Sunshine Coast, BC November 2018

There were 30 sales of detached homes. That’s well off of October’s total of 49 and the 50 sales noted in November 2017. This is the 9th month in a row where the monthly sales total is less than the corresponding month from last year. The Benchmark Price – that is, the price of an average home in an average area – rose 1.4% to $606,000. That’s the first increase in 3 months. Still, there’s been a 4% drop in the Benchmark Price over the last 6 months. With land, there were 5 sales last month. That’s similar to October’s total, but a long way off the 15 sales we saw in November of last year. As with other sectors of our market, supply is a problem and it’s affecting sales. Apartments and condo sales totaled 7 in November, just short of October’s total of 9, but still less than ½ of sales for November last year. The YTD sales are also down significantly – 132 YTD vs 223 last year. While we feel we will continue to see strong demand for attached housing, we are finding it difficult to predict prices or activity, given the current shortage of supply and lack of new projects coming on stream.