Sunshine Coast Market Update - January 2024

The Sunshine Coast real estate market has held steady over the past few months and is looking bright for the upcoming spring. 

Interest Rates Holding Steady:

One of the key factors influencing the real estate market is interest rates. We're pleased to report that interest rates have remained relatively stable over the past month. This consistency provides both buyers and sellers with a sense of assurance and encourages continued activity in the market.

Buyers Getting Off the Fence:

With interest rates holding and inventory on the rise, we're seeing more buyers making decisive moves in the market. After months of deliberation, many buyers are finally getting off the fence and committing to their home purchase. This surge in buyer activity is injecting renewed energy into the real estate landscape and creating a sense of optimism for the months ahead.

Optimistic Spring Ahead:

Looking forward, all signs point to an optimistic spring season in the real estate market here on the Sunshine Coast. With stable interest rates, increased inventory, and motivated buyers, we anticipate robust activity and healthy competition in the coming months. Sellers can expect strong demand for their properties, while buyers can look forward to finding their ideal home in a dynamic and flourishing market.

As always, it's essential to stay informed and work closely with a knowledgeable real estate professional to navigate the ever-changing landscape of the housing market. If you have any questions or are considering buying or selling, don't hesitate to reach out. We're here to help you achieve your real estate goals.

Here's to a prosperous and exciting spring season in real estate!

Stats at a glance:

We continue to be in a Buyer's market for both Detached  homes and Condos at a Sales-to-Active Ratio of 8.5% and 10.2% respectively.  Townhomes however, have climbed into a Seller's market at a 25% Sales-to-Active Ratio.  Not surprising with only 16 townhomes currently on the market. 

Inventory remains low for all property types with only 248 detached, down from 258 in December, 29 Condos up from 24 and 16 Townhomes on the market in January, down from 21 in December.

Average days on market for Detached homes have decreased from 76 days in December to 56 in January.

The MLS HPI Price for Detached homes has increased slightly over the past month from $826,400 in December to $837,200 in January. 

A full snapshot of the Stats are below.

Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.