Powell River real estate market still active during month of June

30 MLS sales were valued at just more than $10 million

More than $9 million in residential multiple listing (MLS) real estate sales were recorded in the Powell River area during the month of June 2019.

There were 20 single-family homes sold during the month, valued at $7,769,900. There was one mobile home sold, valued at $125,000, and six single-family-other, such as condos and duplexes, valued at $1,577,500. Total residential sales for the month were $9,472,400.

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Three vacant lands sold during June, totalling $612,000. Total MLS sales for the month were $10,084,400, for a total of 30 units sold.

In June, there were 38 new single-family homes listed, two mobiles and 28 condos, apartments and duplexes, for a total of 68 new listings.

In terms of average selling price, the 2019 figure is $388,495, compared to the 2018 average price of $362,557, which is a 7.2 per cent change.

Powell River-Sunshine Coast Real Estate Board president Neil Frost said in comparing year over year, in 2019 there were a total of 27 residential units sold, compared to 32 in 2018.

“It’s a slightly lower volume but there are higher prices,” said Frost. “There are still competing offers and if there were more homes for sale, more listings, we might actually see more sales.

“We are not seeing a decline in the buyers but the inventory is still a consideration and is keeping prices up. It’s still very active. There are fewer sales but I do not see that as an indicator that it is declining. It’s a combination of supply and selection.”

Frost said many of the people in the market are looking for a $350,000 house, including the people who are coming up from the Lower Mainland. He said 50 per cent of the market is still out of town buyers.

“It’s still busy,” he added.

 
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