Market Re-Cap by Region:
Gibsons
HPI: $830,800 (+5.6%) | Listings: 104 (+26.8%) Sales: 12 (+20%) Months of Inventory: 8.7
While the market showed some buoyancy compared to December of 2023, the market softened slightly from November, which had an HPI of $864,700 and total inventory of 127. With only 12 sales noted, this shows several homes came off the market that failed to sell.
Roberts Creek
HPI: $1,012,000 (+7.5%) | Listings: 13 (-45.8%) Sales: 6| Months of Inventory: 2
After months of a stagnant market, Roberts Creek showed signs of recovery with 6 sales recorded in December. This brings Roberts Creek back into a balanced market and possible price increases in the new year.
Sechelt
HPI: $793,500 (+5.8%) | Listings: 120 (+1.7%) | Sales: 16 (+33.3%) | Months of Inventory: 7.5
With 33% more sales this month than December 2023, it looks like this area may be back to a more balanced market in the spring. One note is that in November there were 161 listings and by December, 120. With only 16 sales, there were many homes that came off to wait for better conditions.
Halfmoon Bay
HPI: $946,200 (+6.8%) | Listings: 47 (+51.6.%) | Sales: 2 (-33.3%) | Months of Inventory: 23.5
Halfmoon Bay's active listings continued to decrease from November to December, going from 58 to 47. However with only 2 sales recorded, the majority of those listings were homes coming off the market to wait for better conditions. With Halfmoon Bay firmly in buyer market territory, hopefully the spring market will bring better seller conditions.
Pender Harbour
HPI: $819,700 (+8.2%) | Listings: 47 (-4.1%) | Sales: 3 (+200%) | Months of Inventory: 15.6
Pender Harbour had 3 sales in December, which is up from the year previous. However, with 47 active listings, this area has a high inventory for the number of active buyers. Active listings declined from 65 in November, showing that sellers here are prepared to take their homes off the market over the holiday season to wait for the more active spring market.
Now that the holiday season is behind us and the spring market is just around the corner, it’s the perfect time to start preparing your home for sale. With many homeowners having taken their properties off the market over the holidays, the upcoming months are expected to bring increased activity and opportunity. Accurate pricing is more important than ever in this evolving market. Contact us today for the latest local market insights and personalized advice to ensure your home is positioned for success this spring. Let’s get you ready to make the most of this busy season!