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2014 Sunshine Coast "$1Mill+" DET Home Sales
02-28-2014, 05:23 PM, (This post was last modified: 02-28-2014, 05:29 PM by Skook.)
2014 Sunshine Coast "$1Mill+" DET Home Sales
There was one million dollar plus home sale in January. Yep, a 100% increase in sales over January, 2013…LOL. Let the bells ring out and banners fly.

[Image: attachment.php?aid=745]

The property that sold was up in Pender Harbour and I can imagine the seller is mopping his/her brow since it occurred in the Wittakers development which has gone nowhere since it launched in 2006. The home at 4590 Pinehaven Place was first listed back in April, 2013 at $1,299,000 and sold at the end of the month for exactly $1,000,000 - a drop of -23% from list.

The 2788sf, 3-storey, 3bd/4bath home on an 0.11 acre elevated waterfront lot was assessed at $901,000 in 2013 (a drop of $53,000 since 2011). To be honest, it is a beautiful home - just stuck in an overall undesirable location.

Note: 2013 Sales data can be found in the ‘Sunshine Coast's Million Dollar Babies: Hush now, don't you cry!’ thread.

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03-01-2014, 11:12 AM, (This post was last modified: 03-01-2014, 11:14 AM by Skook.)
RE: 2014 Sunshine Coast "$1Mill+" DET Home Sales
the market giveth; the market taketh away

Seeing that single million dollar plus sale in January was so exciting; so, what about February? Sorry, zip, zilch, zero. Yep, down -100% from the month before; but, on a positive note, it ties with February, 2013 and 2012 sales! So, we haven’t lost any ground…LOL.

[Image: attachment.php?aid=746]

As for $1mill+ listings, there are currently 73 - the year began with 55; so, we are building momentum.

Three of the current listings are valued right at $1,000,000. One is a 1.0ac waterfront property on Keats Island and it originally listed at $1,200,000 only 255 days ago. By the way, the new asking price is only +103% above the 2013 Assessment. Bazinga, right?

A second is in Elphinstone close to the town of Gibsons. It’s an attractive home on 2ac (not waterfront nor waterview). It listed 288 days ago and the price hasn’t moved. It’s listed below the 2013 Assessment (-4%), so the seller won’t want to budge on that price.

The most expensive “listed” home is just north of Gibsons’ municipal boundary. Billing itself as an “Exquisite English Manor Estate”, the over 22,000sf honker sits on ⅔ of 54 acres. The remaining ⅓ of the land is on the other side of the Sunshine Coast Highway - that’s a selling point, eh? In 2012, the asking price was $10,180,000; it was relisted in August, 2013 at $7,995,000 - a drop of -21.5% but it’s still +91% above the 2013 Assessment which valued the home just under $3.5mill and the land just under $685,000. Comments on this website are...enlightening. I think it would be ideal for a very, very expensive private school. Just add some ivy and voilà - a SC version of Hogwarts.

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04-01-2014, 09:14 AM, (This post was last modified: 04-01-2014, 02:32 PM by Skook.)
RE: 2014 Sunshine Coast "$1Mill+" DET Home Sales
March 2014 Sales:

There were two "$1mill+" detached home sales in March: yeeeaaahhhh!!!
Both accomplished after some nice price drops:boooooooooo!!!

The Halfmoon Bay property was listed in January at $1,398,000 and sold for $1,030,000 for a total drop of -14%.

The Gibsons property was listed back in 2012 at $1,490,000. It was relisted this past January 2014 at $1,398,000 and sold for $1,300,000. Total price drop from initial 2012 list price is -13%.

[Image: attachment.php?aid=839]

As of yesterday, March 31st, there were 84 properties listed.

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05-30-2014, 07:07 AM, (This post was last modified: 05-30-2014, 07:08 AM by Skook.)
RE: 2014 Sunshine Coast "$1Mill+" DET Home Sales
April 2014 Sales:

There was a single “$1million+” detached property sale on the SC in April located in Lower Gibsons. It was listed on March 14th at $1,198,000 and sold at $1,180,000 - a insignificant price drop so my thought is it was priced well. The home was built back in 1974 but completely renovated in 2006 (2360 sf, 2 bed/3½ bthrm, rancher with walk-out basement). It’s a waterfront property but considering its only on 0.12 acres the location and renovation spoke to just the right buyer. You can view the property here and decide for yourself if it was worth the purchase price (V1052833).

[Image: attachment.php?aid=903]

As of today, May 30th, there are 96 “$1mill+” detached properties listed for sale. Many of these properties have seen some substantial price drops over the last year and prices may be starting to attract attention - we’re about to see a bump in sales with May’s stats.

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06-15-2014, 12:09 PM, (This post was last modified: 06-15-2014, 12:11 PM by Skook.)
RE: 2014 Sunshine Coast "$1Mill+" DET Home Sales
May 2014 Sales:

Happy Days are here, again. In May, there were 4 single detached property sales valued at $1million plus. Interestingly, the pattern of monthly sales in 2014 is exactly matching those seen in 2012.

[Image: attachment.php?aid=928]

All four sales were waterfront properties with three located in the Pender Harbour area and one located on Shoal Lookout in Gibsons. Three of the properties sold between $1,100,000 and $1,405,000 - the latter a 4.1ac property at 4588 Cameron Rd (V1033862) in Pender and had been sitting empty for a few years. I actually mentioned it in a July 23, 2013 VanPeak Post (V986415).

The remaining 1.9ac property went for $2,050,000. The 5440 Iska Rd, Pender Harbour home was listed January at $2,185,000 (V1042970).

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07-07-2014, 01:41 PM, (This post was last modified: 04-24-2015, 10:49 AM by Skook.)
RE: 2014 Sunshine Coast "$1Mill+" DET Home Sales
June 2014 SC “$1Mill+” Sales:

Well, darn it anyways. Just when you think everything is turning around something like this happens - only 1 lonely sale in June. Up to and including May, "Mill+" property sales were matching 2012 sales month for month; however, that came to a screeching halt with June.

Mind you, 2014 year-to-date sales are +50% over 2013; however, they are now -31% compared to 2012.

Overall, June’s sole sale isn’t the best news for the 105 owners currently trying to flog their pricey properties - the vast majority being waterfront which continues to lose its lustre according to 2014 assessments that I have been spot checking. I had been under the impression this year’s assessment were going up but not so in the areas I’ve checked.

[Image: attachment.php?aid=941]

Now, we mustn’t get too maudlin over this lone sale because it was a good one - $2,635,000 for a 4 year old, 5,176 sf 5bed/4 ½ bath waterfront sitting on only 0.70acres in Sechelt (V1062073).

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08-02-2014, 12:58 PM, (This post was last modified: 08-02-2014, 12:59 PM by Skook.)
RE: 2014 Sunshine Coast "$1Mill+" DET Home Sales
July 2014 SC “$1Mill+” SDH Sales:

Sales crashed in July. Nothing, nada, zip. Nope, not one of the 107 currently listed single detached homes valued at “$1million+”on the Sunshine Coast sold. Not one.

[Image: attachment.php?aid=949]

In August last year, I began keeping track of these "$1million+" property listings and the maximum number reached that month was 96 on the 19th and 20th. After August, listing began to slowly fall off finally reaching 65 active listings by the end of December.

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11-07-2014, 05:19 PM, (This post was last modified: 11-08-2014, 09:52 AM by Skook.)
RE: 2014 Sunshine Coast "$1Mill+" DET Home Sales
Oct 2014 SC “$1Mill+” SDH Sales:

Only a single million dollar plus SC property sold in October and it just barely snuck in at $1,005,000. This was a waterfront home in southwest Sechelt and not a very exciting one at that – 4780sf, 3 bed, 3 bath, built in 1995 and by appearance inside and out more appropriate to the Arizona dessert than the BC wet coast. However, the 0.72 acres are very nicely groomed so I think the new owner is a gardener.

The property was listed early in the year at $1,100,000 so to move it took 8 months and an 8% price drop. However, it did remain above the 2014 assessment, but only by 11%. I guess the seller should be grateful for such a small mercy since SC waterfront land values have steadily dropped over the last 4 years. One property listed near Roberts Creek has seen BC Assessment shave off nearly a half a million since 2011 and at the SC selling prices this year there should be a further drop in 2015 – yep, so much for that investment.

On a year-to-date basis sales have matched 2013, but are -30% below 2012.

[Image: attachment.php?aid=995]

This year, "$1mill+" single detached home property listings peaked at 112 from August 23rd - 29th. In 2013, listings reached 95 - again, in August. Current active listings of these "mill+" properties stands at 86.

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12-01-2014, 05:05 PM, (This post was last modified: 12-01-2014, 05:08 PM by Skook.)
RE: 2014 Sunshine Coast "$1Mill+" DET Home Sales
November 2014 Sales

There were no “$1mill+” property sales in November – but there should have been.

The highest selling property on the Sunshine Coast last month was located up there in Pender Harbour – it moved at $950,000. The 28 year old, 1969sf, 2bed/2bath waterfront home sits on a 0.85 acre lot on Francis Peninsula Rd – one of the most desirable areas of the Harbour. Given the property’s location, I figured this home had initially been listed far higher and went on a web hunt – here’s what I found.

[Image: attachment.php?aid=1007]

It’s a beautiful home, sitting on a beautiful lot and in a beautiful location – except it’s up there in Pender Harbour. Oh, how times have changed. Here’s what listing history I managed to find:

[Image: attachment.php?aid=1008]

As for the lack of those mill+ sales, well it turns out to be a typical November since there were no sales in November 2013 or in November 2012. So, the year-to-date stats for October in the post directly above remain the same.

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01-24-2015, 09:22 AM, (This post was last modified: 01-24-2015, 09:23 AM by Skook.)
RE: 2014 Sunshine Coast "$1Mill+" DET Home Sales
Dec 2014 “$1Mill+” SC Sales

Here’s the final report for $million+ 2014 property sales on the Sunshine Coast. There were three sales in December which brings the 2014 total to 17 sales. The total active MLS listings for million dollar properties was 123 with the peak reached August 23-29. Therefore, the 2014 sales represent 13.8% of the total number of MLS listings in this price range.

[Image: attachment.php?aid=1049]

The three December sales all occurred in the Gibsons market area with two being waterfront properties and all were acreages (1.91, 2.50, 9.75). The final sale prices were: $1,450,000; $1,635,000; and, $1,800,000. All three sold below asking price.

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