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Buyer’s Market vs a Seller’s Market

 

Sunshine Coast Real Estate Active Listings Graph

 

 

The story going into the 2017 Spring Market is easily the listing count.  Despite hearing reports of markets correcting or facing headwinds, the listing count tells the tale.  And it is amazing how much difference 5 years can make.  While we saw a peak number of listings in 2014, the inventory had crept up after the financial meltdown in 2008 and a distinct lack of buyers meant that sellers were piling up against buyers...

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Weekly Report - March 7-12, 2017

Our brokerage puts out weekly reports highlighting important topics and statistics in Sunshine Coast real estate trends.  Here's the latest from the RE/MAX Oceanview office in Sechelt.

 

 

"It takes a lot of skill, training and experience to competently price a home. Agents must know the market inside and out in order to put together a professional evaluation. After all, there is much on the line. Price it too high and your home won’t sell. Price it too low and we leave money on the table.  Of course, it helps to be the top selling office on the Coast since 1996. All those transactions over all those years means our Agents have superior experience and judgment on pricing. The first step is to tour your home. You know your home better than we do, so we’ll be asking a lot of questions. We’ll have our tape measure handy, a plot plan of your property and a note pad. Once our questions have been answered and the data has been jotted down we take everything back to the office and the real work begins. How do recent sales compare to the subject property? Same thing for current listings. What recent trends are developing and who are our likely buyers? Putting all this divergent data together into a coherent professional report takes a lot of skill. But a coherent professional report is exactly what you need to help set your price and handle the negotiations. For more on pricing and everything else about the market, call your RE/MAX Oceanview Agent today."


The Numbers:


SALES THIS WEEK:  18 [SUNSHINE  COAST, ALL OFFICES]


DETACHED

ATTACHED

LAND

OTHER

13

2

3

0

 

PRICE RANGE


0 - 300K

$300K - $500K

$500K - $1M

$1M+

4

4

9

1

 

AREA


PENDER H.

HALFMOON B

SECHELT

ROBERTS C

GIBSONS

1

3

4

1

9

 

NEW LISTINGS THIS WEEK: 36        DET. SALES, PAST 30 DAYS 


DETACHED

ATTACHED

LAND

2016

2017

21

4

11

133

50

 

CURRENT LISTINGS: 489   

 

DETACHED

ATTACHED

LAND

LOW – HIGH

220

49

220

453   -   1396


DET’D  SALES to LIST  RATIO23%

                                                                                                    

SALES/LIST

RATIO

       0 – 11%

BUYERS MARKET

          12  -  19%

          BALANCED

        20% and up

   SELLERS  MARKET


*The Sales/Listings Ratio is a guide to market conditions. A value below 12% puts downward

pressure on prices. 12 – 19% reflects a balanced market. Over 20% puts upward pressure on prices.


 

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Snow & Sleet = Slower market

 

Sometimes the cold and wet seems to put a damper on real estate activity! Earlier this year I suggested that we keep an eye on the number of new homes coming onto the market vs. the number being sold as an indicator of where trends are going. At this point of the year, inventory has been slowly but steadily growing. We have seen about 17 new listings a week versus 11 sales per week for the past couple of months. This is great news for buyers who continue...

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Mixed Signals are becoming routine.

 

Here we are rapidly approaching the Spring market. It is fair to say the industry is expecting brisk activity, but how the market will actually unfold remains to be seen.  Despite news coming out of the Lower Mainland of a significant slow-down in actual sales, the situation that is not being weighted is the low inventory throughout the region and apparently the Province.  Demand remains strong, and with this lower inventory, basic economics would...

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.