Sunshine Coast, BC August 2019

There were 49 sales of detached homes. That’s down from July’s total of 63 and the 54 sales noted in August of last year. This marks the 16th month out of the last 17 where the monthly sales total is less than the corresponding month from the year before. The YTD total of 325 is also down 15% from the 384 sales in 2018. The Benchmark Price – that is, the price of an average home in an average area – dipped 1.9% to $584,600. Taken together, the data continues to show downward pressure on prices. As to what this means going forward, we will be watching listings. A substantial increase in supply will encourage more price reductions. With land, there were 3 sales in August, down from 5 in July; the year-to date sales are 48, which is a drop of over 50% from last year. For condo’s and apartments sales have been more consistent than either detached or land. There were 11 sales in August, which is close to the sales noted in July ’19, and August of last year. As before, prices for land and attached appear to be unchanged by the slower activity.