Sunshine Coast real estate market appears to be cooling
But homes with views and secondary suites still sought after
Market Update - May 2022
BC’s Sunshine Coast real estate market seems to be cooling off as we approach summer but there’s still a lot of interest for properties with views and secondary suites (AKA – mortgage helpers).
We’re not seeing multiple offers as frequently as we were even a few months ago and there seems to be fewer “younger” buyers looking to escape Vancouver. Employers are calling workers back to the office and, as such, some recent Sunshine Coast transplants must regularly travel to the city via BC Ferries. Even part-time, this commute may cause the Sunshine Coast’s rural lifestyle to lose some of its lustre.
With that in mind, I expect to see our local housing inventory to rise over the next 3-6 weeks. Sunshine Coast residents with somewhere to go may decide this spring is finally time to sell their home, and investors could choose to cash in on what could be a peaking market.
I’m preparing for the summer real estate market to be slower than typical this year. My belief is that Canadians are ready to get away after being housebound since 2020. If this is accurate, expect Sunshine Coast real estate to take a back seat to summertime travel.
Here’s the data from from April, the year-over-year numbers, and year-to-date numbers:
CURRENT DETACHED HOME INVENTORY LEVEL(S)
Gibsons – 28 homes for sale; 9 of them under $1M
Roberts Creek – 6 homes for sale; 4 under $1M
Sechelt – 50 homes for sale; 22 under $1M
Halfmoon Bay – 7 homes for sale; 1 under $1M
Pender Harbour – 11 homes for sale; 6 under $1M
TOTAL INVENTORY – 102 detached homes listed: 42 under $1M
APRIL YEAR-OVER-YEAR (YOY)
April 2021 saw 134 total sales: 68 of them were single-family detached and the average price of those homes was $1,003,000. The average time on market was 10 days, and the total dollar volume of sales was $117,769,000.
April 2022 had 116 total sales: 57 of them were single-family detached houses with the average price of those homes being $1,275,000. The average time on market was 11 days, and the total dollar volume of sales was $127,961,000.
YEAR-TO-DATE (YTD)
January 1, 2021 to April 30, 2021 saw 663 total sales: 312 of them were single-family detached, and the average price of those homes was $984,000. The average time on market was 14 days, and the total dollar volume of sales was $537,569,000.
From January 1, 2022 to April 30, 2022, there have been 392 total sales: 192 of them were single-family detached houses with the average price of those homes being $1,160,000. The average time on market has been 11 days, and the total dollar volume of sales was $385,483,000.
At the end of March, we had 80 detached homes listed (30 of which where under $1M). Compare that with the most recent numbers from the end of April and you can see why I anticipate the Sunshine Coast market to slow.
Call me with questions about what it takes to buy or sell a home this summer on BC’s beautiful Sunshine Coast. 604-418-2695
FOR SALE: 408 875 Gibsons Way, Gibsons, BC - $998,900
Elegant living in the heart of Upper Gibsons! This 2-bed, 2-bath PENTHOUSE in Soames Place boasts 1,395 sqft of interior living space PLUS 294 sqft of outdoor living. This home has breath-taking ocean, island, and mountain views and a long list of desirable features including:
electric fireplace
vaulted ceilings
open concept floorplan
air conditioning
upgraded appliances
electric blinds
two secured parking stalls
oversized storage locker
Walk to everything in Upper Gibsons including shopping, restaurants, swimming pool, rec centre/arena, and the curling rink.
This is ideal as a investment/holding property, for those downsizing, or for professionals that travel. No rental restrictions and professionally managed by Holywell Property Management.
Call me today to request your info pack! 604-418-2695
Photos from 408 in Soames Place
Why do Canadians celebrate a long weekend in May?
The May long weekend is widely considered to be Canada’s unofficial start to summer. Here on BC’s Sunshine Coast, it kicks off our busy tourism season that’ll last until Labour Day.
Out west, May’s long weekend goes by May Two-Four and May-Long while in Ontario, it’s sometimes called Firecracker Day. But the holiday’s proper name is Victoria Day and it marks Queen Victoria’s birthday, which was May 24th.
As Queen of the United Kingdom of Great Britain and Ireland from 1837 until her death in 1901, Queen Victoria was also Canada’s queen until we received our independence in 1867.
After her death, parliament made Victoria Day an official holiday in honour of Her Majesty’s contributions to Canada over her 63-year reign.
In 1952, the holiday was moved to the Monday on or prior to May 24th, presumably to better allow Canadians to celebrate the late monarch’s birthday by shooting off fireworks and drinking beer at the lake.
BUSINESS FOR SALE: Alpha Adventures (two locations) - $249,900
Ready for a lifestyle change? Get in on this exciting opportunity to own your own year-round outdoor adventure business, with locations in Sechelt and Gibsons! During the summer months, Alpha Adventures operates a 3rd satellite location in Pender Harbour for rentals, lessons, and tours.
With 20+ years of history, this turn-key operation boasts excellent traction in the marketplace, a loyal customer base, and ample opportunity for growth.
Moving to the Sunshine Coast could be just the ticket to get away from the big city drab and start living an adventure lifestyle. The store is 15 minutes (or less!) from easy access to mountains, trails, and the ocean. The amazing quality of life on the Sunshine Coast reaches even further with great schools and an open, accepting community.
Call me if you’re yearning for (Alpha) adventure and request a full info package.
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)
Mobile: 604-418-2695
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.