At the beginning of this year we expressed cautious optimism about real estate activity on the Sunshine Coast. December and January were improved over the previous year and we noticed an increase in enquiries and showings as we moved toward Spring. After years of slower sales, we wondered, was a more positive trend developing? The latest statistics are showing the sort of improvement we had hoped for. Sales of detached homes for April rose 38% over last year, while year-to-date totals reveal an increase of 10%. And the price decreases that have characterized our market are showing signs of leveling off. However, with the supply of homes at over 700 and economic uncertainty still the reality, prices are not expected to go up. In fact, even modest over-pricing still hurts showings. It is more likely a balanced market could result if current conditions continue.
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SALES THIS WEEK: 17 [SUNSHINE COAST, ALL OFFICES]
NEW LISTINGS THIS WEEK: 38 PRICE REDUCTIONS
CURRENT LISTINGS: 1301
DET’D SALES to LIST RATIO: 9%
9% 15% 22%+
*The Sales/Listings Ratio is a guide to market conditions. A value below 15 favours buyers.
15 – 22 reflects a balanced market and over 22 gives the advantage to sellers.