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2014 Sunshine Coast "$1Mill+" DET Home Sales
11-07-2014, 05:19 PM, (This post was last modified: 11-08-2014, 09:52 AM by Skook.)
#8
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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RE: 2014 Sunshine Coast "$1Mill+" DET Home Sales - by Skook - 11-07-2014, 05:19 PM

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