Market Update - September 2021
Low inventory spurs fall sellers' market on BC's Sunshine Coast
Low inventory of detached homes combined with a busy summer travel season had an impact on the Sunshine Coast real estate market last month. Despite strong demand, many would-be buyers were forced to cancel showing appointments as they were not able to get on the ferry, due to heightened summertime demand.
Even with this travel congestion, multiple offers are still commonplace for properties that are priced right and have been given appropriate marketing exposure.
We move into September 2021 with pent-up demand that I expect will result in another hectic month. This assumes A) more inventory comes online; and B) ferry reservations for Horseshoe Bay to Langdale are not as hard to come by.
Here are the numbers for August 2021 and this year-to-date...
AUGUST YEAR-OVER-YEAR (YOY)
August 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 $110,843,000.
August 2021 had 104 total sales: 49 of them were single-family detached houses with the average price of those homes being $1,128,000. The average time on market was 24 days, and the total dollar volume of sales was $100,841,000.
YEAR-TO-DATE (YTD)
From January 1, 2020 to the end of August 2020 saw 622 total sales: 355 of them were single-family detached, and the average price of those homes was $786,000. The average time on market was 42 days, and the total dollar volume of sales was $432,622,000.
January 1, 2021 through the end of August 2021 had 974 total sales: 474 of them were single-family detached houses with the average price of those homes being $1,000,600. The average time on market has been 15 days, and the total dollar volume of sales was $823,934,000.
CURRENT DETACHED HOME INVENTORY LEVEL(S)
Gibsons: 22 homes for sale; 5 of them under $1M
Roberts Creek: 17 homes for sale; 6 under $1M
Sechelt: 53 homes for sale; 24 under $1M
Halfmoon Bay: 18 homes for sale; 5 under $1M
Pender Harbour: 29 homes for sale; 10 under $1M
TOTAL INVENTORY: 139 detached homes listed: 50 under $1M
SEPTEMBER SELLERS’ MARKET ON THE SUNSHINE COAST
At the end of last month, we had 179 detached homes listed. This is a reduction in total detached inventory of 40 homes. This drop in inventory came while buyers were finding it difficult to travel to the Sunshine Coast.
If supply remains low (and out-of-market buyers are able to secure passage on the ferry 😉), I anticipate that September will be very busy.
All of this means that now is 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
ACREAGE FOR SALE: 7079 Sechelt Inlet Road, Sechelt, BC
If you value a clean, private, quiet environment for you and your family, 7079 Sechelt Inlet Road in Sechelt, BC could be your ideal piece of real estate. Every inch of the home has beautifully finished and boasts well thought out, generously sized rooms. Its outdoor spaces are private and perfect for entertaining or simply enjoying the solitude of nature.
This 4-bedroom, 5-bathroom house features bright, spacious rooms; huge concrete decks; and an in-ground swimming pool. There's a view of Sechelt Inlet from the yard, both decks, and from the top two levels inside the home. There's a legal suite that could be used as a mortgage helper or as additional living space.
Surrounded by mature trees and flanked by a ravine on either side, this property is exceptionally private. A quaint chapel along the driveway allows for quiet reflection. This is the ideal location for Sunshine Coast recreational enthusiasts. You're a 5-minute walk to nearby Hidden Groves which boasts 16 kilometres of trails that wind through Sechelt Heritage Forest. Porpoise Bay Provincial Park and Burnett Falls Park are just minutes away by car. These are all fantastic spots for hiking and exploring.
Call me at 604-418-2695 for more info or see the full listing on my website.
Schools on BC’s Sunshine Coast
If you’re considering moving your family to BC’s Sunshine Coast, know that there’s no shortage of schools. Local School District 46 is well known for the quality of its schools, teachers, and programs.
There are a total of nine elementary schools with locations stretching from Langdale to Madeira Park. They go from kindergarten up-to-and-including grade seven with the exception of Madeira Park Elementary which only goes to grade six.
For older students, there is Elphinstone Secondary in Gibsons (8-12), Chatelech Secondary in Sechelt (8-12), and Pender Harbour Elementary/Secondary (7-12). In fact, Elphinstone just ranked in the top 50 of all BC secondary schools.
District-wide there are also K-12 programs offered through Continuing Education, SPIDER, and Sunshine Coast Alternative School.
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.
Tony Browton - TrueBlueRealty.ca
Personal Real Estate Corporation
RE/MAX City Realty (Gibsons)
Mobile: 604-418-2695
Email: Click here to email Tony