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For May 2017

The 'Rouse Real Estate Report'  for the Northern Sunshine Coast

 

You can always go to the generic Real Estate information sites and get the latest 'official' perspective however, if you want it from the trenches (every month) on the Northern Sunny Coast, read on....... 

As I get older everything seems to move at a faster pace (except me sometimes), I can hardly believe we are at the halfway mark for the year.  So here we go.  Generally speaking, we have seen a very slight slowdown of the market activity.  This has happened for more than one reason.  Traditionally, the middle of the year (with our severe Winter temps in the low 20's) is a bit slower, maybe 5% in activity, and also a small percentage of sellers will wait till later in the year (especially if you have a pool) to sell.  Additionally, and I am going on the record here primarily placing the blame on agents for this one. Some sellers have listed their properties at an unrealistic price, and I do not mean by a few thousand, I am seeing property listed in some areas 10% too high.  This has a direct and immediate knock on effect of causing buyers to hesitate, when this happens, properties sit on the market longer and inventory increases giving buyers more choice and consequently slowing the market sales.  I have seen this same cycle many times in my 30 year career and it is quite frustrating.  If agents were just brave enough (I am )to tell the truth (a new concept maybe), then this would not happen.  Alas, one change at a time.  That being said, don't panic, the market is still, overall, moving in a positive directing and I suspect will continue to do so.  My current summary for specific categories are as follows: 

Housing - Residential:  Some inventory increase with a slight slowdown (not all areas) 

Housing - Units: Same as housing (not all areas)

Housing - Rural: Strong, if priced right

Land - Rural/Residential:  One area that is maintaining solid strength, especially flat parcels 

Rentals:  Almost the same as my last report, a slight increase in vacancy rates, but very normal considering the time of year.  We have struggled with some individual properties, but all in all, the demand should start to increase again soon.   

And finally, if you would like me to hone in on your particular property for a more accurate analysis, simply call or email



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