Russ & April Qureshi

September 2011 was another bright month in comparison to September 2010.

Today's market is catching up with last years results on the Sunshine Coast due to increases in dollar sales, number of units sold and average unit prices in September 2011 over September 2010.

All the statistics point in a positive direction despite the fact that April and I are facing a lack of consumer confidence on the ground. 

What does this mean for buyers? 

Most buyers are very savvy and guess that there will not be a significant rise in market values over the next few months. This results in a mind set of "lets wait and see". 

Personally, I think this is risky and mistaken thinking when it comes to buying for long term investment. Generally, homes on the Sunshine Coast are selling at 3-7% below asking value. When you write your offer today you can make your offer taking into account any near future slippage in prices. 

What does this mean for sellers? 

Sellers have to be priced right for the market today and must be open to all offers. Sometimes a price adjustment needs to be made to reflect overall market values to date as it takes an average of 120 - 180 days to sell on the Sunshine Coast. 

Despite the sudden increases in September we are still down year to date. Housing price index on the Sunshine Coast is down 0.7% over last year and down 4.4% over three years. 

Statisitcs Summary for September 2011: 

Detached homes sales summary:

• dollar sales are up 24% over Sept 2010, year to date (YTD) decrease of 13%
• number units sold is up 17% over Sept 2010,  YTD decrease of 8% 
• average price per unit is up 5% over Sept 2010, YTD decrease of 5%

 Attached homes (condos and town homes) sales summary:

• dollar sales are up 70% over Sept 2010, YTD decrease of 15%
• number of units sold is up 20% over Sept 2010, YTD decrease of 17%
• average price per unit is up 41% over Sept 2010, YTD increase of 2%

Land Only sales summary:

• dollar sale are up 6% over Sept 2010, year to date (YTD) increase of 2%
• number units sold is up 37% over Sept 2010,  YTD increase of 19% 
• average price per unit is down 22% over Sept 2010, YTD increase of 27%

Buyers, when you find the right place at the right price now is a great time to write the best deal.

Sellers, keep your home in tip top condition, price it right and be ready to look at all offers. 

See you next month for more insightful commentary regarding real estate on the Sunshine Coast of BC. 

Cheers, 

Russ