MY January Market Update - 2023

The real estate market on the Sunshine Coast is showing signs of recovery after a sluggish 2022.  We have seen an increase in buyer activity and even multiple offers for several properties as homebuyers come back to the market after adjusting to the higher interest rates.    Although sales were low in January, there have been 8 sales so far just 4 days into February. 

 After a small increase to the HPI in December, The HPI home price for all the Sunshine Coast declined to $803,600, -4.6% from January 2022.   

25 Sales - 22 Detached | 0 Condos | 2 Townhomes | 1 Bare Land
Active Listings:  176 Homes | 35 Condos | 30 Townhomes | 50 Bare Land

Total inventory is still at historically low levels. As of Feb 3 there were 291 properties for sale across the Coast.    

Detached Homes: There are 15 homes listed under $500,000 however they are either located in mobile home parks (some with age restrictions) or on first nation leasehold.  These properties can be affordable options, however they do not qualify for traditional financing so can be harder to purchase for the average home buyer.  The lowest price for a Freehold Detached Home is currently a cute cottage in Davis Bay listed at $549,000 and the highest price is a spectacular private island listed at $15,000,000.

It took an average of 90 days on market for a detached home to sell, however homes priced between $1,000,000 - $1,300,000 took the longest to sell with an average of 160 days on market. 


There are 35 condos for sale across the Coast ranging from $439,000 for a 2 BR in a 55+ age restricted building to a stunning 2 BR & Den oceanview pre-sale condo in Gibsons listed at $1,649,000.   While there were no sales recorded for January, there are some fantastic apartments to be had.   Our listing on 122-5780 Trail is a 2 BR with views of Sechelt Inlet and was just reduced to $489,000 and with no rental restrictions, 
could be a great year round home or turnkey option for a vacation home. 


There are 30 townhomes available across the Coast.  While there are 5 showing as under $400,000 they are all 1/4 share ownership options in Painted Boat Lodge.  The lowest full ownership townhome is a 1 BR & Flex in a 55+ community in Gibsons, listed at $429,000 and the highest priced is  a waterfront 2 BR, 3 Bath townhome in Gibsons, listed at $1,299,000. 


If you're looking to build your custom home or have a piece of recreational property to escape to,  there are some great choices.  An average city lot in Sechelt or Gibsons will be around $400,000 - $500,000 depending on the size and views.  Waterfront starts at $639,900 for a 9000 sqft lot in Farrington Cove, Pender Harbour and waterfront acreage starts at $1,000,000 and up.  

8 Sales - 11 Detached | 0 Condos | 0 Townhomes
HPI Price $757,100  -3.5% ( all properties)
Median Sale Price: Detached Homes $757,750 - 16.1% 
Total Inventory: 82 - 58 Detached | 16 Condos | 8 Townhomes
Days on Market: 52  | New Listings: 22 -8.3%
Sales to Actives Ratio: .138 (Soft Buyers Market heading to Balanced) 

2 Detached House Sales -33.3%
Median Sale Price $1,460,000 +8.1%
Total Inventory: 15 Homes  | Days on Market: 71  | New Listings: 8 +300%
Sales to Actives Ratio: .133 (Soft Buyers Market heading to Balanced)

11 Sales - 9 Detached | 0 Condos | 2 Townhomes
HPI Price $786,700 -6.3% ( all properties)
Median Sale Price - Detached $769,000 -10.8% | Townhomes $528,750 -.7%
Total Inventory: 89 | Days on Market: 114 | New Listings: 32 +45.5%
Sales to Actives Ratio: .124 (Soft Buyers Market)

1 Sale -  Detached Home only 
HPI Price $960,200 - 2.4%
Total Inventory: 20 | Days on Market: 7| New Listings: 7 +40%
Sales to Actives Ratio: .05 (Strong Buyers Market)

2 Sales - All Detached Homes
HPI Price $807,200 -1.9% (Detached Homes)
Total Inventory: 35  | Days on Market: 33| New Listings: 6
Sales to Actives Ratio: .057 (Strong Buyers Market)   

At Manley, York & Associates, we understand that your home is your largest investment. 
We closely monitor the market to ensure our clients receive accurate and timely information about market conditions for each type of home and price range to help them achieve their goals when buying or selling a home. 

Email us or call us today at 604-817-7173 to find out what your home is worth in today's market and how our concierge service can help take the stress out of the buying or selling process.