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SC Listings & Sales 2011-2013
12-05-2013, 02:42 PM, (This post was last modified: 12-05-2013, 02:52 PM by Skook.)
RE: SC Listings & Sales 2011-2013
SC Nov 2013 Sales Stats

I finally got hold of last month’s sales stats yesterday morning. I been taking time to pull it all together and also update all my table data which I will highlight as we proceed through the tables and charts.

November’s sales dropped 9.5% on a year-over-year basis compared to both November 2012 & 2011. However, compared to October’s sales, the drop was an impressive 29.6%. If it weren’t for an uptick in condo/townhouses sales (price drops galore), the month would have been far worse.

I have rearranged the order of the 2013 Monthly Sales table as well as updated the data. The updates take into account those 3 Watermark condos that caught a virus and were “sold” and then “not sold” a few months later. As well, there were a couple of detached home sales that fell through in June and that info has been corrected. I made the necessary corrections to the Sales by Month table and chart.

[Image: attachment.php?aid=577]

I really goofed in October with the Residential Sales by Area table. I got confused and used some of Sechelt’s 2012 year-to-date totals in the 2013 year-to-date totals so that when I looked at November’s totals the numbers were crazy. It took some time to figure out that mistake but all is correct now. With year-to-date Sales by Area, Roberts Creek continues to lead the pack and Halfmoon Bay remains the big loser (due to the lack of million dollar plus property sales - zip in November).

[Image: attachment.php?aid=578]

The 2013 Average Sales Price and Median Sales Price data has been updated to account for the changes mentioned above. The red line in the Average Sales Price chart is the ‘median’ which is $474,283. Once again, I have included the Median Discount from Original Price data. I had a thought as I was preparing it - would this be the discount from the very last list price or from the very first original list price? In other words, if the property went through numerous price drops would that be taken into account? Remember, this is the “median” discount and doesn’t indicate just how high the final list prices were discounted to get a sell.

[Image: attachment.php?aid=579]

Now, bringing up the rear is the HPI and Benchmark Price data; both figures dropped in November. The Benchmark Price at $338,800 stands at -26% compared to the July 2010 peak ($457,777). There is another way of looking at that Benchmark data. The July 2010 peak was +60.4% above the HPI January 2005 baseline ($285,482). The November 2013 benchmark price is now only +18.7% above that HPI reference. So, is the SC undergoing a “soft landing” as it progresses through this market “correction”? I don’t know - sure looks like a crash to me.

[Image: attachment.php?aid=581]

Finally, lot sales data for November can be found here in my ‘Land Sales - (Current & Historical) thread; and, $1mill+ property sales data can be found in this post.

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12-05-2013, 08:15 PM, (This post was last modified: 12-05-2013, 08:17 PM by Skook.)
RE: SC Listings & Sales 2011-2013
Here are the REBGV Sunshine Coast November 2013 Sales Charts. This completes the November sales data for the coast.

[Image: attachment.php?aid=582]

This is the earliest I've been able to access these charts - sweet!

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12-16-2013, 06:09 AM, (This post was last modified: 12-16-2013, 06:11 AM by Skook.)
RE: SC Listings & Sales 2011-2013
SC December, 2013 Sales Update:

Here are the Sunshine Coast sales figures for December 1st - 12th. Just less than half way through the month and the SC has matched the totals sales of December, 2012; however, the total sales for that month were a paltry 16. Single detached home sales currently stand at 11 with 1 of those sales being a mobile home. Last December, there were 12 SDH home sales with 2 of those being mobile homes.

[Image: attachment.php?aid=643]

For the time being, it’s pointless to include ‘New Listings’ info in the table when about 95% or higher of “new” lists are, in fact, relists. This situation will, no doubt, change sometime in 2014 and when it does I will include this information once again.


Sunshine Coast Realtor Kenan Mackenzie of Prudential Sussex Realty has released his “Reflections” on November, 2013 sales. It is presented below in its entirety. I have added the highlighting and included my own observations/comments below the paragraphs.

Quote:Sunshine Coast Detached listings:
There are 579 current detached listings; in the same period in 2012 we had 533 detached listings. Detached sales ending November 30 were 424 detached sales, in 2012 there were 450 sales and in 2011 there were 440 sales. The current market’s hot price range is below $400,000, with 241sales occurring in this price range. With the current pace of sales this represents a 15-month supply of listings. We are down 26 sales over 2011.

[Skook note: According to Mackenzie, Year-to-date Sales (Jan-Nov) = 2013: 424 (-5.8%), 2012: 450 (+2.3%), 2011: 440. In the last sentence, he has erred and obviously meant to say “over 2012.”]

Sunshine Coast Attached Listing:
There are 157 current attached listings this is up slightly over 2012; in the same period last year we had 148 attached listings. Attached sales ending November 30 totalled 87, in 2012 there were 85 sales and in 2011 there were 89 sales. With the current pace of sales this represents a 20-month supply of listings. Attached listing represents strata unit apartments, condos and townhouses. Attached sales are up slightly over the previous year.

[Skook note: The vast majority of attached sales are “resales” undergoing substantial price drops. New build sales continue to flounder.]

Sunshine Coast Land listing:
There are 378 bare land listings this is up from 2012 when we had 373 listings. Land sales ending November 30 totalled 53 sales, in 2012 there were 61 sales and in 2011 there were 75 sales. With the current pace of sales this represents a 90-month supply.

[Skook note: I have SC YTD lands sales for 2013 at 49. MacKenzie is likely including sales on the islands (Gambier, Keats). The supply of inventory continues to increase. A 90-month supply = 7½ years.]

The statistics below are for detached sales only and for the entire Sunshine Coast [Skook note: Year-to-date sales]:
  • $000 to $300,000 with 111 sales
  • $301,000 to $400,000 with 131 sales
  • $401,000 to $500,000 with 76 sales
  • $501,000 to $600,000 with 43 sales
  • $601,000 to $700,000 with 23 sales
  • $701,000 to $ 800,000 with 17 sales
  • $801,000 to $900,000 with 6 sales
  • $901,000 to $1,000,000 with 4 sales
November for most was a tough month if you were selling a home in the $500,000 range you still own it — there was not a single sale on the Sunshine in this range the same goes for above the $800,000 not one sale on MLS recorded.

[Skook note: In my Silverstone Heights thread, I show at what price range the majority of SDH are occurring and you can see those tables in this post - this does not bode well for Silverstone. I had indicated 1 sale in the $500,000 - $599,999 range in the table for November, if Mackenzie is saying no sales occurred here then this “sale” must have fallen through.]

2014 is going to have some great economic news for the Sunshine Coast. We are starting to see some investments being made that will translate into jobs so take heart sellers things are looking brighter. Jobs are what we need on the Coast, Telus providing fibre optics to the Coast is a huge help for those working in the technology sector. If only we could get BC Ferries to consider the impact that they have on the Real Estate and Economy of the Sunshine Coast. We are sitting beside the largest job market in BC in the Lower Mainland if we could improve our access to it.

[Skook note: I wonder if those “investments” pertain to new hotel proposals for Sechelt and Gibsons. If so, the majority of those employments opportunities will likely be part-time at minimum wage.]

The Sunshine Coast has some great buying opportunity for someone looking for a great deal, history shows us that it will not last and the seller will be in the driver’s seat.

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12-21-2013, 07:48 AM, (This post was last modified: 12-21-2013, 07:50 AM by Skook.)
RE: SC Listings & Sales 2011-2013
December 21, 2013 Sales Update:

[Image: attachment.php?aid=670]

Sales up to and including Dec 19th, have now exceeded December 2012’s pathetic numbers (see totals in post above).

Total SDH sales = 17. This includes 1 MOP and 1 Mill$+ sale.
Total Attached sales = 7
Total sales (all types) = 25. This represents an increase, so far, of +56.3% over the December 2012 total of 16. It is amazing how high percentages jump when you are dealing with very small numbers...LOL.

These sales have all but one involved drops from the original asking price of anywhere from $10,000 to $50,000.

One significant sale this past week involved the 173 acre DL7255 Mount Richardson Rd in East Porpoise Bay, Sechelt. It was listed for $4,950,000 and sold for $4,200,000 (-15.2%). Only time will tell if this is land speculation or the buyer has development plans - maybe another hotel project? It is definitely be one to watch.

By the way, the neighbouring 396acre Silverback lands which are under a ‘court ordered sale’ are still on the market - price not disclosed.

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12-27-2013, 02:37 PM, (This post was last modified: 12-27-2013, 02:38 PM by Skook.)
RE: SC Listings & Sales 2011-2013
With only 5 days remaining in the month, the Sunshine Coast has already doubled last December's sales. There will be something to celebrate come New Year's Eve as we kiss that 2013 old man good-bye.

[Image: attachment.php?aid=681]

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01-04-2014, 01:45 PM, (This post was last modified: 01-08-2014, 07:44 AM by Skook.)
RE: SC Listings & Sales 2011-2013
December, 2013 SC Sales Data:

Sunshine Coast real estate sales (all types) ended 2013 with a bang with December’s year-over-year sales total jumping a stupendous +137.5%. Well, don’t get too excited because total sales in December, 2012 were a piddling 16. December did match the previous month’s total of 38; however, when you look at big picture total sales for 2013 dropped -4% compared to 2012 and -3.2% compared to 2011.

[Image: attachment.php?aid=701]

The 2013 year-to-date totals by area (all types) shows the Nation of Roberts Creek came out the winner with sales increasing +45% over 2012 - gumboots and granola still have their appeal, it seems. Pender Harbour, as well, saw a slight increase in sales +1.9% over last year.

The big loser in 2013 was Halfmoon Bay with sales dropping -15.7% compared to 2012. You see, no one wants to buy its 1 million dollar plus properties strung out along Redroofs Rd now that CMHC refuses to insure mortgages at $1 million and above. That June, 2012 CMHC rule change took all the fun out of buying these showy properties now that you need to ante up a 20% down payment (at least $200,000) to make the federal government happy. This “poopy” change has affected $1 million+ sales up and down the coast.

The big towns didn’t fare as well this year either with Gibsons down -5.6% and Sechelt down -8.6% compared to 2012.

[Image: attachment.php?aid=702]

As for Single Detached Home sales on the SC, I think we should just ignore December’s result vis-à-vis December, 2012. It’s the year-to-date and year-over-totals that are far more enlightening. Roberts Creek and Pender Harbour’s SDH sales left everyone else in the dust at 38.9% and 14.6%. Halfmoon Bay led the losers with -20.4% over 2012 followed by Gibsons (-14.6%) and Sechelt (-0.6%). Total SC single detached home sales have dropped year-over-year since 2009.

The message I take from the above is that: a) buyers are looking for bargains and b) there is still a strong attraction to the old character of the Sunshine Coast. The latter isn’t lost on Greypointe properties which will begin to seriously push it new Silverstone Heights development In Sechelt sometime this month. If you visit the development website Gallery and check out the photos for Lifestyle, what do you see? I see a lot of pictures of “old” stuff and “old” places. Gibsons should take heed as it makes its ruling on the George Hotel proposal which will seriously impact the character of lower town and the bay area as a whole.

Greypointe's choice of marketing images should also be noted by Mayor Zoom Zoom, his (Sechelt's - aren't they the same thing?) new business development company/committee/quasi-crown corporation - Sechelt Innovations Ltd., and the old FABS gang - some who have made it onto SIL's Board of Directors.

Here are the average and median sale price table and charts. Note: the jump in the average sale price in December was influenced by the sale of a single property in Roberts Creek valued at $1.5 million. If we remove that million dollar sale, the average sales price drops to $384,245 - not quite so exciting now, is it. This is why, in my opinion, million dollar property sales on the SC should be removed from the SDH Average Sales Price calculation.

[Image: attachment.php?aid=703]

Finally, here is the HPI and Benchmark Price tables and charts with December’s figures; both dropped slightly compared to November.

[Image: attachment.php?aid=704]

I will post the REBGV Sunshine Coast December sales charts as soon as they become available.

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01-07-2014, 10:52 AM, (This post was last modified: 01-07-2014, 10:56 AM by Skook.)
RE: SC Listings & Sales 2011-2013
Here are the REBGV Sunshine Coast charts for December sales, listings and dollar volume.

[Image: attachment.php?aid=710]

The table below shows December's sales by price range and the final year end tally. I have created a smaller table to the right showing single detached home sales under $1 million.

[Image: attachment.php?aid=711]

I have posted an overview of 2013 Sunshine Coast sales and it is found here: 'Sunshine Coast, BC: 2013 Real Estate Sales - The Big Picture'.

2013 is now a wrap.

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