Welcome to the Sunshine Coast Realty Blog


Winter 2019

Welcome to a white and cold start to the New Year!  It never ceases to amaze m
e how most of the country thrives in a deep freeze all winter but here in Lotus Land, we get a few inches of snow and all things come to a grinding halt. The same holds for real estate as the market basically has decided to ride out the cold and take a break. It goes against my sense that this is going to be a very normal year of activity so at this point, I’m not so sure that once we see the melt,...

Read full post

Queen of Surrey, BC Ferries Sunshine Coast, Real Estate

MV Queen of Surrey (Photo: bcferries.com)

 

BC Ferries has responded to the voice of the Sunshine Coast in a manner that I can't recall happening before. Facing a scathing public reaction to a ferry schedule that was entirely unreliable for commuters and incapable of being timely, BC Ferries undertook the step of consulting the public on delivery of their schedule.

 

This sort of public consultation has happened in the past, and typically little change has come of it.  However, a couple...

Read full post

Some Key Information for the First time Buyer's Loan Program

By now most of you will have heard that the British Columbia government is providing matching low interest loans to first time buyers. This is a remarkable opportunity for many that have been able to save but perhaps not have quite enough for a downpayment. Here are the details: 

 

To qualify, buyers must:

  • Be buying their first home;
  • Obtain a high-ratio, insured first mortgage for at least 80 per cent of the purchase price;  ...
Read full post

Sunshine Coast Real Estate Homes, Apartments, Condos

 

Listening to the news these days one is led to believe that things are slowing down, but some perspective on the numbers locally shows very strong underlying demand. Despite a pace of sales which is about half of what we saw last year, two things stand out: First, despite a marginally increasing inventory, the sales vs. listings ratio continues to steadily climb towards a Seller's Market. This is resulting in steady price increases year over year with well over half our detached listings priced...

Read full post

From our RE/MAX Oceanview Office:

 

The April statistics show our Spring market is in full bloom. There were 67 detached homes sold this past month. That’s an increase of 13% over March and the second busiest April in 10 years. The Benchmark Price – that is, the price of an average home in an average area – rose another 2.8% last month to $532,300. This is due mainly to fewer listings, which are down 25% from last year. 


Apartments and townhome sales totaled 23. That...

Read full post

Recent media is quite a mixed bag with one pundit admitting that they can spin stats to read any sort of preferred slant.  Shocking!  I guess this is the foundation of “fake news”.  What isn’t fake is that despite lower numbers of sales due of low inventory, there remain a lot of motivated buyers wanting to get into our Sunshine Coast real estate market. 


Markers that have indicated a continued shift towards a “Seller’s Market” on the Sunshine...

Read full post

From the office this week: 

"Recently we’ve shown how there is more to our professional listing service than lawn signs and ads in the paper. We talked about our expert advice on staging, pricing and MLS. We covered qualifying buyers, dealing with offers and turning those offers into contracts. But doing this requires a skill that most non-professionals find difficult: negotiation. Many people don’t like negotiating. They find it difficult to advocate their own position and they equate...

Read full post

…Is what I would have said if April Fool’s Day fell on Sunday, but it didn’t so there you are!

 

Despite the wayward weather this winter, the market has been consistently showing a slight trend towards what we call a Seller’s market. With better weather we’re seeing now and our typical Spring market, it is quite apparent that we are heading for an increasingly tight inventory for the next couple of months. Exactly how much that affects the values is yet to be d...

Read full post

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...

Read full post

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.


 

...
Read full post

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...

Read full post

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...

Read full post

Sunday Morning Musings – Feb 19, 2017

 

The signals coming from the Market have been getting stronger and stronger over the past few weeks.  Despite my broker insisting that statistics are demonstrating a more balanced market and lower overall activity, this really doesn’t reflect what we are “feeling” currently.

 

Buyers remain highly motivated, and prices remain on a steady upward trend.  Good properties are seeing multiple/competing offers immediately....

Read full post

The past two week's experience demonstrates what an interesting and dynamic market we are currently in.  I had clients lose out on a competing situation to another party that decided to go "subject free" on their offer of the same amount as my client's.  

Sunshine Coast Real Estate Buyer's Beware Buying Real Estate Property Sechelt

 
Typically, offers on homes are subject to a number of conditions, such as financing and a clean inspection. These are standard hoops to jump through for all parties that are designed to protect a buyer from making a bad investment,...
Read full post

A New Link, New Possibilities?

 

Talk of a fixed link to the Coast dominated the real estate landscape last year as many Lower Mainland purchasers became aware of the Coast and what was an oversupply in a soft market and began speculating on the upside of the market. This interest and excitement led to the strong numbers we saw in 2016 and it's my prediction we will see more of the same going into the Spring and a Provincial election. 

 

Will Discussions Continue?

 

There are quite...

Read full post

Consumer Confidence and Trump

 

While consumer confidence continues to be at high levels in BC, there have been some downward pressure.  Over the years, my Broker has been tracking how Sunshine Coast real estate cycles closely follow what the consumer confidence mood is in the Lower Mainland and British Columbia.

 

The two major issues that are going to affect how people are feeling - our upcoming provincial election, and Trump.

 

It will be interesting to watch consumer confidence...

Read full post

The real estate market on the Sunshine Coast was very active in 2016.  Here are some of the major highlights that have come from our office.

 

Detached Homes

  • There were 952 detached homes sold. That’s 194 more than 2015’s total of 758; an increase of just over 25%. The increased activity was reflected in the Benchmark Price – that is, the price of an average home in an average area – which rose 26% last year, to $492,900. 
  • Strong demand, short supply, and a large...
Read full post

On occasion I've provided individual people with a regular weekly update of what I thought was going on with real estate on the Sunshine Coast.  I called it my “Sunday morning musing”, and it was made up of the things I see going on in the world and in our communities that are influencing our local real estate scene. Over time, I’ve found that clients often wanted to keep hearing the musings even after they’ve bought or sold – so much so, in fact, that I've decided...

Read full post

 

Is the call of the great outdoors getting louder? A cabin on the Sunshine Coast can be a great place to escape to. Before you start shopping, here are a few things to consider:


1. Can you afford it?
You may have found a great cabin at a great price. Don't forget, however, to calculate annual property taxes and maintenance costs. Insurance for second homes can run higher than for primary residences. Financing may be more expensive for a second home as well. Get quotes, do your research and do...

Read full post

Here is our weekly real estate report for the Sunshine Coast, created by our brokerage Re/Max Oceanview in Sechelt, BC.  As you can tell by the numbers below, the Sunshine Coast Market is hot.  Be sure and give us a call if you're interested in buying or selling your property on the Sunshine Coast.

 

Read full post
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.