Real estate sales in the upper Sunshine Coast region were down in March 2024 from the previous year, but sales potential is looking good moving toward the warmer weather, according to a local spokesperson.
“I can tell you the market is really heating up, with more sales and competing offers starting to happen on certain listings,” said Powell River Sunshine Coast Real Estate Board president Curtis Yungen. “The spring market is in full swing and I see it just getting busier as the weather gets nice.”
In the single-family homes category, in March 2024, there were 23 sales, valued at $14,629,900, compared to 30 sales, valued at $19,904,800, in March 2023.
There was one sale in the mobile and manufactured homes category in March 2023, valued at $215,000, compared to one sale, valued at $79,000, in March 2023.
In the condo, apartment and duplex category, there were three sales, valued at $1,524,000, in March 2024, compared to four sales, valued at $1,830,000, in March 2023.
Totals in the residential category indicate 27 sales in March 2024, valued at $16,368,900, compared to 35 sales, valued at $21,813,800, in March 2023.
On the nonresidential side, there were two parcels of vacant land sold in March 2024, valued at $478,000, compared to two sales in March 2023, valued at $379,000.
Grand totals indicate 30 sales in March 2024, valued at $16,846,015, compared to 38 sales in March 2023, valued at $22,185,000.
Average selling price for single-family residential was $636,083 in March 2024, with an average of 83 days on the market, compared to $663,493 in March 2023, with an average of 68 days on the market. The median price in March 2024 was $590,000, down from $599,900 in March 2023.
In terms of new listings, there were 67 new residential listings and 14 new nonresidential listings in March 2024, for a total of 81 new listings. There were 146 active listings in the residential category and 60 non-residential, for a total of 206 active listings at the end of March 2024.
According to the Canadian Real Estate Association (CREA), the number of new listings saw a substantial gain of 30 per cent from March 2023. The 67 new residential listings in March 2024 were the largest number of new listings added in the month of March in two decades, according to CREA.
New listings were 23.1 per cent above the five-year average and 27.7 per cent above the 10-year average for the month of March.
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