Real estate sales in the Powell River-Sunshine Coast real estate board region for the month of July 2021 were actually down from previous year’s July sales.
“Home sales may have moderated from last year’s searing pace of activity but actually remain quite strong compared to the rest of history,” said Neil Frost, president, Powell River Sunshine Coast Real Estate Board. “New listings are trending at average levels for this time of year, which has been enough to lift overall supply from its rock-bottom earlier in the spring. Make no mistake though, we’re still seeing strong price growth and the market remains inside sellers' territory for the time being.”
The number of new listings saw a substantial decline of 21.2 per cent (14 listings) from July 2020. Active residential listings numbered 101 units on the market at the end of July, a sharp decrease of 33.1 per cent from the end of July 2020. Active listings haven’t been this low in the month of July in more than 25 years, according to statistics from the Canadian Real Estate Association (CREA).
Home sales were five per cent above the five-year average and 12 per cent above the 10-year average for the month of July, according to CREA.
In July 2021, there were 29 single-family units sold, valued at $15,533,450, compared to 41 units sold in July 2020, valued at $20,664,300.
There were five single-family mobiles and manufactured homes sold in July 2021, valued at $1,918,000, compared to five units, valued at $777,800 in July 2020.
In the single-family condos, apartments and duplexes category, there were five units, valued at $1,843,700, sold in July 2021, compared to four units, valued at $1,102,000, in July 2020.
Total residential sales were 39 units, valued at $19,295,150 in July 2021, compared to 50 units, valued at $22,544,100, in July 2020.
On the non-residential side, there were five parcels of vacant land, valued at $927,400, sold in July 2021, compared to three units, valued at $428,000, sold in July 2020.
There were no industrial, commercial or institutional sales in July 2021, and there was one, valued at $280,000, in July 2020.
Total non-residential sales in July 2021 were five units, valued at $927,400, compared to four units, valued at $708,000, in July 2020.
Grand totals show 44 sales in July 2021, valued at $20,222,550, compared to 54 units, valued at $23,252,100, in July 2020.
In July 2021, there were a total of 55 single-family residential and 18 non-residential new listings on the market. This compares to 67 residential and seven non-residential listings in July 2020. The number of active listings on the residential side at the end of July 2021 was 101, with 55 non-residential, for a total of 156 listings.
In terms of average monthly selling price, in July 2021, the value was $535,636, with houses on the market for an average of 26 days. In July 2020, the average selling price was $526,552, and houses were on the market for an average of 83 days.
In terms of buyers, with statistics available up until June 2021, 38.6 per cent of buyers were local, with 61.4 per cent listed as out of area.