Confirms Buyer's Market ; Local Trends on the Sunshine Coast
The first half of 2025 has firmly tipped BC’s luxury market in favour of buyers. In Vancouver, sales of homes priced over $4 million fell 51% year-over-year, while $1 million-plus transactions dropped 26% — the steepest declines in the country. Elevated inventory, steady interest rates at 2.75%, and cautious buyer sentiment have shifted negotiating power away from sellers.
National Luxury Market Snapshot
According to Sotheby’s 2025 Mid-Year State of Luxury Report:
- Toronto – Sales over $4M dropped 29%, while $1M+ transactions slid 23%.
- Montréal – Luxury sales over $4M held steadier, down only 8%, though $1M+ sales still dipped 18%.
- Calgary – The outlier in Canada’s top-tier markets, where $1M+ sales actually rose 12% year-over-year, supported by strong in-migration and a robust energy sector.
- Vancouver – The hardest hit, with the 51% decline in $4M+ sales and 26% drop in $1M+ transactions.
Overall, Canada’s luxury housing market has cooled, with BC leading the slowdown.
Sunshine Coast Spotlight
The slowdown is even more pronounced here at home:
- No sales over $2,000,000 across the Sunshine Coast in August.
- 2025 (Jan–Aug) – 10 Residential Detached sales over $2M (Status: F), averaging $2,971,750, for a total of $29.72M in volume.
- 2024 (Full Year) – 40 Residential Detached sales over $2M, averaging $2,966,430, for $118.66M in volume.
- 2025 Projection – If the current pace continues, the year could end with just 15 sales and about $44.6M in volume — less than half of 2024’s totals.
For buyers, this sharp slowdown means less competition, more choice, and greater flexibility at the negotiating table. For sellers, it underscores the importance of pricing strategically and ensuring their listing gets the widest exposure possible.
Expanding Our Buyer Reach: The U.S. Market
One of the key advantages of the Sunshine Coast is that it remains exempt from both the Foreign Buyer Tax and the Empty Homeowners Tax, making it especially attractive to U.S. buyers. At Manley, York & Associates, we are actively targeting this audience with:
- Google Ad campaigns in California and Washington State — where many of our recent luxury buyers have originated.
- Tailored digital marketing to high-net-worth individuals seeking vacation properties, retirement homes, or investment opportunities just across the border.
The Sotheby’s Advantage
No other brokerage offers the global reach that Sotheby’s International Realty delivers:
- 120+ media partners worldwide, including The Wall Street Journal, Financial Times, Bloomberg, and Architectural Digest.
- Exclusive exposure in international airports — with Rachel and Janai profiled as the Sunshine Coast experts.
- A prominent billboard at Canada Place in Vancouver, putting us and the Sunshine Coast in front of hundreds of thousands of visitors this year.
This means your home isn’t just listed — it’s showcased on a global stage, reaching qualified buyers that local brokerages simply cannot access.
The Takeaway
With waterfront and high-end listings moving slower than in past years, buyers on the Sunshine Coast have a rare opportunity to secure exceptional properties at favourable terms. For sellers, our proactive U.S. marketing campaigns and Sotheby’s unmatched global reach ensure that your property stands out — attracting the right buyers at the right time.
📖 For a deeper dive into national and provincial luxury trends, explore the full Sotheby’s Top-Tier Real Estate: 2025 Mid-Year State of Luxury Report.