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 25 units in November 2024. This was a substantial gain of 66.7% (10 sales) from November 2023.

Home sales were in line with the five-year average and 1.6% below the 10-year average for the month of November.

On a year-to-date basis, home sales totaled 280 units over the first 11 months of the year. This was a gain of 15.7% from the same period in 2023.

“Buyers and sellers alike were out in force in November, with demand jumping from October and new listings rocketing up to near-record levels for the month,” said Curtis Yungen, President of the Powell River Sunshine Coast Real Estate Board. “With overall inventories actually declining on a seasonal basis, it’s likely that some of the frenzy in new supply was due to more active re-pricing strategies from sellers who were hoping to capitalize on the recent surge in buyers who are now returning to the market. In any case this bodes well for a more active market heading into the quieter winter season as we anticipate things to pick up where they left off once busier activity resumes in the spring.”

The average price of homes sold in November 2024 was $653,148, up by 26.2% from November 2023.

The more comprehensive year-to-date average price was $602,873, a decrease of 6% from the first 11 months of 2023.

The dollar value of all home sales in November 2024 was $16.3 million, more than double the levels from a year earlier, leaping 110.4% from the same month in 2023.

The number of new listings saw a substantial gain of 51.5% from November 2023. There were 50 new residential listings in November 2024. This was the largest number of new listings added in the month of November in more than 15 years.

New listings were 46.2% above the five-year average and 60.8% above the 10-year average for the month of November.

Active residential listings numbered 183 units on the market at the end of November, a gain of 8.9% (15 listings) from the end of November 2023. Active listings haven’t been this high in the month of November in a decade.

Active listings were 26.6% above the five-year average and 33.6% above the 10-year average for the month of November.

Months of inventory numbered 7.3 at the end of November 2024, down from the 11.2 months recorded at the end of November 2023 and above the long-run average of 6.7 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.