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. In particular, there is a push on attached properties like condos and townhouses, with a veritable run on apartments over the past 6 months. Currently we have 49 units listed on the Sunshine Coast and have had 95 sales since August last year. This doesn’t include those units that are currently under offer, of which I am involved in a couple.
This is in part further evidence that the Sunshine Coast continues to be a premium retirement destination and prices are favourable compared to other areas. However, the prices are rising steadily now and this is in large part because there simply aren’t any detached houses for under $400,000. Sooner than later that could be under $500,000! So not only are detached homes rising, but apartments and attached units are seeing strong gains. It's a great time to act.
This all goes to demonstrate that 2017 is going to be a robust and dynamic year for sellers and buyers. Will be interesting!