BC Sunshine Coast real estate by Menno at Royal lePage Real estate on the BC Sunshine Coast

At the beginning of each month, the Real Estate Board of Greater Vancouver comes through with  the market statistics for the previous month which would be January 2013 in this instance. We compare with last month and with January 2012.

Our real estate board offers up sales statistics for the entire region, including all of Greater Vancouver, Squamish, Whistler and the Sunshine Coast.

Our Real Estate Board (REBGV) covers the entire area of Greater Vancouver. This includes the Sunshine Coast – although our statistical developments aren’t always identical to the results across the water. The last year was a perfect example of the differences in the two markets. While Greater Vancouver, in general, was showing reduced sales numbers, we were very stable in our sales numbers on the Sunshine Coast. Also as to sales prices, we were substantially different from the Greater Vancouver trend. While there was some price softening in the Greater Vancouver area, we saw a very steady price hold on the Sunshine Coast.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment-style properties reached  1351 during January 2013.That’s less than in January 2012 but it’s substantially more than in December 2012.

In many Vancouver areas, the softening of the markets has created a general decline in selling prices of about 6 percent over the last 8 months. At the same time, many home sellers have removed their homes from the market because they do not wish to sell for a price that’s lower than they had envisioned.

When reading sales stat information, always keep in mind its geographical limitations. What happens in Toronto, for instance, is not the same as what happens here.

NEW LISTING DECLINE

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,125 in January 2013. This represents a 10 per cent decline compared to the January 2012 but also, of course, an increase from December, traditionally the slowest real estate month of the year.

The total number of properties listed currently in Greater Vancouver is 13,246. This is a bit more than in January 2012 but also a bit less than in December 2012. It is believed that most markets in Greater Vancouver remain to be leaning towards the “Buyers Market”.

We have a little bit of an insular situation here on the Sunshine Coast. Our market doesn't go up or down much, like it does in various others places.

THE MARKET ON THE SUNSHINE COAST

The month of January of each year is fairly slow, in comparison, on the Sunshine Coast. We saw only 26 sales firm up during the month of January 2013 (this includes detached, attached and apartment-style properties). This number is too low to extract any relevant sales values from, particularly if we recognize these three distinctly different groups of properties.

For instance, the median selling price of detached homes (of which there still were 22 during January) came to about $289,000. This means that there were as many homes selling above that price as below that price, during the month. This is an unusually low number; being an indication that there were quite a few sales in the lower price ranges and fewer in the higher price ranges.

Last year in January, this median amount was $363,000; again indicating that there were as many homes selling above that price as below it. Obviously, such a change in a single figure does not mean that the whole market has changed dramatically, all of a sudden. It would not be possible.

On the Sunshine Coast, listing numbers are very stable too - with the normal season variations of course. January is usually a busy listing month.

LISTINGS ON THE SUNSHINE COAST

There were 104 “new listings” for single family homes on the Sunshine Coast in the month of January 2013. For townhomes the number was just 15; for apartment-style units the number was 9. It’s remarkable that these numbers are virtually the same as in January 2012.

Please note that a new listing isn’t always new to the market. These could be listings that were previously on the market and didn’t sell, then were relisted. Those are also counted as “new listings”, although they of course aren’t actually new to the market.

The total number of listings on the market right now on the Sunshine Coast is 450 (single family homes), 150 (attached including apartment-style units) and 344 land-only listings.

If you enjoy statistical information, then the below-noted extra blog articles about these and related topics might interest you as well.

MORE statistical information for the Sunshine Coast is available here:

Last month’s stats: http://www.mennorealty.ca/Blog.php/dec-2012

The stats one month prior: http://www.menno.ca/?p=18862

Lower interest rates: http://www.mennorealty.ca/Blog.php/buy-more-lowrates

Time of year market statistics: http://www.mennorealty.ca/Blog.php/coast-best-time