SC Listings & Sales 2011-2013

[Skook]

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.

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.

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.

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

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