2697 replies to this topic

[Mike K.]

Oh geez! You’re right!

[lanforod]

Yeah, you have it backwards. Active listings should be a fixed amount irrelevant on when it was captured. New listings is the one that is only an accurate comparison at the end of the month.

[MarkoJ]

[MarkoJ]

Full numbers out tomorrow

 

[Nparker]

There's a lot more properties available at the end of 2022 than there was a year earlier.

[Barrrister]

Still not all that many compared to prepandemic years if memory serves me. Master of the Stats chime in with the real numbers.

[Nparker]

Agreed. Active listings are still down from historical levels.

[Citified.ca]

Rollercoaster 2022 was 'still' a year of real-estate records in Victoria despite losing gains from January to Decembe

https://victoria.cit...nuary-december/

[MarkoJ]

[Nparker]

Presumably, the pace of sales will pick up as the month goes on; otherwise we might see the lowest monthly total in quite some time.

[MarkoJ]

Presumably, the pace of sales will pick up as the month goes on; otherwise we might see the lowest monthly total in quite some time.

 

Every year the first week is super slow....pace will pick up substantially; however, it will still be very slow.

[Mike K.]

Active listings down even more. I would have expected a jump to start the New Year. Maybe that'll come later.

[MarkoJ]

[Nparker]

There might be fewer than 200 sales this month.

[MarkoJ]

There might be fewer than 200 sales this month.

 

I would bet my life we hit 200 and money on 250. 

[MarkoJ]

[Barrrister]

With a week to go it looks like it might be half the sales of last year. 

[Mike K.]

Which, if you think about it, is sort of shocking. There is supposed to be hardly any market activity in times like this, the pundits say/infer. Yet, we're still seeing houses selling for $1.2 million on average.

[Victoria Watcher]

Which, if you think about it, is sort of shocking. There is supposed to be hardly any market activity in times like this, the pundits say/infer. Yet, we're still seeing houses selling for $1.2 million on average.

 

No matter what the economy or interest rates, some people must buy, some people must sell (personal economics, divorce, moves, family size up and down).  We should not forget that.  Now, most people will not sell at any price though.  So sales prices can be a bit sticky.  On the other hand a woman that gets transferred here and her employer picks up selling/buying/moving costs etc., she is going to buy (not rent).  So that's a solid supply of buyers (keeping demand up) that does not drop right off just when the RE market changes.

Edited by Victoria Watcher, 23 January 2023 - 10:04 AM.

[Mike K.]

Well, I guess we know the CoV doesn’t pick up those costs 🤓