Market Update - April 2022

I expect to see a continued increase in inventory over the next 3-6 weeks as investors cash in on a peaking market and those with somewhere to go decide this spring is the time to pull the trigger.

Summer may be slower than normal this year as many Canadians are ready to travel after a couple of years staying close to home. As such, real estate may take a back seat.

At the end of last month, we had 64 detached homes listed (22 under $1M) so more inventory is coming on the market.

Here are the rest of the numbers for March 2022 as well as year-to-date.

MARCH YEAR-OVER-YEAR (YOY)

• March 2021 saw 171 total sales: 84 of them were single- family detached and the average price of those homes was $1,114,000. The average time on market was 10 days, and the total dollar volume of sales was $142,896,000.
• March 2022 had 101 total sales: 55 of them were single-family detached houses with the average price of those homes being $1,190,000. The average time on market was 9 days, and the total dollar volume of sales was $98,147,000.
  

YEAR-TO-DATE (YTD)

• From January 1 to end of March 2021 saw 380 total sales: 173 of them were single-family detached, and the average price of those homes was $972,000. The average time on market was 20 days, and the total dollar volume of sales was $296,658,000.
• From January 1 to end of March 2022 there have been 255 total sales: 125 of them were single-family detached houses with the average price of those homes being $1,119,000. The average time on market has been 11 days, and the total dollar volume of sales was $238,819,000.

CURRENT SINGLE FAMILY DETACHED HOME INVENTORY LEVEL(S)

• Gibsons – 28 homes for sale; 7 of them under $1M
• Roberts Creek – 1 home for sale; 0 under $1M
• Sechelt – 39 homes for sale; 19 under $1M
• Halfmoon Bay – 4 homes for sale; 1 under $1M
• Pender Harbour – 8 homes for sale; 3 under $1M
• TOTAL INVENTORY – 80 detached homes listed: 30 under $1M

Despite some trepidation from buyers, I expect the spring Sunshine Coast real estate market to remain competitive. Call me at 604-418-2695 when you’re ready to buy or sell and I’ll guide you through a dynamic Sunshine Coast market.