Have you have ever wondered how we determine whether it is a Buyers’, Sellers’ or balanced market?
In April, the Sunshine Coast real estate market had a sales to active ratio of 14.2%, making it a balanced market. A Seller’s Market has a ratio of 20% or higher. A Buyer’s Market has a ratio of 12% or lower. A Balanced Market will fall in between. It’s important to note we saw a decrease of 11.3% last month alone.
Sales-to-active listings ratio measures supply and demand by looking at the total supply of homes for sale compared to sales during the month. Buyers’, sellers’ and balanced markets are terms that describe whether the market is putting upward, downward, or no pressure on home prices.
I’m finding the market is busy yet changes almost weekly. It can go from a flurry of offers, showings and CMA’s one week to a quieter more relaxed paced the next. There was a buzz in the air that the Bank of Canada would start to cut rates this Summer but I wouldn’t quite get hopes up yet. Should rates drop, I would predict this to really heat things up.
The Sunshine Coast real estate market has its intricacies and requires an experienced, local agent to help navigate you on the journey. I’d be happy to chat if you’re looking to buy or sell on the Coast.