Market Minute - June 2020

Sunshine Coast real estate prices are currently stable because of low inventory due to sellers holding off on listing. I'm hearing of multiple offer scenarios and some homes even selling above asking price.

But while this is happening, year-over-year stats show a BIG drop in the number of sales between this May and last. I believe there's been a huge reduction in the number of buyers but an even bigger lack of sellers. Current prices aren't stable because of heightened demand – they're stable because of a shortage of inventory.

If June sees more sellers choosing to list their properties, I won't be shocked to see prices fall accordingly. Watch my earlier video about short-term rentals to learn why recent bylaw changes may intensify this problem.

Call me if you're thinking of selling in 2020. Now is the time to list as additional inventory could push housing prices lower in the months to come. 

Tony Browton -
Personal Real Estate Corporation
Re/Max City Realty (Gibsons)
Mobile: 604-418-2695
Phone: 604-886-2670
Fax: 604-439-2299
Toll Free: 1-800-986-2670