2014 Sunshine Coast Monthly Sales Stats

[Skook]

May and June, 2014 Sales Stats:

I am combining both May and June Sunshine Coast sales stats in this post; so, grab a coffee, kick back and relax because there’s a lot of numbers to wade through and it will take a while.

Total Sales (all types):
The SC has now experienced four straight months of positive total sales data with May jumping ahead of April by +32%. June followed with a more modest +18% over May; however, those 93 total sales were worth a long, loud cheer - haven’t seen a number like that in more than a few years.

New Stats Calculation:
As I was putting together May’s data (yes, I actually had all the data tables and charts completed but didn’t have the energy to write it up and post it) I looked at the “Total Sales YOY” table and asked myself, “Why am I reporting the data this way?” I was taking the month’s year-over-year sales and calculating the % change on a year versus year basis (2014 vs 2013, 2013 vs 2012, 2012 vs 2011) and I thought, “Do we really care about 2013 vs 2012 and 2012 vs 2011?” Wouldn’t it be more interesting to know the % change of the current year vs 2013, vs 2012, vs 2011? So, this is what I have done for both the “June Total Sales YOY” and “May Total Sales YOY” tables in the second row below; for example, it is June 2014 vs June 2013 (1YChg), June 2014 vs June 2012 (2YChg) and June 2014 vs June 2011 (3YChg). Hope this change works for you!

How about that “Total Sales by Month” Chart? I’m getting vertigo just contemplating the new height reached this year. Who or what do we give credit and thanks to? The BoC governor for keeping the bank rate low? Credit Unions across the country for starting a new battle offering even lower mortgage rates? Those continuously dropping detached, attached and land prices on the Sunshine Coast? Ya gotta love it except if you bought between 2006 and 2011 and have watched your property value sink lower and lower with each passing year; but, that’s what happens when a real estate market enters a correction. The question is, “Is the SC finally emerging from its seven year correction or is the last few months a dead cat bounce?”

Roberts Creek continues to be the big loser on year-to-date total sales of all the market areas on the SC; although, it did pick up a bit of steam in June. Overall, YTD sales this month are up +23% compared to 2013.

Single Detached Home Sales:
May’s 64 SDH home sales (61 detached homes + 3 manufactured on pad) was the best May showing since the market collapse of 2007 while June’s was the best since 2009.

I have applied the same “New Stats Calculation” described above to the May and June “SDH Sales YOY” and “DH Sales YTD - YOY” data tables below. So, the % change data for 2014, 2013, 2012, and 2011 all relate back to the reporting month in 2014. So, in May’s “SDH Sales YTD (Jan-May) - YOY” table we can see that Roberts Creek’s 10 sales are down -55% compared to May, 2012; the 10 sales are down -47% compared to May 2012; and, the 10 sales are down -50% compared to May 2011. Total sales in that same table show May 2014 was still slightly lower than May 2012; however, by June’s table total SDH sales are all in the green when comparing June 2014 to June 2013, 2012 and 2011.

The REBGV “Sales by Price Range” Data for the Sunshine Coast continues to support the view that single detached home buyers are looking for a sweet deal and they are getting them as prices continue to fall. The “YTD (Jan-June) % Total” table shows that +60.8% of SDH sales occurred below the $400,000 price point - yes, that’s +60.8%.

The SDH median sales price took a jump in May due to the number of “$1million plus” homes sold that month (4 sales).

June’s sole “$1million plus” sale was bumped from the calculation and June’s median sales price fell as a result.

May’s SDH HPI and Benchmark price continued their upward momentum. May’s “Drop from Peak” decreased to -22.9% compared to April’s -24.5%. However, June’s data is flattening out which tells me that the party’s over for 2014. Remember, the real estate boards all say that the HPI and Benchmark Price are the best tools for showing market trends.

May and June’s increase in sales relative to the number of new listings added during those two months saw the “Sales-to-List” increase to +44% for May and +54% for June; however, the year-to-date “Sales-to-List” ratio still shows the SC remains a “Buyer’s Market” (≤ 35%).

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Here are the REBGV June sales charts for the Sunshine Coast. These charts complete the SC May and June 2014 sales stats.

Stay tuned. Coming up next the SC July, 2014 sales stats and it looks like the party is over 2014 - lots of red!