Powell River Sunshine Coast Real Estate Board

The number of homes sold through the MLS® System of the Powell River Sunshine Coast Real Estate Board totaled 24 units in December 2024. This was a substantial gain of 71.4% (10 sales) from December 2023.

Home sales were 4.3% above the five-year average and 3.4% above the 10-year average for the month of December.

On an annual basis, home sales totaled 302 units over the course of 2024. This was a gain of 18% from 2023.

“2024 marked a year of strong recovery in demand, supported by a resurgence in the confidence of sellers getting their listings back on market,” said Curtis Yungen, President of the Powell River Sunshine Coast Real Estate Board. “Overall supply levels are moderately high heading into 2025 and the market balance is closer to buyer’s territory than it is balanced. This provides ample opportunity for buyers to make their move as interest rates continue declining incrementally and a new set of mortgage rule changes spur more demand.”

The average price of homes sold in December 2024 was $640,492, up sharply by 32% from December 2023.

The more comprehensive annual average price was $606,743, a decrease of 4.1% from all of 2023.

The dollar value of all home sales in December 2024 was $15.4 million, more than double the levels from a year earlier, leaping 126.2% from the same month in 2023.

The number of new listings saw a substantial decline of 22.7% (five listings) from December 2023. There were 17 new residential listings in December 2024. This was the lowest number of new listings added in the month of December in five years.

New listings were 17.5% below the five-year average and 15.4% below the 10-year average for the month of December.

Active residential listings numbered 156 units on the market at the end of December, a gain of 19.1% from the end of December 2023. Active listings haven’t been this high in the month of December in a decade.

Active listings were 34.3% above the five-year average and 39.2% above the 10-year average for the month of December.

Months of inventory numbered 6.5 at the end of December 2024, down from the 9.4 months recorded at the end of December 2023 and above the long-run average of 5.5 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.