Powell River Sunshine Coast Real Estate Board MLS® home sales end 2021 on a strong note
The number of homes sold through the MLS® System of the Powell River Sunshine Coast Real Estate Board totaled 31 units in December 2021. This decreased by 8.8% (three sales) from December 2020.
Home sales were 14.8% above the five-year average and 37.2% above the 10-year average for the month of December.
On an annual basis, home sales totaled 431 units over the course of 2021. This was a modest gain of 3.6% (15 sales) from the same period in 2020.
"Annual home sales came in on par with levels from 2016, marking the highest figure in five years. The momentum going into 2022 is also promising, with activity currently trending above average for typical end-of-year levels," said Neil Frost, President of the Powell River Sunshine Coast Real Estate Board. "Our market is considerably better positioned in terms of supply compared to other regions in the province that continue to experience a severe drought in listings. Inventories are relatively low compared to history but not so low that there is barely anything available on the market, which is good news for potential buyers in the local market."
The average price of homes sold in December 2021 was a record $572,023, up sharply by 48.4% from December 2020.
The more comprehensive annual average price was $519,928, an increase of 23.6% from all of 2020.
The dollar value of all home sales in December 2021 was $17.7 million, a jump of 35.3% from the same month in 2020. This was also a new record for the month of December.
The number of new listings were up by 25% (five listings) from December 2020. There were 25 new residential listings in December 2021. This was the largest number of new listings added in the month of December in more than five years.
New listings were 25% above the five-year average and 30.2% above the 10-year average for the month of December.
Active residential listings numbered 83 units on the market at the end of December, a gain of 9.2% (seven listings) from the end of December 2020.
Active listings were 11.5% below the five-year average and 39.1% below the 10-year average for the month of December.
Months of inventory numbered 2.7 at the end of December 2021, up from the 2.2 months recorded at the end of December 2020 and below the long-run average of 7.6 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.
Board & Association Information
The Powell River Sunshine Coast Real Estate Board (PRSCREB) is a regional professional association proudly representing 42 REALTORS® in southwest BC. The board serves Powell River Saltery Bay to Lund, Texada Island, Savary Island and the North Coast up to Desolation Sound. It is important to call a REALTOR® to get data specific to the area you are interested in.
Powell River Sunshine Coast Real Estate Board
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