Tuesday 24 July 2018

SC - 2018 Stats Post #5

Sunshine Coast Single Detached Home Sales by Price Range Under $1 million

Single detached home prices have risen significantly since mid-2015 when buyers/investors returned to the SC in droves. Compared to major markets (e.g. Vancouver, Toronto), house prices back then on the SC must have caused eyes to pop - they looked so cheap by comparison.

 I have put together 4 pie charts that show year-to-date (January-June) detached sales by price range for the last four years: 2015 to 2018. They aptly show how demand and willingness to pay (motivated by cheap money and willing banks) moved home prices and buyers into higher and higher price ranges. In 2015, 35.2% of homes sold were in the $300,000-$399,999 price range. By 2018, the majority of sales (24.3%) have occurred in the $600,000-$699,999 price range. (Note: Peak sales for detached home happened in March 2016 at 136 sales. May 2016 sales hit 133 and then the frenzy ended).

Turning to 2018, I have decided to show sales by price range via quarterly reports.

Q1: January - March, 2018

Q2: April - June, 2018

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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