Sales numbers were similar, but housing prices in the qathet region were down in July 2024, compared to July from the previous year.
“Total sales for July 2024 were very comparable to June 2024, with the same amount of single-family homes selling for both months (19),” said Powell River Sunshine Coast Real Estate Board (PRSCREB) president Curtis Yungen. “In July 2024, the single-family home median price was $650,000 while the June 2024 single-family home median price was $680,000, which is an approximately five per cent difference.”
Yungen said comparing July 2024 to July 2023, total sales were down slightly for 2024, while the median price for a single-family home was down 11 per cent, according to PRSCREB data.
In terms of year-to-date statistics, Yungen said there are two notable observations.
“We continue to be up significantly in new listings (23.28 per cent year to date), and while we are up in overall sales year to date, those sales are just not keeping pace with the new listings,” said Yungen. “Single-family home sales are up 7.75 per cent year to date, compared to 2023. So, in short, the listings keep coming on, and while we are selling more homes than in 2023, we are starting to see a growth of inventory.”
Yungen added that the year to date median price is down almost six per cent compared to this time last year.
For single-family homes, there were 19 sales in July 2024, valued at $11,728,400, compared to 20 sales, valued at $15,926,725, in July 2023.
In the mobiles and manufactured homes category, there were four sales, valued at $610,000 in July 2024, compared to three sales, valued at $754,500, in July 2023.
Condos, apartments and duplexes featured one sale in July 2024, valued at $810,000, compared to five sales, valued at $1,994,800, in July 2023.
Totals for the residential category show 24 sales, valued at $13,148,400, in July 2024, compared to 28 sales, valued at $18,676, 025, in July 2023.
On the nonresidential side, in July 2024, there were two sales of vacant land, valued at $310,000, compared to five in July 2023, valued at $1,066,000. There were two sales in the industrial, commercial and institutional category in July 2024, valued at $1,390,000, compared to none in July 2023.
Totals for no-residential indicated four sales in July 2024, totalling $1.7 million, compared to five sales, valued at $1,066,000, in July 2023.
Grand totals for sales show 28 in July 2024, valued at $14,848,400, compared to 33 sales in July 2023, valued at $19,742,025.
The average selling price for a single-family home in July 2024 was $617,284, with an average of 93 days on the market. The average selling price in July 2023 was $796,336, with an average of 56 days on the market.
In terms of new listings for July 2024, there were 59 residential and 20 nonresidential, for a total of 79 new listings.
Active listings at the end of July 2024 were 229 residential, and 88 nonresidential, for a total of 317 active listings.
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