Mike Carson

Your local Sunshine Coast Realtor

Cell 604-740-1841

Office (24 hour pager) (888) 385-3295

Email: mikecarson604@gmail.com


The U.S. Federal Reserve raised its federal fund rate from zero to .25 percent this morning, the firs rate hike in almost a decade, and indicated that further increases will be gradual.  The Fed said it raised rates “given the economic outlook, and recognizing the time it takes for policy actions to affect future economic outcomes.”  In a related move, the Fed’s Board of Governors unanimously voted to raise the discount rate, which covers direct loans to banks, by a quarter point to 1 percent, which could signal a slight rise in U.S. mortgage rates.  The 25 basis point uptick is seen as a vote of confidence for the U.S. economy and could also boost real estate prices in that country.  Time will tell how this will trickle down to our own local economy, but we all know that if we want to have a hint as to what the future holds, to keep an eye on what is happening south of the border.


The Real Estate Board of Greater Vancouver (REBGV) reported in their December 2nd  news release that  residential property sales of detached homes  on the Sunshine Coast increased 30.9 percent in the period September to November compared to the same period last year.  The number of listings is up only marginally from 56 in November 2014 to 62 in November 2015. 

 “November is typically one of the quietest months of the year in our housing market, but not this year,” Darcy McLeod, REBGV president said, speaking of the entire Metro Vancouver market, which includes the Sunshine Coast. “The ratio of sales to homes available for sale reached 44 per cent in November, which is the highest it’s been in our market in nine years.”

The sales-to-active-listings ratio for the Sunshine Coast in November was 119 per cent, up from 98 percent in October 2015.  Generally, analysts say that home prices often experience upward pressure when the ratio reaches 20 per cent or higher. 

So what does this mean for our local market?   Sales are up, listings are down.  Although I don’t have a crystal ball, it sure seems like the market is heating up.  It is a good time to list your property as there are few properties on the market right now and yours will stand out.  It is also a good time to buy before prices begin to rise, and while interest rates are still low. 

To read the full REBGV report, click here: 



The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.  These are the rates the banks and credit unionds pay to borrow from the Bank of Canada, which in turn influences the rates they charge the consumer.  This is good news for those seeking a new or refinanced mortgage, although banks could still raise rates for other reasons.  Time will tell.   Read the full report on the Bank of Canada web site:  http://www.bankofcanada.ca/2015/12/fad-press-release-2015-12-02/

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.