2697 replies to this topic

[MarkoJ]

Mon Jan 15, 2018:

 

Jan Jan

2018 2017

Net Unconditional Sales: 115 478

New Listings: 276 753

Active Listings: 1,417 1,516

 

Please Note

 

Left Column: stats so far this month

Right Column: stats for the entire month from last year

[Mike K.]

And this is what the situation looked like last year as of the 16th of January:

 

Jan Jan
2017 2016
Net Unconditional Sales: 160 539
New Listings: 317 934
Active Listings: 1,465 2,471

Please Note

Left Column: stats so far this month
Right Column: stats for the entire month from last year (2016)

 

So sales are down from 10/day in 2017 to 7.7/day in 2018.

[tjv]

yikes, that's a huge difference in the numbers.  what is going on with prices?

[MarkoJ]

yikes, that's a huge difference in the numbers.  what is going on with prices?

 

Houses flat, condos still climbing.

[MarkoJ]

Mon Jan 22, 2018:

 

Jan Jan

2018 2017

Net Unconditional Sales: 251 478

New Listings: 469 753

Active Listings: 1,420 1,516

Please Note

 

Left Column: stats so far this month

Right Column: stats for the entire month from last year

[MarkoJ]

Victoria Real Estate Board

Mon Jan 29, 2018:

 

Jan Jan

2018 2017

Net Unconditional Sales: 360 478

New Listings: 671 753

Active Listings: 1,469 1,516

Please Note

 

Left Column: stats so far this month

Right Column: stats for the entire month from last year

[Citified.ca]

First 31 days of 2018 send Victoria real-estate prices skyrocketing to record highs
https://victoria.cit...o-record-highs/
 
The volume of January property sales on southern Vancouver Island may not have broken records, but the cost of residential real-estate certainly did.
 
The average sticker price among 193 single-family-dwellings sold throughout the B.C. capital skyrocketed to a record-setting $925,715, 15% higher than one year ago. The median price, or the value of the one home in the middle of the pack, rose 15.4% to $785,000 and just $10,000 shy of September, 2017’s $795,000 all-time median record.
 
Data compiled by the Victoria Real-Estate Board paints a picture of a strong seller’s market and one that could be a wild ride for homebuyers for the remainder of the year, says Victoria REALTOR® Marko Juras.
 
“With the stress test, rising interest rates and the rising cost of real-estate on southern Vancouver Island I thought we would see far less activity than we did, but if the first 31 days of 2018 are any indication buyers clearly want in, they’re willing to pay a premium and they obviously feel that despite the already high prices they are lower than they may soon be.” [Full article]

[MarkoJ]

Victoria Real Estate Board

Mon Feb 5, 2018:

 

Feb Feb

2018 2017

Net Unconditional Sales: 72 675

New Listings: 104 880

Active Listings: 1,434 1,537 

[MarkoJ]

Victoria Real Estate Board

Tues Feb 13, 2018:

 

Feb Feb

2018 2017

Net Unconditional Sales: 185 675

New Listings: 311 880

Active Listings: 1,487 1,537

Please Note

 

Left Column: stats so far this month

Right Column: stats for the entire month from last year

[MarkoJ]

Victoria Real Estate Board

Mon Feb 19, 2018:

 

  Feb Feb

  2018 2017

Net Unconditional Sales: 312 675

New Listings: 519 880

Active Listings: 1,519 1,537

Please Note

 

Left Column: stats so far this month

Right Column: stats for the entire month from last year

[MarkoJ]

Victoria Real Estate Board

Mon Feb 26, 2018:

 

Feb Feb

2018 2017

Net Unconditional Sales: 476 675

New Listings: 751 880

Active Listings: 1,536 1,537

Please Note

 

Left Column: stats so far this month

Right Column: stats for the entire month from last year

[lanforod]

How bout that, listings are starting their spring run up a little early... while sales are still flat.

[Nparker]

Will we be seeing a leveling off of prices?

[MarkoJ]

Will we be seeing a leveling off of prices?

 

Most likely....sales down 2nd year in a row YOY.

[MarkoJ]

Lowest new listing count on record for Feb

 

Victoria Real Estate Board

Thu Mar 1, 2018:

 

Jan Jan

2018 2017

Net Unconditional Sales: 545 675

New Listings: 837 880

Active Listings: 1,545 1,537

 

Please Note

 

Left Column: stats for the entire month from this year

Right Column: stats for the entire month from last year

[tjv]

Any news on how the stress test is affecting people?  I know its early, but any reactions for house sales from the latest NDP budget?

[Mike K.]

Too early to gauge reactions, I’d imagine. BUT March is going to be a strong indicator as:
- stress test will finally kick in for mortgage approvals locked in back in December and which now require re-approval with the stress test
- domestic buyers frightened by the speculation tax will start making preparations to sell off property
- domestic buyers will now reconsider property purchase in BC
- foreign buyers will absolutely reconsider property purchases in Victoria, and some will start preparing to sell off property
- Cowichan Valley housing costs will rise over the next six months as would-be foreign buyers in Victoria start looking to nearby jurisdictions outside of the FBTax
- next six months could see massive decrease in demand for Gulf Island properties where many owners are non-BC residents, and we could see a sudden sell-off scenario into 2019 as the 2% comes into effect
- condos will appreciate further as buyers are pushed into their more affordable prices

[Nparker]

- condos will appreciate further as buyers are pushed into their more affordable prices

[MarkoJ]

Victoria Real Estate Board
Mon Mar 5, 2018:

Mar Mar
2018 2017
Net Unconditional Sales: 72 929
New Listings: 147 1,217
Active Listings: 1,564 1,556
Please Note

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

[Nparker]

If the current rate of sales continue for the rest of the month, numbers will be way down from March 2017.