached home sales dollar volume for the month of April 2016 on the Sunshine Coast dipped slightly 2.2% to $78,031,841 from last month. Unit sales mirrored with 124 sales, an 8.8% drop in detached homes sold in April.

The average price of a detached home jumped 7% to $629,289 in the month of April breaking the 10-year record yet again.

The number of active homes for sale remained even at 311 units along with 124 detached homes sold for a sales success ratio of 40% in April 2016.

Year-to-date, sales totalled $223,311,422 in the detached market with 384 detached homes sold.

Condo, Townhome and Apartment Home Sales

Condos, townhomes and apartments sales totaled $7,898,317 on the Sunshine Coast, an increase of 34% over last month. Unit sales remained steady at 23 units sold in April 2016.

Average price of an apartment, condo and townhome in April 2016 on the Sunshine Coast BC surged 26% to $345,091 compared to last month.

Sales-success ratio rested at 25% holding the attached market in the seller’s corner after many years of flat sales.

Year-to-date sales volume of townhomes, condos and apartments on the Sunshine Coast increased almost twofold to $21,104,560 while unit sales of 75 matched with a rise of 47% over the same period last year.

Land Only Sales

Sales for the Sunshine Coast land only real estate market for the month of April 2016 skyrocketed 160% to $14,311,200 and unit sales doubled to 60 units compared to last month.

The average price of bare land property on the Sunshine Coast BC rose 17% to $ 238,520.

Finally, the sales-success ratio of 19% on bare land settled in the seller’s corner after many years in a buyer’s market. The average days on market were 244 days.

Year to date sales doubled over the same period last year to $27,933,200 with a total of 127 units sold.