Russ & April Qureshi

 

Housing Price Index for the month of December is up over last year by 5.6%, up 4.3% over 3 years ago, up 4.5% over 5 years ago and (again proving real estate is, overall, your best investment) up 123% over 10 years ago.

 

Lets look at the past year entirely over the whole year of 2010:

 

In 2011 there were 94 attached home sales with a median price of $273,000 as compared to 2010 with 106 sales and the median price $245,000. Percentage wise we were down 11% in total unit sales and up just over 10% in selling price. The rise in asking price can, partially, be attributed to the new development Watermark in Sechelt coming online and the higher asking prices that project commanded.

 

In 2011 there were 452 detached home sales with the median price of $390,000 as compared to 2010 with 506 sales and the median price of $410,000. As a percentage we were down just over 10% in total unit sales and down almost 5% in selling price.

 

Detached home figures paint a clear picture of the market on the Sunshine Coast over 2011. We are/were seeing less sales and the homes that sold did so for less money. Definitely a buyers market and I see this trend continuing through 2012.

 

On a positive note it's heartening to see, that despite the tough time attracting buyers last year, we only dipped 5% in actual sold prices of most homes. We're weathering this economic uncertainty quite well here on the Coast. This statistic clearly shows that sellers must price their home and property correctly right out of the starting gate.

 

April and I have both been extremely busy over the previous month of December and this is continuing into January so lets move forward into 2012 with a sense of optimism!  

 

Cheers, 

Russ