Sunshine Coast, BC  January 2019

There were 19 sales of detached homes in January. That’s up from December’s total of 14, but still almost 50% less than the 36 sales noted in January of 2017. That’s a significant drop and it’s the 11th month in a row that the monthly sales total was less than the corresponding month from the year before. The Benchmark Price – that is, the price of an average home in an average area – also fell 2.2% to $600,000. Looking back, 4 of the past 6 months have featured a decrease in the Benchmark Price. We believe this pattern could continue in 2019 as new listings come on to the market. With land, there were 8 sales. That’s less than 1/2 of January’s total last year; yet prices seem unaffected, at least for now. Apartments and condo sales have also dipped, falling to 7 this January from last January’s total of 11. As with land, prices for apartments and condo’s appear to be holding firm. This is due to a lower price point and a steady demand from retired and semi-retired buyers. As before, if you have property to sell, we are still at or near all time highs for prices. Avoid the Spring rush - contact your RE/MAX Oceanview Agent now for a market update.