Robust spring market for Powell River Sunshine Coast Real Estate

Real estate sales and dollar values for qathet region real estate sold in April 2024 were double that of the previous year.

“Activity in April 2024 and the months leading up to it suggest a robust spring 2024 market,” said Powell River Sunshine Coast Real Estate Board president Curtis Yungen. “The 28 single-family homes sales in April 2024 is up from 23 sales in March and way up from the 15 in February.

“Total residential sales are on the rise, too, with 19 in February, 27 in March, and 32 in April.”

Yungen said year-to-date statistics show a large increase in the number of sales over 2023 for the same time period. Year-to-date average price and median price compared to 2023 shows the amounts to be slightly down, he added. However, sales prices in April 2024 jumped sharply, suggesting higher or increasing home values in the coming months, according to Yungen.

In the single-family residential category, there were 28 sales in April 2024, amounting to $20,575,500, compared to 13 sales, valued at $9,706,800, in April 2023.

In the mobile and manufactured homes category, there was one sale in April 2024, valued at $405,000, compared to one sale in April 2023, valued at $182,000.

In the condos, apartment and duplexes category, in April 2024, there were three sales, valued at $1,282,900, compared to four sales in April 2023, valued at $2,002,000.

Total for 32 residential sales in April 2024 were valued at $22,263,900, compared to 18 sales, valued at $11,890,800, in April 2023.

For nonresidential sales, there were seven parcels of vacant land sold in April 2024, amounting to $1,646,000, compared to two parcels in April 2023, valued at $1,030,000.

In the industrial, commercial and institutional category, there was one sale in April 2024, valued at $450,000. There were no sales in this category in April 2023.

Totals for nonresidential indicate eight units sold in April 2024, valued at $2,096,000, compared to two sales, valued at $1,030,000, in April 2023.

Grand totals for all sales were 40 in April 2024, valued at $24,359,400, compared to 20 sales, valued at $12,920,800, in April 2023.

In terms of single-family residential pricing, the average in April 2024 was $734,939, with an average of 66 days on the market. Average price in April 2023 was $746,677, with an average of 86 days on the market.

In terms of new listings, in April 2024, on the residential side, there were 72 new listings. In nonresidential, there were 15 new listings, for a total of 87 new listings for the month of April 2024. In terms of active listings, there were 158 residential listings at the end of April 2024 and 64 nonresidential listings, for a total of 222 active listings.

Year-to-date statistics show 170 new listings from January 1 to May 3, 2024, up from 126 in the same period for 2023, for a 34.92 per cent increase.

Sold listings from January 1 to May 3, 2024, were 83, up from 63 for the same period in 2023, for a 31.75 per cent increase.

The dollar amount of sold listings for the four-month time period was $55,685,250, in 2024, compared to $43,160,900, in 2023, for a 29.02 per cent increase.

Average selling price for the four-month time period was $650,000 in 2024, compared to $685,094 in 2023, for a 2.07 per cent decrease.

Average days on the market in 2024 was 66, compared to 78 in 2023.

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