2014 Sunshine Coast Monthly Sales Stats

[Skook]

March 2014 sales stats continued…

Here are the REBGV stats for SC detached home sales-by-price range for March and the year-to-date results which are illustrated by the pie chart. Despite sales this month in the $500,000 - $999,999 range, the majority occurred under $400,000. The chart shows that those under $400,000 sales now account for nearly ⅔ of the year-to-date detached sales.

Let’s see how March’s poor detached sales have impacted the year-to-date ‘sales-to-list’- ratio. Total detached sales according to the Board stands at 84 - this includes 3 manufactured homes on land, and 4 manufactured homes on pads. The YTD total of “new” monthly detached listings now stands at 348 or 4.1 times the number of sales. As a result, the ‘sales-to-list’ ratio remains a bleak 24% for the first three months of year (it increased only 1% over last month’s YTD ratio); and, according to the REBGV, a ratio under 35% is a “buyers” market. I expect sales to pick up somewhat; however, if new listings continue at the present pace, any increase in sales will make little difference.

So given this 24% ratio, if I were a SC Realtor and someone came into the office saying, “I want to list my home”, the first question I would as is, “Why?” If the answer was, “Oh, I’m just curious to see what offers I get” or “I want to see how the market values my home” I would then say, “Don’t bother because the current market won’t be placing the same value on it as you do and you will just get frustrated or angry at any low-ball offers you get, if you get any. I suggest you come back and see me next year.”

Here’s the complete REBGV SC ‘Sales-by-Price’ table showing detached, attached, and apartment (condo) sales for March and the year-to-date figures.

Finally, here are the remaining REBGV SC charts. The ‘Average Price & Median Price’ detached table shows a good jump for both figures, however it is important to remember that they include two ‘$1mill+’ property sales which significantly skew those figures. Those two sales are also reflected in the detached ‘Dollar Value’ chart. The five townhome sales this much including one at Wakefield Beach ($435,000) resulted in a nice jump in the attached ‘Dollar Volume’ chart. There were also five condo sales (apartment) this month; however, since there were no sales at the Watermark in Sechelt, the dollar volume has dropped significantly from February.