Civility returns as supply and demand even out.
Sunshine Coast, BC real estate update for July 2022
Market Update - July 2022
Is it a buyer’s market on the Sunshine Coast?
Officially, the Sunshine Coast is still a seller’s market. However, there is a lag on housing stats, and I believe we’re now in a balanced market. The June 2022 stats will come out later in July and I expect them to reaffirm that position. How quickly that we're going to move towards an outright buyer's market, I don't know. The Sunshine Coast is seeing a lot of inventory come on the market while demand drops. That's what’s affecting prices.
Will prices drop this summer on the Sunshine Coast?
Our market is definitely in a state of flux. We could very well see an even bigger drop-off of buyers as we move further into summer. There’s a belief that there’s going to be a huge amount of travel this summer, and I think a lot of people may put buying a home on the back burner while they focus on other things, rather than worrying about the real estate market. The best advice I can give you is if you have an investment property or you’re looking to sell, it's better for you to get it listed, than it is to delay.
Sellers should temper their expectations
The past two years have trained sellers to expect their house to sell in three days for a HUGE amount of money over the asking price. But here in Gibsons, I'm seeing that it's taking a lot longer to sell, and there are lot fewer buyers inquiring. I haven't been seeing as many multiple offers as I was earlier in the year. Sellers should be adjusting their expectations as we move deeper into the next phase of the real estate market.
Buyers had it hard during COVID
It's been a really tough time to be a buyer. I think over the next few months, it's going to get back to being a more balanced market and a more civilized buying process, which will benefit buyers. Providing housing inventories continue to increase, we'll see supply and demand even out and that, in turn, should lead to cooling prices.
Listen/Watch/Read my full market report
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📰 Read the full market report on my website: https://www.truebluerealty.ca/blog/64852/market-update-for-the-sunshine-coast-bc-july-2022
FOR SALE: 5836 Marine Way, Sechelt, BC - $1,249,900
This Spanish-style villa in Sechelt, BC has an incredible floorplan and one-of-a-kind touches. You’ll love striking design features like the circular staircase in the foyer, and the 3-sided fireplace between the living room and kitchen.
There are more extraordinary spaces outside! Two MASSIVE decks add a combined 1,400+ square feet of additional living space PLUS there’s a separate sauna, as well as a hot tub.
Whether you love to entertain or you want to relax in quite solitude, this home delivers! Call me at 604-418-2695 and schedule your in-person tour!
➡️ See the full listing on my website: https://bit.ly/5836MarineWay
Photos from 5836 Marine Way
FOR SALE: 785 Mansfield Road, Roberts Creek, BC - $2,490,000
Situated at the end of a quiet road and covering 5.25 acres, this country estate straddles the border between Gibsons and Roberts Creek and features a swimming pool, a separate guest cottage, and incredible views from almost every room.
This property on BC’s BEAUTIFUL Sunshine Coast has it all! A natural duck pond, fruit trees, incredible views, and a STUNNING luxury home make this property a 10-out-of-10!
It absolutely must be seen in person to be truly appreciated. Call me at 604-418-2695 to schedule your private viewing.
➡️ See the full listing on my website: https://bit.ly/785MansfieldRd
Photos from 785 Mansfield Road
Call Tony today!
If you’re not already working with an agent, call me when you’re ready to buy or sell and I’ll guide you through the busy and competitive real estate market on BC’s BEAUTIFUL Sunshine Coast.
Tony Browton - TrueBlueRealty.ca
Personal Real Estate Corporation
RE/MAX City Realty (Gibsons)
Email: Click here to email Tony
⚠️ DISCLAIMER: This newsletter and its contents are not intended to cause or induce breach of any existing agency agreement.