The Real Estate Board of Greater Vancouver says May saw a return to “near record levels” of sales activity, but on the Sunshine Coast the numbers remain well below the highs of 2016.
There were 133 detached homes sold on the Sunshine Coast in May of last year, and 82 this May. The Real Estate Board also said there’s been a 47 per cent drop in sales for the second quarter of this year (March to May) compared to the same period in 2016.
Prices, however, aren’t going down. The Real Estate Board puts the median price of detached homes on the Sunshine Coast at $580,000 as of the end of May, up from $491,750 at this time last year.
The number of properties listed for sale is also down from 2016. So far this year, 451 detached homes have gone on the market, a drop of 127 from 2016. The number of listings for attached homes and apartments has remained stable.
In a market update copied to Coast Reporter, local realtor Kenan MacKenzie notes that sales of vacant lots have also slowed since 2016, but that million dollar-plus listings are on the rise. According to MacKenzie’s statistics, 41 of the properties sold this year on the Sunshine Coast went for more than $1 million.
So, with prices still high and available listings lower than last year, the Sunshine Coast remains a difficult market for first-time buyers to get into, and with the real estate market remaining warm, if not as hot as 2016, local government efforts to foster affordable housing continue.
At a committee meeting June 8, Sunshine Coast Regional District (SCRD) directors were due to consider how to move ahead with changes to official community plans in rural areas to encourage affordable housing.
A staff report summarizing feedback from the advisory planning commissions, the shíshálh and Squamish nations, municipalities and others found several common themes and general support for the overall direction of the SCRD.
Some of those common themes included balancing and integrating densification with existing neighbourhoods, rural character and the natural environment. Infill on existing lots should be seen as a viable option, the report said, but utility servicing capacity, including sewage treatment and water supply, is a limiting factor.
The feedback also showed support for smaller-lot subdivisions, alternative construction and efficient building design, and ideas like clustered residential development in village core areas. There was also a feeling that local government support for affordable housing should include making the development approval process simpler, quicker and less expensive.
The Town of Gibsons and the Sunshine Coast Affordable Housing Society, meanwhile, had an open house scheduled for June 8 at the Gibsons Public Market (5 p.m. to 8 p.m.) to discuss the work they’ve done so far on a joint project and issues around defining affordable housing and assessing the needs of the Town.
Gibsons has already started allowing so-called carriage homes in some neighbourhoods and a handful of property owners are adding them. There’s more information online at www.gibsons.ca/affordable-housing-project.
