Market Minute - March 2021

Posted on Mar 02, 2021 in Sunshine Coast, BC Real Estate Podcast


Sunshine Coast Real Estate market still red hot

More listings have been coming on the market, but demand is still far beyond supply. Anything decent is selling right away unless the listing Realtor holds offers, in which case it sells on the day offers reviewed.

Multiple offers are commonplace and there is a lot of “buyer fatigue” happening after some find themselves still looking, even after writing offers on several properties. 

Buyers trying to go it alone (calling listing agents direct) have little chance of success and people hoping to buy somewhere “subject to sale” are wasting their time even looking.

Here are how the numbers broke down in detail for February:

FEBRUARY YEAR-OVER-YEAR (YOY)

  • February 2020 saw 47 total sales – 24 of them were single-family detached, and the average price of those homes was 649,000.00. The average time on market was 57 days, and the total dollar volume of sales was $30,220,000.00
  • February 2021 had 127 total sales – 55 of them were single-family detached houses with the average price of those homes being $962,000. The average time on market has been 24 days, and the total dollar volume of sales was $98,886,000.00

YEAR TO DATE (YOY)

  • From January 1 to end of February 2020 saw 79 total sales – 42 of them were single-family detached, and the average price of those homes was 629,000.00. The average time on market was 68 days, and the total dollar volume of sales was $50,380,000.00
  • From January 1 to end of February 2021 had 209 total sales – 89 of them were single-family detached houses with the average price of those homes being $930,000.00. The average time on market has been 49 days, and the total dollar volume of sales was $153,761,000.00

CURRENT DETACHED HOME INVENTORY LEVEL(S)

  • Gibsons – 41 homes for sale. 19 of them under 1M
  • Roberts creek – 2 homes for sale. 1 under 1M
  • Sechelt – 55 homes for sale. 33 under 1M
  • Halfmoon Bay – 17 homes for sale. 8 under 1M
  • Pender Harbour – 19 homes for sale. 5 under 1M
  • TOTAL INVENTORY – 134 detached homes listed, 66 under 1M and a large percentage of those (est. over 50%) are already under offer.

CALL TONY TODAY

In summary, March 2021 is great time to sell (if you have somewhere to go) but a tough time to be buying. If you're a seller thinking of waiting until spring to list, consider listing now and capitalizing on low inventory and high buyer demand.

Tony Browton - TrueBlueRealty.ca
Personal Real Estate Corporation
Re/Max City Realty (Gibsons)
Mobile: 604-418-2695


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