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Sunshine Coast, BC: 2013 Real Estate Sales - The Big Picture
01-04-2014, 03:06 PM, (This post was last modified: 02-28-2014, 01:18 PM by Skook.)
Sunshine Coast, BC: 2013 Real Estate Sales - The Big Picture
I pulled some Sunshine Coast RE sales data together to help put the 2013 sales in perspective.

SC Realtor Gary Little makes available an end-of-year summary and puts the .pdf up on his interactive map statistics page. He compares the current year just ending with the previous year’s stats. I saved his 2012 summary and combined it with the 2013 summary to create the table below.

I am not sure why Little breaks down detached sales the way he does; perhaps, this is how data is fed to the REBGV. MOP stands for Manufactured Home on Pad (Mobile Homes). As you will notice, only ‘Attached’ sales showed an increase (+8.8%) over last year; however, it is important to note the drop in Median Sales Price (-10.6%) compared to 2012.

Land sales show an increase in Median Sales Price, but it should be noted this figure was influenced by the sale of a 173 acre parcel in the District of Sechelt for $4,500,000 otherwise that figure would have been lower than 2012.

[Image: attachment.php?aid=705]

The next three charts should grab your attention as they show sales totals back to 2000. The ‘Total RE Sales’ and the ‘Land Sales’ combine data from two sources: SC Realtors Joni Selmes and Gail Brachat for the years 2000 - 2010 and Gary Little for 2011 - 2013.

The ‘Detached’ Sales data comes entirely from the REBGV’s monthly stats packages going back to 2000. All three sources do handle sales data differently. The REBGV includes detached sales from the islands (Gambier, Keats, Anvil, Nelson, and Hardy) whereas Little omits these sales. Joni & Gail do include Gambier and Keats in Gibsons sales, but I don’t know if the other islands are included. So, these variations need to be taken in consideration. However, their overall differences aren’t great enough to have a profound impact for our purposes.

After creating these tables, I thought it would be interesting to look at the past decade and calculate the percentage change between 2013 sales and the peak year of sales. Here are the results:

[Image: attachment.php?aid=706]

Looks like a real estate collapse to me especially when you factor in how many more homes have been built and how much more land has been cleared since these peaks dates; more thrown on the market chasing those elusive buyers.

[Image: attachment.php?aid=707]

To round off this perspective, here are the ‘Average Sale’ Price, ‘Median Sale’ Price and ‘Benchmark Sale’ Price charts covering the last few years. A more detailed explanation of these charts can be found in the ‘December, 2013 Sales’ post in the ‘SC Listings & Sales 2011-2013’ thread.

[Image: attachment.php?aid=708]

January 7, 2014 Update:

I am adding the Sunshine Coast 'Single Detached Home Sales by Price Range' year end tally. Without a doubt, this is important data for anyone on the coast with their home on the market or contemplating listing this year. Developers bringing new projects to market should also take heed of the results.

As you can see, the majority of SC single detached home sales under $1 million occurred in the $300,000 - $399,999 price range followed by $200,000 - $299,999. I have taken the range results and calculated their ‘percentage of total sales’ and have added these figures to the table (As %). The pie chart helps visualize the data with the price ranges starting at the top (dark blue) and moving clock-wise.

[Image: attachment.php?aid=741]

February 28, 2014 Update:

I have just replaced the Pie Chart and its data table. Please see post #3 below for the explanation as to why this was necessary.

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Sunshine Coast, BC: 2013 Real Estate Sales - The Big Picture - by Skook - 01-04-2014, 03:06 PM

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