After four years of declining home prices, is the Sunshine Coast real estate market finally approaching the bottom? Here’s what I’m seeing in Gibsons, Sechelt, and across the Coast as we head toward the end of 2026.
If you’ve been following the Sunshine Coast real estate market, you’ve probably noticed that things have changed considerably over the past few years.
Homes that might have attracted multiple offers in 2021 or early 2022 are now sitting on the market longer. Buyers are negotiating more aggressively, sellers are adjusting their expectations, and some properties are selling for substantially less than they would have commanded at the peak.
So, are home prices still falling on the Sunshine Coast? And perhaps more importantly, what does that mean if you’re thinking about buying or selling?
The short answer is that we’re still in a challenging market, and I haven’t seen convincing evidence that we’ve reached the bottom. But that doesn’t mean every property is losing value at the same rate, or that buyers and sellers should put their plans on hold.
Let’s take a closer look at what’s happening.
The Sunshine Coast Housing Market Has Been Declining Since 2022
The Sunshine Coast housing market reached its peak around March, April, and May of 2022. Since then, we’ve experienced what I’d describe as a bumpy ride downward.
It hasn’t been a straight line. We’ve had periods of increased activity, followed by quieter stretches. But the overall direction has been difficult to ignore.
This past summer was particularly slow. July was quiet, and August was even quieter.
We saw a modest pickup in September, with both listings and sales increasing. That’s fairly typical for the Sunshine Coast. Once summer vacations are over, buyers start thinking about settling into a new home before winter, and sellers who held off during the summer return to the market.
However, a seasonal increase in activity shouldn’t be confused with a broader market recovery.
As we move into November, December, and January, I expect activity to slow again, which is also consistent with our usual seasonal patterns.
The bigger question is whether demand will return strongly enough to stabilize prices. At this point, I’m not seeing the economic conditions that would suggest a significant turnaround is imminent.
How Much Have Sunshine Coast Home Prices Fallen?
One of the challenges with discussing real estate prices is that averages don’t always tell the whole story.
The Sunshine Coast has a relatively small housing market, and our properties vary enormously. A waterfront home in Roberts Creek, an older house in Gibsons, and a newer townhouse in Sechelt can behave very differently.
Still, individual sales can illustrate just how much the market has changed.
A Home That Sold for $290,000 Less Than Its 2022 Purchase Price
I recently came across a transaction that jumped out at me.
A buyer purchased a home during the peak of the market in March 2022, paying approximately $175,000 over the asking price. The purchase price was more than $1 million.
That same property sold in September 2026 for approximately $290,000 less than the owner had paid four years earlier.
That’s a substantial difference, particularly when you consider the transaction costs associated with buying and selling a home.
Of course, there’s more to the story.
The owners had also sold their previous property during the exceptionally strong 2022 market, benefiting from high prices at that time. So, while their most recent sale represented a loss relative to what they paid, their overall real estate experience was more complicated.
This is an important distinction.
Someone who purchased a home prior to 2020 may still have considerable equity, even if their property’s value has declined from its peak. Someone who bought in early 2022 and needs to sell today could be in a much more difficult position.
The price you paid, when you purchased, and why you’re selling all matter when evaluating your situation.
Townhouse Prices Have Also Come Down
Detached houses aren’t the only properties experiencing downward pressure.
I’ve been looking at townhouses that could reasonably have attracted buyers at around $925,000 during the peak market. Today, comparable properties are struggling to sell at $675,000.
That’s a dramatic shift in buyer expectations.
It’s also worth remembering that we have fewer townhouse and condominium transactions on the Sunshine Coast than detached home sales. With smaller sample sizes, individual transactions can have an outsized influence on reported statistics.
That’s why I prefer to look beyond headline price changes and examine comparable properties, recent sales, condition, location, and buyer demand.
Are Affordable Homes in Gibsons Making a Comeback?
One of the more interesting developments in the local market is the renewed attention being paid to older, more affordable houses.
Recently, a detached home in Gibsons sold for approximately $600,000. It was a fixer-upper, but it’s been a long time since we’ve regularly seen detached houses on their own lots selling at that price.
For younger families trying to enter the market, these properties can represent an opportunity.
I’m seeing buyers looking in roughly the $500,000 to $800,000 range who are willing to take on renovations to make homeownership possible.
However, there’s an important distinction between a house that needs updating and one that requires extensive immediate repairs.
Buyers Want Fixer-Uppers They Can Live In
Many buyers are comfortable purchasing a home with dated flooring, older cabinets, or cosmetic issues they can address over time.
What they’re less enthusiastic about is purchasing a property that requires major work before they can comfortably move in.
Families often need a home they can occupy immediately while gradually improving it. That means a structurally sound, livable house with renovation potential can still attract interest, even in a slower market.
Properties requiring substantial immediate repairs are a different story. Buyers are increasingly factoring in renovation costs, uncertainty, and the inconvenience of major construction.
For sellers of these properties, pricing needs to reflect those realities.
Will Lower Interest Rates Bring Sunshine Coast Buyers Back?
One of the most common predictions I hear is that the housing market will take off again once mortgage rates decline.
I’m not convinced it’s that simple.
While lower borrowing costs certainly help affordability, I don’t believe a quarter-point or half-point interest rate reduction is enough, on its own, to bring large numbers of buyers flooding back into the Sunshine Coast, BC market.
Our affordability problem is much bigger than that.
Housing prices have become disconnected from local incomes, particularly for younger buyers trying to purchase their first home.
A generation ago, many households could purchase homes for a relatively modest multiple of their annual income. Today, in expensive markets throughout southern British Columbia, that relationship looks very different.
In my view, it would take a much more substantial reduction in borrowing costs, potentially around two percentage points, to meaningfully change affordability for a large group of buyers.
Even then, interest rates are only one part of the equation.
Employment opportunities, household income, consumer confidence, and the availability of suitable homes all influence whether people are willing and able to purchase property.
We’re also seeing buyers who rely on financial assistance from parents to enter the market. That tells us something about how difficult affordability has become.
Lower interest rates may help, but I wouldn’t base a buying or selling decision on the assumption that one or two rate cuts will suddenly send Sunshine Coast home prices higher.
Why Vancouver Real Estate Prices Matter to the Sunshine Coast
One of the unique characteristics of the Sunshine Coast housing market is its relationship with Vancouver.
A significant portion of our buyers come from Vancouver and area. Some are retirees, others are families looking for a different lifestyle, and some are people who have discovered they can work remotely or arrange their careers around living on the Coast.
Historically, the price difference between Vancouver and the Sunshine Coast has been an important part of that appeal.
A homeowner selling a property in Vancouver could often purchase something attractive on the Sunshine Coast for considerably less money.
But when Vancouver prices decline, that calculation changes.
If someone is receiving less for their Vancouver property while Sunshine Coast prices remain relatively close, the financial incentive to relocate becomes smaller. That’s one reason I’m watching the Vancouver housing market closely.
I believe we’ll need to see stronger conditions in Vancouver, and a more attractive price difference between the two markets, before we experience a significant increase in buyers relocating to the Sunshine Coast.
It doesn’t mean people will stop moving here. The lifestyle remains a powerful attraction. But the economics of relocating need to make sense.
What Would Cause Sunshine Coast Home Prices to Recover?
Ultimately, a sustained housing market recovery requires stronger buyer demand.
And when I look around the Sunshine Coast, I don’t see an obvious catalyst that would produce a major increase in demand in the immediate future.
We don’t have a large new industry preparing to employ thousands of people. Employment opportunities can be limited, particularly for people moving here without an established job or the ability to work remotely.
Our market also depends partly on people relocating from elsewhere, which means broader economic conditions affect us.
That said, one group continues to show interest in the Sunshine Coast: retirees.
Retirees Want Homes That Are Difficult to Find
I regularly encounter people who would love to retire on the Sunshine Coast, particularly those coming from Vancouver and other parts of the Lower Mainland.
But they often have a very specific wish list.
They want a rancher or another home offering single-level living. They want an ocean view. They want something modern, comfortable, and move-in ready. Ideally, they don’t want to spend their retirement managing a major renovation.
The challenge is that we don’t have a large supply of homes that meet all those requirements.
We have some beautiful properties, but the combination of ocean views, level living, desirable location, and move-in-ready condition can be difficult to find.
I suspect we’d see more retirees relocating here if we had a greater selection of suitable properties.
This is a good example of why it’s misleading to describe the entire Sunshine Coast as one housing market. Some property types face considerable competition from other listings, while others remain relatively scarce.
Selling a Home on the Sunshine Coast? Pricing Is Everything
If you’re considering selling your home in Gibsons, Sechelt, Roberts Creek, or elsewhere on the Sunshine Coast, my biggest piece of advice is straightforward:
Price your home for the market we have today, not the market we had in 2022.
One of the biggest mistakes sellers can make in a declining market is starting with an ambitious asking price and gradually reducing it over several months.
By the time the property reaches a competitive price, buyers may have moved on, and the listing has lost much of its initial momentum.
I prefer to look carefully at recent comparable sales and establish an asking price that reflects current conditions.
In some cases, that means pricing slightly ahead of the market rather than following it downward.
The First Two Weeks Matter
When a new listing comes onto the market, there’s already a group of buyers watching for properties that meet their needs.
These buyers have been following listings, comparing prices, and waiting for something suitable.
If your home is attractive to them and priced appropriately, they’ll generally want to take a look.
If you’re receiving little interest, few inquiries, and no meaningful showing activity, that’s valuable information.
In the current market, I wouldn’t recommend waiting months before responding.
If a property receives very little attention during its first 10 to 14 days, it’s worth reassessing the asking price while the listing is still relatively fresh.
That doesn’t necessarily mean every property should sell within two weeks. Some homes naturally have a smaller pool of potential buyers.
But sellers need to be responsive to what the market is telling them.
The goal isn’t simply to list your home. It’s to position it so the right buyers recognize its value.
Buying a Home on the Sunshine Coast? Don’t Be Afraid to Negotiate
For buyers, the current market offers opportunities that were difficult to imagine a few years ago.
There’s generally more room to negotiate, more time to evaluate properties, and less pressure to make rushed decisions.
But I also caution buyers against waiting indefinitely for the perfect home at the perfect price.
The Sunshine Coast is not like a large suburban development where hundreds of nearly identical houses are available.
Our housing stock is incredibly varied.
One property might have a beautiful ocean view but a steep driveway. Another might offer a level lot and a great location but need updating. A third could have a layout that works perfectly for a multigenerational family.
When you find a home that meets 80% or 90% of your requirements, it’s worth taking seriously.
An Aggressive Offer Can Start a Conversation
If you find a property you like but believe it’s overpriced, consider making an offer supported by recent comparable sales.
Sellers in today’s market generally want to hear from serious buyers.
That doesn’t mean every seller will accept a substantial discount, and it certainly doesn’t mean every low offer is justified.
But a well-researched offer can create an opportunity for negotiation.
I’ve seen buyers hesitate because they assume a seller won’t consider their price. Sometimes, simply making the offer is what gets the conversation started.
The important thing is to understand the property’s value, its competition, and your own financial comfort level.
And remember that waiting six months for a lower price carries its own risk: another home with the same combination of features may not come onto the market.
My Outlook for the Sunshine Coast Real Estate Market
Looking ahead, I expect the Sunshine Coast housing market to remain challenging for sellers in the near term.
While some industry forecasts suggest prices could stabilize toward the end of 2026 or sometime in 2027, I’m more cautious.
I don’t currently see a strong reason for buyer demand to increase dramatically.
My expectation is that we could experience further modest price declines before the market eventually levels off. Even then, I think a period of relatively flat prices is more likely than a sudden return to the rapid appreciation we experienced earlier in the decade.
Of course, forecasts are opinions, not guarantees. Economic conditions, interest rates, employment, and changes in buyer confidence can all alter the outlook.
What I do know is that buyers and sellers still need to make decisions regardless of where we are in the market cycle. The key is making those decisions with a realistic understanding of current conditions.
Is Now a Good Time to Buy or Sell on the Sunshine Coast?
There’s no universal answer.
For buyers, this market offers greater negotiating power and opportunities to purchase properties at prices considerably below their 2022 peaks.
For sellers, success requires realistic expectations, careful pricing, and a strategy tailored to the property.
If you’re planning to sell one home and buy another, it’s also important to consider both sides of the transaction. A lower selling price may be offset, at least partly, by the ability to purchase your next property at a lower price.
And if you’re relocating from Vancouver, Alberta, or elsewhere in Canada, understanding the differences between local Sunshine Coast communities can be just as important as understanding the broader market.
The best approach is to focus on your own circumstances rather than trying to predict the exact bottom of the housing market.
Let’s Talk About Your Real Estate Plans
I’m Val Labrecque, a REALTOR® with RE/MAX City Realty in Gibsons, BC.
I work with buyers and sellers throughout the Sunshine Coast, including Gibsons, Sechelt, Roberts Creek, and surrounding communities.
Whether you’re wondering what your home might sell for in today’s market, considering a move to the Coast, or simply exploring your options, I’m happy to share what I’m seeing locally.
There’s no pressure and no obligation. Just a conversation about your plans and the information you need to make a confident decision.
Call or text Val: 604-399-8935
Email Val: info@vallabrecque.ca
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