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.