Market Update - October 2021

Posted on Oct 06, 2021 in Sunshine Coast, BC Real Estate Podcast



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.

YEAR-TO-DATE (YTD)

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