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Market Update - October 2021
Still a sellers' market as the Sunshine Coast slides into its fall real estate market
Inventory for Sunshine Coast Real estate continues to be at historically low levels. Younger buyers with families from Vancouver (or farther afield) are still looking to relocate here. These buyers are competing with the traditional retirees, which sets the stage for multiple offers and upward pressure on pricing.
Year-to-date sales are up 40% but September 2021 saw a 32% drop in sales volume year-over-year when compared to September 2020. I attribute this drop to the limited inventory on BC’s Sunshine Coast.
Here are the numbers for September and this year-to-date.
SEPTEMBER YEAR-OVER-YEAR (YOY)
September 2020 saw 158 total sales: 85 of them were single-family detached and the average price of those homes was $839,000. The average time on market was 33 days, and the total dollar volume of sales was $110,840,000.
September 2021 had 108 total sales: 55 of them were single-family detached houses with the average price of those homes being $1,211,000. The average time on market was 22 days, and the total dollar volume of sales was $94,443,000.
From January 1 to end of September 2020 saw 768 total sales: 427 of them were single-family detached, and the average price of those homes was $796,000. The average time on market was 42 days, and the total dollar volume of sales was $536,456,000.
From January 1 to end of September 2021 there have been 1,075 total sales: 531 of them were single-family detached houses with the average price of those homes being $1,019,000. The average time on market has been 15 days, and the total dollar volume of sales was $918,207,000.
CURRENT DETACHED HOME INVENTORY LEVEL(S)
Gibsons – 21 homes for sale; 8 of them under $1M
Roberts Creek – 8 homes for sale; 4 under $1M
Sechelt – 38 homes for sale;18 under $1M
Halfmoon Bay – 6 homes for sale; 3 under $1M
Pender Harbour – 18 homes for sale; 14 under $1M
TOTAL INVENTORY – 91 detached homes listed: 47 under $1M
At the end of last month, we had 139 detached homes listed so this is a reduction in total detached inventory of 48 homes.
Unlike most fall real estate markets, I anticipate that October 2021 will be a very good time to sell if you have somewhere to go or if you’re thinking of cashing in an investment property.
If you’re not already working with a real estate professional to sell your home, call me and ask me about my proven marketing system.
🤙 Tony Browton: 604-418-2695
SUSTAINABLE DEVELOPMENT: 501 Veterans Road, Gibsons, BC
Profiled by the national media as a model for sustainable development, this 5-bedroom, 4-bathroom rancher is in a fantastic family neighbourhood and has a separate ground level revenue suite.
The fully renovated upstairs home was upcycled and barged to the Sunshine Coast from Coquitlam, a process that kept 120 trees out of the landfill. From wiring to plumbing, flooring to walls, everything on the top floor has been replaced or upgraded.
The brand new basement DOUBLES your square footage and provides you with either a mortgage helper or additional living space. Another option is to make this home multi-generational and invite your parents or grandparents to live in the suite.
Situated in the Cedar Grove catchment, you’re a short 4-minute drive to Bonniebrook Beach, the premiere beach destination on the Sunshine Coast. Three minutes in the other direction are the shops and restaurants of Upper Gibsons. The Langdale ferry terminal is only 7 minutes away by car and 20 minutes up Highway 101 is the Sechelt float plane terminal that’ll deliver you directly to downtown Vancouver.
This home is a shining example of home development done differently and there’s no other home like it on the market. The fall real estate market has been hectic on the Sunshine Coast.
Call me today at 604-418-2695 for more info or see the full one-of-a-kind listing on my website.
In days of yore, you’d toil in the fields all summer, knowing that there's a long, cold winter just around the corner. There was no better way to reward yourself for all that hard work than by throwing a massive party with food, drink, and family before the snow started to fly.
Some historians believe that the first North American Thanksgiving was held in 1578 in what was to later become Newfoundland. If this is the case, it means that Canadian Thanksgiving predates the American celebration by some 43 years.
Regardless of which country introduced the holiday to North America, harvest festivals of some shape or form have been celebrated for a long time. The Chinese, for example, have celebrated the fall harvest since the Shang dynasty, nearly a thousand years ago.
Whatever their origins, harvest festivals like our Thanksgiving have many similarities. According to Wikipedia, eating, merriment, and even romance are common features of the harvest festivals all around the world.
ACREAGE FOR SALE: 2100 Port Mellon Highway, Sunshine Coast, BC
This private 3.9 acres boasts a 4-bedroom house and a tiny house/external office. The land is roughly divided into thirds. One-third is a maintained yard (which includes extensive flower gardens with a large pond, a veggie/berry patch with several raised beds, orchards, and a fenced dog run); one-third is a well-drained, fenced paddock with barn; and one-third is natural creek riparian zone with a waterfall.
It’s an ideal property for someone wanting their own hobby farm or just looking for more space that allows them to get away from the rat race. You’re next door to Langdale RV Pitch and Putt, and 5 minutes from the ferry. The main house boasts a chef’s kitchen, a HUGE 800 sqft deck, a wood burning fireplace, and each room is plumbed for an ensuite. Perfect for a family home or use it as a BnB retreat.
Call me at 604-418-2695 for more info or see the full listing on my website.
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.