While there were more real estate sales in May 2024 than the previous year, the dollar value of units sold in May 2023 was higher.
“If you asked the realtor on the street, they would say prices are up or heading that way, based on some of the sale prices we have seen recently,” said Powell River Sunshine Coast Real Estate Board MLS statistics director Neil Frost. “We will see what June brings.”
Frost, in reviewing year-to-date statistics, notes that from the beginning of the year to June 4, 2024, the real estate board report is up in sales volume (18.6 per cent) and new listings (almost 29) per cent, compared to the same period in 2023. Statistics indicate in the year-to-year comparison that dollar volume, year-to-date, is up slightly, and there is a drop in average sales prices of 6.2 per cent, according to Frost.
“It will be interesting to see how this plays out for the rest of the year,” said Frost.
In the single-family homes category, in May 2024, there were 20 sales, totalling $12,951,300, compared to 25 sales, valued at $19,644,077, in May 2023.
There were seven sales in the mobiles and manufactured homes category in May 2024, valued at $1,940,900, compared to no sales in May 2023.
In the condo, apartment and duplex category, there were seven sales in May 2024, valued at $3,439,000, compared to two sales, valued at $1,370,000, in May 2023.
For residential totals, there were 34 sales in May 2024, valued at $18,331,200, compared to 27 sales, valued at $21,014,077, in May 2023.
On the nonresidential side, there were three parcels of vacant land sold in May 2024, valued at $807,500, compared to three parcels in May 2023, valued at $1,240,000.
For industrial, commercial and institutional sales, there were two in May 2024, valued at $1,071,000, compared to one sale in May 2023, totalling $152,000.
Totals for nonresidential indicate five sales in May 2024, totalling $1,878,500, compared to four sales, valued at $1,392,000, in May 2023.
Grand totals for May 2024 show a combined 39 sales, valued at $20,209,700, compared to 31 sales in May 2023, valued at $22,406,077.
Average monthly selling price for a single-family home in May 2024 was $647,565, with an average of 37 days on the market, compared to $785,763 in May 2023. The May 2024 average figure was a 17.6 per cent drop in price over May 2023. Average days on the market in May 2023 was 44.
In terms of new listings in May 2024, there were 63 residential, and 15 nonresidential, for a total of 78. Residential active listings at the end of May 2024 were 173, and nonresidential were 66, for a total of 239 active listings.
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