Sunshine Coast, BC June 2019

There were 44 sales of detached homes. That  represents a small decline from May’s total of 47; it’s also down 14% from the 51 sales in June of last year. This marks the 14th month out of the last 15 where the monthly sales total is less than the corresponding month from the year before. The YTD total of 213 is also down 23% from 276 sales in 2018. The Benchmark Price – that is, the price of an average home in an average area – dipped .2% to $599,100. That’s the first time it’s been under $600,000 since February of 2018. The data continues to show downward pressure on prices. How this affects prices will depend in part on the supply of listings. So far, we’re ahead of 2018 totals by 9%. With land, June’s sales improved to 7 from just 2 in May. However the YTD total of 38 still lags behind last year’s total of 87. That’s a drop of almost 56%. For condo’s and apartments, there have been 76 sales so far this year vs 92 this time last year. While it’s better activity than land or detached, attached sales are still down 17%. However, prices for land and attached appear to be unchanged by the slower activity. Again, we will be watching the supply of listings closely.