2697 replies to this topic

[VicHockeyFan]

Of course not. They make their money through the sales and purchases of property. Why would they want people to think isn't always a good time to buy/sell?

They wouldn't. I can't blame them. But I do wonder why reporters always ask them.

They could at least say "in every poor market there are still some good buying opportunities, and good selling ones" or something.

[MarkoJ]

Some does, once you read it twice. Crabb says that if interest rates rise 1%, that's equal to a $10,000 savings. So don't wait (for the price to keep dropping), buy the house now, before rates go up.

The last part doesn't make sense. You don't stimulate the economy by raising interest rates.

I also note that Realtors NEVER say it a poor time to buy/sell. When the market is poor, they tell sellers to be "sharp" with their pricing, ie. drop it as far as you can stand. When the market is hot, they still like sellers to have low prices, then they suggest to their buyers they better go in full price or more if they don't want to lose out. It's such a bunch of BS.

The problem with real estate is entry to practice is one online course. You get a lot of people jumping into it to make a quick dollar with little understanding of basic economics and markets. As a buyer/seller you really need to do a lot of research on your own before you make your decision. There are blogs out there like HHV and Garth Turner which typically offer differing opinions to those of REALTORS®.

[MarkoJ]

Tuesday, October 9, 2012 8:00am

MTD October
2012 2011
Net Unconditional Sales: 106 483
New Listings: 276 1,086
Active Listings: 4,565 4,687

Please Note
Left Column: stats so far this month
Right Column: stats for the entire month from last year

[Mike K.]

Looks like a fairly strong start to the month.

[MarkoJ]

Monday, October 15, 2012 8:00am

MTD October
2012 2011
Net Unconditional Sales: 166 483
New Listings: 483 1,086
Active Listings: 4,616 4,687

Please Note
Left Column: stats so far this month
Right Column: stats for the entire month from last year

[VicHockeyFan]

Marko, where can we find these stats with housing type broken out?

Specifically, I'd like to know how many condominium/apartment active listings and sales to date there are in Victoria.

[MarkoJ]

Marko, where can we find these stats with housing type broken out?

Specifically, I'd like to know how many condominium/apartment active listings and sales to date there are in Victoria.

You would have to contact a REALTOR® for that kind of information.

There are 39 condo sales month to date, and 1097 condo listings. The sales and active listings do not include pre-sales that are not listed on MLS®.

[MarkoJ]

Monday, October 22, 2012 8:00am

MTD October
2012 2011
Net Unconditional Sales: 242 483
New Listings: 714 1,086
Active Listings: 4,622 4,687

Please Note
Left Column: stats so far this month
Right Column: stats for the entire month from last year

SFH MTD average = 622k
SFH MTD median = 516.5k

Condos down significantly this month so far:

Condo MTD average = 279k
Condo MTD median = 256.25k

[MarkoJ]

Monday, October 29, 2012 8:00am

MTD October
2012 2011
Net Unconditional Sales: 329 483
New Listings: 932 1,086
Active Listings: 4,640 4,687

Please Note
Left Column: stats so far this month
Right Column: stats for the entire month from last year

[VicHockeyFan]

Hmmm, listings are the same as last year, but sales are down almost 30% on the month, from same period last year.

[pherthyl]

Hmmm, listings are the same as last year, but sales are down almost 30% on the month, from same period last year.

Well we still have some days left. I would guess about 380-400 sales by month's end.

The end of the month always has some odd jumps in both sales and new listings. Especially the new listings jump by a couple hundred at the end of the month for some reason. Almost every month this year has been very similar to last year for new listings up until the last days of that month, but then suddenly jumped up a couple hundred in the official monthly stats. Must be some difference in how they're counted.

[VicHockeyFan]

Well we still have some days left. I would guess about 380-400 sales by month's end.

The end of the month always has some odd jumps in both sales and new listings. Especially the new listings jump by a couple hundred at the end of the month for some reason. Almost every month this year has been very similar to last year for new listings up until the last days of that month, but then suddenly jumped up a couple hundred in the official monthly stats. Must be some difference in how they're counted.

Right, that does make sense. At least the sales part, closings set for month's-end. Is that how the sales are measured, closed deals?

[MarkoJ]

Right, that does make sense. At least the sales part, closings set for month's-end. Is that how the sales are measured, closed deals?

Correct, once an offer goes unconditional it is reported as a sale.

[MarkoJ]

Hmmm, listings are the same as last year, but sales are down almost 30% on the month, from same period last year.

This will be the first year since 2000 that we will finish the year under 6000 sales!

[VicHockeyFan]

Correct, once an offer goes unconditional it is reported as a sale.

OK, well then that's not what I meant. So the possession date isn't indicative of a sale, so end-of-month sales-figure jumps should not be so common.

[MarkoJ]

OK, well then that's not what I meant. So the possession date isn't indicative of a sale, so end-of-month sales-figure jumps should not be so common.

Possession date has nothing to do with it; however, end-of-month does play into it. If someone is making an offer they typically want condition removal prior to end of month if it can go either way. A number of reasons for this. For example, if you are renting you rather have your offer go unconditional October 30th than November 1st because on October 30th you gave give your one month notice in time.

[pherthyl]

Possession date has nothing to do with it; however, end-of-month does play into it. If someone is making an offer they typically want condition removal prior to end of month if it can go either way. A number of reasons for this. For example, if you are renting you rather have your offer go unconditional October 30th than November 1st because on October 30th you gave give your one month notice in time.

Any update on why active listings also jump from your numbers to what the VREB reports?

[MarkoJ]

Thursday November 1, 2012 8:00am:

October October
2012 2011
Net Unconditional Sales: 373 483
New Listings: 1,068 1,086
Active Listings: 4,876 4,687

Please Note
Left Column: stats for the entire month from this year
Right Column: stats for the entire month from last year

[rjag]

13 months of inventory based on these stats and a 25% decline over 2011 and 2010 and 50% over 2009....

[MarkoJ]

Any update on why active listings also jump from your numbers to what the VREB reports?

We'll figure it out next week, I've been crazy busy haven't had time to look into it yet.