SC - 2017 Sales Summaries

2017 Sunshine Coast Year End Tables and Charts

In late 2015 and early 2016, anything that wasn’t nailed down sold. The Sunshine Coast was at bargain basement prices and the deals were too good to ignore for lower mainland investors; perhaps including ‘pre-sale’ contract flippers and money launderers (been reading the ugly news stories involving the BC Liberals?) I was seeing some weird shit in some development pre-sales at this time and now I think I know why.

But it all came to a screeching halt by May 2016 - this was 2007 all over again. There were no more bargains and the multiple offers and hundreds of buyers dried up. Oh, there were still a few stragglers suffering from “fear of missing out” (FOMO); but, now their two year variable rate mortgages are coming up for renewal at higher interest rates and the banks may turn them down if they can’t pass the “stress” test which will go up, too, following this past Tuesday's Bank of Canada’s rate increase. Of course, the plan was never to renew but to flip after two years (got to keep an eye out for the Canada Revenue Agency). But, to add insult to injury prices are dropping across the board - big time. You’ll see that in my 2018 posts.

Liar, Liar...

...Pants on Fire!

Who am I kidding? It’s blatantly obvious I won’t get the rest of 2016 stats posted let alone 2017.  So, here’s the deal. I have just completed tables and charts for a 2017 Sales Summary Post - that will go up today. Then, I’m moving right into 2018 stats...praise the Lord.

I’m warning you now those 2018 stats posts cover January to June and will be massive because I have been very creative with my tables and charts. I have gone all out because these could be my last postings. The ultimate goal is to finish the year and call it quits, regardless.

I’m back...for now...

The last seven months have been challenging and unfortunately will continue to be so. My cognitive abilities and energy level have definitely been impacted by my recent treatments (radiation and chemo). However, I’ve always liked a challenge and catching up on this blog would definitely offer that.

I have just added “SC 2016 Stats Post #9” below. I had it and another post more or less ready to go at the time of my brain malfunction. Reading it today is a challenge for me, so I hope it makes sense to you - at least the charts look good. There will be a few more posts coming to finish of 2016.

As for 2017 data, I think I might just upload the tables and charts and keep the text to a minimum just so that I can get caught up. Well, that’s the goal anyways.

SC - 2016 Stats Post #9

Sunshine Coast 2016 Single Detached Home Benchmark, Median, and Average Sales Price

I began my last post (#8) with the explanation that there are three data sources that I turn to for my statistics posts and that they all report single detached home sales differently:

• REBGV: combines all price range SDH sales + MOP sales.
• SC Realtor® Gary Little: combines all price range SDH sales; reports MOP sales separately.
• Skook: combines SDH sales under $1 million dollars + MOP sales; reports $1 million dollar sales separately.

The table and chart below shows an important aspect of their reporting method - the number of sales used in their medium (MSP) and average (ASP) sales price calculation varies. To illustrate: in May 2016, the table on the left shows there were 16 sales ‘$1million’ and above and 3 manufactured on pad (MOP) sales. 

Challenging News for Skook

Emergency CT scan on Aug 23rd shows 3 brain lesions...the "C" has spread, again. I began radiation treatments on Sept 1st and it will continue until the end of the month.

One of the lesions is located in the short/long term memory area of the brain and as treatment progress, what is already a challenge may become more so.

I have just a couple of posts left for 2016 and would like to get up Jan to Aug 2017 SC Sales data likely just charts and tables as adding text is a bit of struggle.

Mentally, I'm OK. I've been  expecting it. It's now just one day at a time, now. I'll putz with the site as long as I can.

SC - 2016 Stats Post #8

Sunshine Coast BC 2016 Single Detached Home Sales

This post is one of a final few 2016 stats posts still to come and they’ll all zero in on single detached sales. It is important to keep in mind that I present SDH sales based on three data sources and they each report home sales differently:

• REBGV: combines all price range SDH sales + MOP sales.
• SC Realtor® Gary Little: combines all price range SDH sales; reports MOP sales separately.
• Skook: combines SDH sales < $1 million dollars + MOP sales; reports $1 million dollar sales separately.

SC - 2016 Stats Post #7

Sunshine Coast BC January - December 2016 Real Estate Sales - All Types

(July 4: Post updated. I've added 'Residential Sales by Area.)

Aw, the merry, merry month of May...2016. Buyers were suffering from either FOMO or a collective brain fart or maybe both. I wrote back on Oct 31st (Stats Post #4) in addition to peak sales it was the month of peak stupidity.

SC - 2016 Stats Post #6

Sunshine Coast BC January - December 2016 ‘$1mill+’ Single Detached Property Sales

I strongly recommend you take a quick look at my early 2016 Stats post - 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. The piece is about retired Vancouver lawyer Jonathan Baker who sold out in Vancouver and  moved to the Sunshine Coast - “pocketing millions” in the process. You want to keep the date of that article in the forefront of your mind as you look at these ‘$1mill plus’ single detached home sales and all other 2016 stats I will post in the days ahead.

SC - 2016 Stats Post #5

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.

Happy Canada Day!

Property: 678 Fairmont Road, Gibsons BC. R2177765
Listed: Jun 15, 2017
Listing Price: $825,000
Price Drop: $807,000 (June 30)
Days on Market: 17 (July 1)