Sunshine Coast BC January - December 2016 Lot Sales
2016 was a great year for land sales on the Sunshine Coast. The 386 sales were a 140% increase over 2015’s sales and over 540% on 2013. And, the 2016 sales is a new record high besting the 380 sales set back in 2004 - a peak year in last real estate boom. Actually, many if not most of the lots under an acre that sold in 2016 were purchased as investment properties back at the height of the last boom. Yep, they were stuck holding those lots for a decade or more and, if lucky, may have recouped their purchase price with the 2016 sale.
And we’re on another speculative merry-go-round in this real estate boom. Many lots under an acre bought in 2016 are now being flipped in 2017 at anywhere from a 50 to 100% profit as I showed in this June 13th post. As soon as I get these 2016 stats out of the way, I’ll get those 2017 stats up.
Finally, I would recommend you take a quick look at the first four 2016 stat posts - click on ‘SC - 2016 Sales Stats’ in the Labels column to the left. Stats Post #2 is especially important to read regarding a Bloomberg article that appeared March 3, 2016 and was reprinted the next day in the Vancouver Sun. After reading that post, note the months of peak lot sales in the ‘Total’ column of large table. You will see this pattern repeated in all the 2016 stats I am about to in the days ahead.
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My first inclination was to moderate to avoid trolling; however, l'll now take a wait and see attitude. Comments will appear as soon as published. If I start seeing garbage comments, I'll flick the switch and return to moderating. Skook