Anyone following the real estate market these days knows we’re in unknown territory as far as predictions go. Very few of us could foresee year after year of competing offers, with homes commonly selling for well over the list price. And who knew the average price of an average home on the Sunshine Coast would top $900,000? So any guesses moving forward are just that – guesses. However, there are indications that the market could be poised for change. Interest rate hikes, the ongoing pandemic, inflation and an unstable political environment both at home and abroad are presenting headwinds. But there is another market factor which continues to override these headwinds: demand. It’s undeniable that demand for local real estate remains very strong. Many residents of the Greater Vancouver area would rather be residents of the Sunshine Coast. As long as this remains the case, our local market will not be cooling off. For the latest market information and analysis, Call us first!

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The real estate statistics for February are in. There were 49 sales of detached housing. This is

a large increase over January’s total of 36, but well off the 71 sales in February, 2021. The

Benchmark Price – that is, the price of an average home in an average area – increased a

staggering 8.2% to $973,900. This is the largest single month increase on record and another

indicator of the incredible ongoing demand for local real estate. With attached housing (condo’s

and apartments), there were 18 sales. This is up from January, but 66% down from February of

last year. The average Benchmark price for apartments was $567,400, while townhomes

jumped to $712,400. As for vacant land, there have been 31 sales year to date, down from 50

this time last year. The Benchmark price isn’t available for vacant land, but we feel prices are

still rising. How can prices rise while overall sales decrease? High demand coupled with low

inventory means upward pressure on prices. Stay informed - Call Us FIRST!

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Many homes on the Sunshine Coast – especially homes located outside the downtown cores of Gibsons and Sechelt - use a septic tank and drain field for sewage disposal. This can present a puzzle to some buyers who are relocating from urban areas typically serviced bysewer systems. They’re unfamiliar with septic systems and therefore at a disadvantage. That’s where a local RE/MAX Oceanview agent can help. We know how these systems work and that they’re generally a reliable and environmentally sound way of sewage disposal. However, it is a specialized area of expertise and standards continue to upgrade. That is why we always recommend a professional inspection by a qualified practitioner, just to ensure the system is functioning properly and to identify any repairs that may be needed. By explaining to buyers ahead of time what they can expect we can often set aside any misgivings they may have. Do you have real estate questions? Call your RE/MAX Oceanview Agent FIRST!!!

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.