Blog

April 2024 Market Update

Real Estate Monthly Market Update Sunshine Coast, BC: April to May!

This is your upbeat monthly real estate market update for April, brought to you by your local agents at Good People Realty Group. Let’s explore the latest statistics of the market from April to May:

New Listings:

April: 152 homes

The market continues to see a healthy influx of new listings.

Solds:

April: 29 homes

Despite the slightly lower number of sales compared to the previous month, the market remains active, with transactions still taking place at a steady pace.

Home Price Index (HPI):

April: $826,300

May: $824,500

A slight decrease of $1,800!

While there’s a minor dip in the HPI, the market remains resilient, with home values holding steady.

Percentage of Original Price:

April: 96.4%

May: 96.5%

An increase of 0.1%!

Sellers continue to receive offers close to their original listing prices, indicating a strong demand and competitive market conditions.

Days on Market (DOM):

April: 38 days

May: 25 days

A decrease of 13 days!

Homes are selling even faster than before, with properties spending an average of just 25 days on the market. This rapid turnover underscores the high demand and competitiveness of the current market.

Price per Square Foot:

April: $472

May: $513

An increase of $41!

The price per square foot has seen an uptick, suggesting a growing demand for properties and potentially higher quality listings entering the market.

Market Insight:

April has shown the continued resilience of the real estate market. Despite slight fluctuations, overall market conditions remain favourable for both buyers and sellers. The slight decrease in the HPI and the increase in the percentage of original price indicate a balanced and stable market, where sellers are still able to fetch favourable prices for their properties.

The significant decrease in the days on market and the rise in the price per square foot highlight the intense competition among buyers. it is essential for both buyers and sellers to stay informed and proactive in navigating this market.

For personalized advice and assistance with your real estate needs, don’t hesitate to reach out to your local agents at Good People Realty Group.

The Power of Curb Appeal: Elevating Your Home’s First Impression. April 28th 2024.

When it comes to selling your home, first impressions truly matter. That initial glance a potential buyer gives your property can make all the difference between a passing interest and a heartfelt desire to explore further. This is where curb appeal steps into the spotlight, wielding its influence over homebuyers and setting the stage for a successful sale.

Curb appeal refers to the attractiveness of a property as viewed from the street. It encompasses everything from the condition of the exterior to the landscaping and overall aesthetics. Here’s why it’s so important and some actionable tips for homeowners looking to enhance their home’s appeal and maximize their selling potential.

The Significance of Curb Appeal

  • First Impressions Count: The exterior of your home is the first thing potential buyers see. A well-maintained and visually appealing facade can create a positive initial impression that lingers as they explore the rest of the property.

  • Increases Buyer Interest: Homes with high curb appeal are more likely to attract potential buyers and generate interest, potentially leading to quicker sales and higher offers.

  • Sets the Tone for the Viewing: A well-groomed exterior sets a positive tone for the entire viewing experience. It signals to buyers that the home has been cared for and may be worth investing their time and money in.

  • Maximizes Property Value: Investing in curb appeal can significantly increase the perceived value of your property. By enhancing its exterior aesthetics, you can potentially fetch a higher selling price.

Tips to Boost Your Home’s Curb Appeal

  • Keep It Clean: Start by giving your home’s exterior a thorough cleaning. Pressure wash the siding, clean the windows, and tidy up any debris or clutter around the property.

  • Upgrade the Front Door: The front door is a focal point of your home’s facade. Consider giving it a fresh coat of paint in a bold, inviting colour or replacing it altogether for a modern upgrade.

  • Landscape with Care: A well-maintained lawn and thoughtfully landscaped yard can work wonders for curb appeal. Trim hedges, mow the lawn, plant colourful flowers, and add mulch to flower beds for a polished look.

  • Illuminate Your Entryway: Outdoor lighting not only enhances the visual appeal of your home but also improves safety and security. Install stylish light fixtures to illuminate the entryway and highlight architectural features.

  • Upgrade Hardware and Fixtures: Replace outdated hardware such as doorknobs, house numbers, and mailbox to give your home a fresh, updated look without breaking the bank.

  • Add Charm with Accessories: Incorporate charming accessories like potted plants, a welcoming doormat, and tasteful outdoor furniture to add personality and warmth to your home’s exterior.

  • Maintain Consistency: Ensure that the style and colour scheme of your exterior elements, such as siding, trim, and landscaping, complement each other harmoniously for a cohesive look.

In conclusion, curb appeal plays a pivotal role in attracting potential buyers and creating a positive impression of your home. By investing time and effort into enhancing your home’s exterior, you can increase its marketability, generate buyer interest, and ultimately secure a successful sale. So, roll up your sleeves, unleash your creativity, and transform your home into an irresistible masterpiece that leaves a lasting impression on all who pass by.

 
 
 
 
 

March 2024 Market Update

Hello Good People! This is your upbeat monthly real estate market update for the Sunshine Coast from February to March, brought to you by your local agents at Good People Realty Group. The real estate market continues to show robust growth and promising trends. Let’s dive right into the exciting numbers!

Home Price Index (HPI):

  • February: $803,000
  • March: $826,000 That’s a rise of $23,000!

The HPI reflects the overall value of homes in the market, detached, townhomes & condos, and this uptick demonstrates increasing confidence and demand among buyers and sellers alike.

Median Sale Price:

  • February: $818,000
  • March: $895,000 An impressive jump of $77,000!

This substantial increase in the median sale price further emphasizes the strong seller’s market we’re experiencing. Sellers are benefiting from higher returns on their investments, while buyers continue to invest in this flourishing market.

Days on Market (DOM):

  • February: 90 days
  • March: 38 days A significant drop of 52 days!

Homes are selling faster than ever, with properties spending less than 40 days on the market on average. This swift turnaround time highlights the high demand and competitive nature of the current market.

Median Price per Square Foot:

  • February: $489
  • March: $472 A decrease of $17!

While there’s a slight dip in the price per square foot, it’s important to note that the overall home prices are on the rise. This could indicate a broader mix of home sizes and types entering the market.

Inventory:

  • February: 316 homes
  • March: 397 homes An increase of 81 homes!

With more properties available, buyers have a wider selection to choose from, providing them with more opportunities to find their dream home.

New Listings:

  • February: 99 homes
  • March: 177 homes A whopping 78 more listings!

The surge in new listings demonstrates growing confidence among sellers to list their properties in this thriving market.

Sales:

  • February: 39 homes
  • March: 43 homes A steady increase of 10%!

Despite the increase in new listings, the number of sales has also seen a modest growth, indicating a balanced and active market.

The real estate market from February to March has been nothing short of dynamic and exciting! The significant rise in the HPI and median sale price underlines the strong and confident market sentiment. Homes are selling faster, and with more options available due to increased inventory and new listings, buyers are finding more opportunities to make their move.

The decrease in the price per square foot, combined with a rise in the median sale price, suggests a diverse range of properties entering the market, catering to various buyer needs and preferences.

In conclusion, the current real estate market is vibrant, competitive, and favourable for both buyers and sellers. If you’re considering making a move in the near future, now might be the perfect time to take advantage of these favourable conditions.