Jump to content

      



























Photo

Victoria Real-Estate Board statistics


  • Please log in to reply
2688 replies to this topic

#2461 Mike K.

Mike K.
  • Administrator
  • 83,188 posts

Posted 30 September 2022 - 09:43 AM

Because at the most basic level the seller is the only person intimately familiar with a home and property. The seller has to guide the fair value discussion, and the buyer has to assess it based on the seller’s interpretation.

If your assessment as a seller is way off, and you don’t recognize it after buyers walk away, you are not being reasonable enough to change your expectations.

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#2462 MarkoJ

MarkoJ
  • Member
  • 5,771 posts
  • LocationVictoria

Posted 03 October 2022 - 09:11 AM

More stats to follow later today but we have the 2nd worst sales numbers in the last 32 years. Only 2010 was lower at 395.

 

download.png


  • Victoria Watcher likes this

Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty

www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#2463 Nparker

Nparker
  • Member
  • 40,410 posts

Posted 03 October 2022 - 09:48 AM

😲

#2464 Citified.ca

Citified.ca
  • Administrator
  • 2,285 posts
  • LocationVictoria, BC

Posted 03 October 2022 - 04:45 PM

Market data suggests there is a price bottom approaching, if it isn't already here. All eyes will be on the Bank of Canada and its interest rate move come late October.

 

Factoring out commercial property sales, September wasn't quite as bad as it may appear, with residential-only sales higher than two periods over the last decade and virtual tie with a third.

 

September real-estate data shows Victoria's housing market may be nearing price floor

https://victoria.cit...ng-price-floor/


  • todd likes this
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.

#2465 Victoria Watcher

Victoria Watcher

    Old White Man On A Canadian Island

  • Member
  • 52,348 posts

Posted 04 October 2022 - 05:25 AM

A cool fall for Greater Victoria real estate, with sliding prices and fewer sales

 

A total of 410 properties sold through the Victoria Real Estate Board’s multiple listing service in September — down 14 per cent from August and 46 per cent from September 2021
 
 

Edited by Victoria Watcher, 04 October 2022 - 05:25 AM.


#2466 Mike K.

Mike K.
  • Administrator
  • 83,188 posts

Posted 04 October 2022 - 06:24 AM

Isn't it amazing how you can tell a completely different story from the same data?

Condos have flatlined for three months now, they’re not falling. SFDs are there too, although could slip a little more, but the average in September was higher than in August, and it was also higher for condos.

Townhomes had very few sales but it wasn’t earth shattering.

I think the biggest news from the month, which everyone missed, is the lack of commercial sales. Developers have put a freeze on buying because lending is so onerous right now. But it’s not that there’s a lack of demand or capital ready to move. So that 410 sales figure was nearly all residential sales. If commercial buyers had access to capital like they did six months ago we’d have seen another 25 or more deals. But a lot of them can’t buy at today’s rates as lenders restrict access to dollars.

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#2467 Szeven

Szeven
  • Member
  • 1,199 posts

Posted 04 October 2022 - 08:50 AM

My anecdata of the week is a friend shopping for a townhouse. They said they have looked at a few listings, and the outcome is either they sell for full ask or get stale and are rented instead of cutting the price. 



#2468 Barrrister

Barrrister
  • Member
  • 2,903 posts

Posted 04 October 2022 - 08:54 AM

It is just a matter of an adjustment period. People still have to sell and people will still want to buy. 



#2469 MarkoJ

MarkoJ
  • Member
  • 5,771 posts
  • LocationVictoria

Posted 04 October 2022 - 09:05 AM

My anecdata of the week is a friend shopping for a townhouse. They said they have looked at a few listings, and the outcome is either they sell for full ask or get stale and are rented instead of cutting the price. 

 

Strong rental market is definitively keeping inventory in check as some owners to opt to rent out versus dropping the price. That being said townhomes prices are down substantially since the peak in March. For example, in Langford a townhome in a complex sold in March for $711,000. Same floorplan sold in early September for $650,000 and now a corner unit (the first two were inner units) is not listed for $649,900 and not moving so there is downward price pressure for sure both from an average median perspective and real life examples.


  • Szeven likes this

Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty

www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#2470 MarkoJ

MarkoJ
  • Member
  • 5,771 posts
  • LocationVictoria

Posted 11 October 2022 - 11:57 AM

download.png


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty

www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#2471 Mike K.

Mike K.
  • Administrator
  • 83,188 posts

Posted 13 October 2022 - 07:36 AM

Price just dropped 3.5%.

It’s going to grind slowly down, and likely to get pulled in 90-days unless they drop another 15%. I can’t imagine that’s good for morale, though.

Dropped another $100,000, and re-listed.

Still $150,000 too high, IMO.

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#2472 MarkoJ

MarkoJ
  • Member
  • 5,771 posts
  • LocationVictoria

Posted 17 October 2022 - 07:24 AM

download.png


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty

www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#2473 MarkoJ

MarkoJ
  • Member
  • 5,771 posts
  • LocationVictoria

Posted 24 October 2022 - 07:27 AM

download.png


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty

www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#2474 Mike K.

Mike K.
  • Administrator
  • 83,188 posts

Posted 24 October 2022 - 07:36 AM

Dropped another $100,000, and re-listed.

Still $150,000 too high, IMO.


Dropped another $100,000, and re-listed.

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#2475 MarkoJ

MarkoJ
  • Member
  • 5,771 posts
  • LocationVictoria

Posted 31 October 2022 - 09:15 AM

download.png


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty

www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#2476 max.bravo

max.bravo
  • Member
  • 1,832 posts

Posted 31 October 2022 - 09:17 AM

How long until buyers start to feel comfortable again? Do rate hikes need to level off before that process can happen, or can we see a resumption in sales while rates continue to inch up?

#2477 Mike K.

Mike K.
  • Administrator
  • 83,188 posts

Posted 31 October 2022 - 09:20 AM

Looks like we'll end up with 60-70 more sales than in September.


Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#2478 Barrrister

Barrrister
  • Member
  • 2,903 posts

Posted 31 October 2022 - 12:56 PM

I am actually surprised at the number of sales that are occurring. 



#2479 Mike K.

Mike K.
  • Administrator
  • 83,188 posts

Posted 31 October 2022 - 07:55 PM

You don’t say, Mr. Ultra Negative Always Buzzkill.

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#2480 Barrrister

Barrrister
  • Member
  • 2,903 posts

Posted 31 October 2022 - 09:27 PM

Gee Mike, thanks for the positive note. But I am surprised in a good way to be clear. Victoria is doing better than either Toronto o Vancouver. Thankfully, we may be able to ride this out better than a lot of places.



You're not quite at the end of this discussion topic!

Use the page links at the lower-left to go to the next page to read additional posts.
 



2 user(s) are reading this topic

0 members, 2 guests, 0 anonymous users