2697 replies to this topic

[MarkoJ]

[Nparker]

I wonder if we'll even see 50% of last August's sales this month?

[MarkoJ]

I wonder if we'll even see 50% of last August's sales this month?

We will. My guess is 450

[Victoria Watcher]

I go 457.

[MarkoJ]

[Hotel Mike]

Wow. Way more listings. Maybe some potential sellers are freaking out that they missed the best timing and are trying to sell while it's still good for them.

[Mike K.]

It's just the unsold inventory pushing into the next month, for two/three months now. Up until spring of 2022 we were very close to a 1:1 ratio of listings to sales. Now it's about half, or so, of sales to new listings. Would that be correct, Marko?

 

You also have more people feeling comfortable enough to sell their home, especially if they're buying back in within the local market. Since 2020 there were a ton of sales among sellers who then get outpaced by the market and couldn't buy back in, period, like what happened to my mom's neighbours, or they ended up getting into a bidding war and paid far more than what they had expected to pay. Some people got taken for real rides over the last two years.

[MarkoJ]

Have you guys seen the active listings 2010-2014? It was around 5000 active listings. 

 

2,190 is only high compared to the record low of 1,120 from last year.

 

2,190 is still below 5, 10, 15, and 20 year averages. 

 

Inventory is going to look ridiculous compared to last year for next 6 months as we were setting record lows every month this time last year.

[Victoria Watcher]

Sometimes I don’t understand why EVERY house isn’t listed - always. Almost everyone has “their price”. Make it like a claimer system. Post your house up at your guaranteed “will take it price”. Leave it there for years or decades if you want. Change that price any time.

Even make it so you MUST enter your house in the market. Every single house in BC would be for sale. And the rule is, you can only list it for 3X the BC Asessment assessed value, tops.

Also, when you reach 30, a light 💡 on your palm flashes.

Edited by Victoria Watcher, 15 August 2022 - 05:04 PM.

[Nparker]

...Also, when you reach 30, a light on your palm flashes.

Thanks for the reminder. I'll have to prepare for my second time on Carousel in a few years. I wonder if I will renew again?

[Victoria Watcher]

Thanks for the reminder. I'll have to prepare for my second time on Carousel in a few years. I wonder if I will renew again?

 

Hey, they got Tinder half right.  46 years ago.

 

Edited by Victoria Watcher, 15 August 2022 - 05:29 PM.

[Mike K.]

Can’t you just send the homeowner a letter?

[MarkoJ]

[MarkoJ]

[Nparker]

We're going to be FAR below August 2021's sales this month.

[MarkoJ]

We're going to be FAR below August 2021's sales this month.

 

YOY numbers are going to look ridiculous as we were setting records last year. 

[LJ]

Well, when the prices drop by the predicted 25% sales may pick up again.

[MarkoJ]

Full market numbers later today.

 

[Citified.ca]

August delivered surprises, with average prices for single-family-homes rising, and listings falling.

 

Victoria house prices jumped 6% in August ahead of September's anticipated interest rate hike

https://victoria.cit...rest-rate-hike/

[Victoria Watcher]

https://www.timescol...-august-5769873