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2014 Sunshine Coast Monthly Sales Stats
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04-11-2014, 08:45 AM,
(This post was last modified: 04-11-2014, 12:12 PM by Skook.)
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RE: 2014 Sunshine Coast Monthly Sales Stats
It’s time to look back on March’s Sunshine Coast with our favourite bard, Prudential Sussex Realtor Kenan MacKenzie. I have to admit I have been tih-tih-tingling with anticipation to read his ‘Real Estate Reflections’ which appeared in the April 4th edition of the Coast Reporter’s Real Estate Weekly.
I did have a bit of fun with his February report, but I paid the price. This month I am taking a more sober approach to Kenan’s March analysis (need my wits about me), so I am preparing this post in the morning. Now, we saw that whether intentionally or not, Kenan pumped up February’s detached sales by actually giving the total sales figure (all types) rather than just the detached sales figures; but, who can fault him as he has a tough row to hoe. He needs to excite buyers while not depressing sellers. So, let’s see how he manages this herculean task given March’s depressing sales figures. Without further delay, Kenan MacKenzie… Quote:Sunshine Coast Detached listings Let’s break this down that conclusion sentence by sentence. “…most of the sales have occurred below $400,000.” - Yep, agree with that. “What the stats do not show is what the buyer is getting for their money. When I look back at 2007 and compare to what a $400,000 home looked like, today the buyer is doing quite well.” - My interpretation: House prices are collapsing and, in fact, the collapse is picking up steam. “The wages set the limit and we can see across other markets that $400,000 is the sweet spot.” - My interpretation: Huh? Does this mean that wage earners on the SC are now piss-pot-poor? Or, that all the full-time, well-paying construction jobs have disappeared? Or, that the only work now available on the SC is part-time paying minimum wage? Or, that small businesses are disappearing and so are the jobs which explains the increase in house listings which is driving down prices? Or, all of the above? “In Vancouver you get a condo for that price on the Sunshine Coast you get a beautiful home.” My interpretation : I can make this look good. Well, since condo prices in Vancouver are collapsing, and if there exists a synchronicity between SC home sales and Vancouver condo prices, then buckle up and hold on folks because the roller coaster ride is on the downward slope and that slope is getting steeper and steeper. “The Sunshine Coast has some terrific 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 soon.” My interpretation: Lordy, this can’t continue, can it? I just have to think positive - where’s the Natural Law Party when you need it, eh? Now, sellers haven’t been in the driver’s seat since 2007, and likely won’t be again until…hell freezes over? You only have to check out the Detached ‘Sales to Listings’ chart in the post directly above and remember that under 35% is a buyers’ market an equal to or over 55% is a sellers’ market. A full explanation of the ratio can be found in the thread, ‘Sunshine Coast Real Estate: A Seller's or Buyer's Market?’ Coming up next - April’s SC real estate sales from the 1st - 10th. Beauty. |
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