The Sunshine Coast market activity by the end of November 2016, continued to demonstrative above average levels of sale activity and steady increases in value, compared to the same period in 2015.
Current market activity trends indicate that 2016 has been the busiest year for transactions since 2003.
With high levels of buyer interest combined with historically low levels of properties being offered for sale, the market continues to move in favour of sellers in all segments of the market place as of the end of November 2016. The number of transactions have increased by 43% in 2016, when compared to the same period last year, resulting in average sales prices increasing of: $487,000 for detached homes (a 19% increase in 11 months); $297,500 for attached (a 10% increase in 11 months); and $198,000 for land sales ( a 5% increase in 11 months).
As a result of the consistently strong levels of activity for the last 12-18 months, the number of properties being offered for sale has fallen during the third quarter of 2016. Looking forward in 2017, we expect the market to continue being a sellers market. With the increase of sales volumes and prices from this year, we expect that the 2017 market will demonstrate the characteristics of a low supply – high demand marketplace with strong support for prices at current or higher price levels.