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Real Estate Market still strong

Real Estate Market still strong

The Sunshine Coast real estate market has cooled a bit in the last two weeks, but it is still very much a seller’s market. Successful buyers have mortgage pre-approval and are working with a local buyer’s agent.

Here are how the numbers broke down in detail for March.

March year-over-year (YOY)

• March 2020 saw 66 total sales – 37 of them were single-family detached, and the average price of those homes was $741,000. The average time on market was 32 days, and the total dollar volume of sales was $39,175,000.

• March 2021 had 150 total sales – 73 of them were single-family detached houses with the average price of those homes being $995,000. The average time on market has been 10 days, and the total dollar volume of sales was $121,975,000.

Year-to-date – YOY

• January 1 to the end of March 2020 saw 145 total sales – 79 of them were single-family detached, and the average price of those homes was $682,000. The average time on market was 52 days, and the total dollar volume of sales was $89,556,000.

• January 1 to the end of March 2021 had 359 total sales – 162 of them were single-family detached houses with the average price of those homes being $960,000. The average time on market has been 22 days, and the total dollar volume of sales was $275,736,000.

Current detached home inventory level(s)

• Gibsons – 29 homes for sale, 12 of them under $1
million

• Roberts Creek – Four homes for sale, four under $1 million

• Sechelt – 46 homes for sale, 30 under $1 million

• Halfmoon Bay – 15 homes for sale, nine under $1
million

• Pender Harbour – 11 homes for sale, six under $1 million

• Total Inventory – 105 detached homes listed, 61 under $1 million and a large percentage of those are already under offer.

If you are thinking of selling, now is a good time providing you have somewhere to go. The rental situation is tight, so cashing out and not buying may mean a relocation off Coast.

Tony Browton is an award-winning realtor who lives and works on BC’s Sunshine Coast. His weekly blog can be found at
www.truebluerealty.ca/blog.

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