After a slow spring, June on the Coast came with an uptick in the market in almost every category. For the third month in a row, prices were up, with the MLS average price for the Sunshine Coast across all categories increasing to $799,200 from $787,600 in May. That said, prices are still down 4.3% from the same time last year, with detached houses down 4.4%, townhomes down 0.7%, and apartments down 17.2%. 

Although the sales to actives ratio has increased to 10% from 7%, the market on the Coast continues to be strongly in a buyers market. The combination of lower prices and a buyers market means there continues to be great deals to be had, and we are seeing more buyers take advantage of these lower prices with the number of sales increasing.  Overall sales totaled 59, an increase from 47 in May, and of this, there were 53 detached homes sold for only the second time since May 2022 (the peak of the market in terms of price). Within the detached home category, there was a sizable increase in the number of homes sold at $1.5M or more, a price point that had been very quiet since the beginning of the year.

Attached home sales continue to be slow, with a total of 17 apartments and 24 townhomes sold in the first half of June, with each category having only 2 sales in the month of June.  For those looking to move up to a detached home from an attached home, the market has been difficult, however there is a real opportunity for those looking to enter the market, with 80 available attached options. 

• New Listings - 158 in June vs 158 in May

• Sales - Up 59 vs 47

• Days on Market - Down 29 vs. 30

• Total Inventory - Up  587 vs. 571 

• MLS HPI Price Overall - $799,200 in June vs $787,600 in May

• Detached - $851,200 vs $841,500

• Townhouse - $743,600 vs $744,200

• Apartment - $424,200 vs from $391,600

Whether the increase in sales and prices is a change of direction in the market, or the result of built up demand from a slow spring, there are certainly buyers taking advantage of prices we haven’t seen in a number of years! If you are curious about the market, or are considering making a move, please reach out any time.