A couple hundred SFH listed under1,000,000 based on a quick look at MLS. Relatively few in the core though
Victoria Real-Estate Board statistics
#1401
Posted 17 April 2018 - 10:14 PM
#1402
Posted 18 April 2018 - 12:46 AM
- tjv likes this
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#1403
Posted 18 April 2018 - 01:25 PM
Here's more of a breakdown.
So as of right now approximately
- 300 listings are SFD's priced below $1 million
- 350 listings are SFD's priced above $1 million
- 370 are condominiums
- 108 of townhomes
- 41 are a "duplex"
- 9 are revenue duplex, triplex and fourplex units
- 14 are manufactured double-wides
- 15 are manufactured single-wides
- 5 are apartment blocks
- 75 are offices
- 50 are retail spaces
- 200 are vacant land
= ~1,600 units, plus some other listings
- Nparker, qwerty and FirstTimeHomeCrier like this
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#1404
Posted 18 April 2018 - 07:10 PM
200 vacant land? really? That seems high
#1405
Posted 19 April 2018 - 03:43 AM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#1406
Posted 23 April 2018 - 08:30 AM
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
#1407
Posted 23 April 2018 - 08:55 AM
Approximately 720 of the active listings are single-family homes, 370 are condos and and 120 are townhomes which accounts for just over 1,200 of the listings.
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#1408
Posted 24 April 2018 - 07:03 AM
it appears sales aren't being affected by the stress test and are picking up again. It will be interesting to see where prices are at the end of the month since March alone was up 2.1%. Heck, when is it going to stop, its just out of control upwards which is a good thing for property owners, but I feel bad for renters who want to own one day
The alternate mortgage market is booming too, I just rejected a loan request where they were offering 38%
#1409
Posted 24 April 2018 - 07:17 AM
it appears sales aren't being affected by the stress test and are picking up again. It will be interesting to see where prices are at the end of the month since March alone was up 2.1%. Heck, when is it going to stop, its just out of control upwards which is a good thing for property owners, but I feel bad for renters who want to own one day
The alternate mortgage market is booming too, I just rejected a loan request where they were offering 38%
Seeing a few price reductions in SFD's up in North OB and a couple that have been on for more than a few weeks. the bloom is off the rose for SFD's over $1mill
#1410
Posted 25 April 2018 - 05:23 AM
^I have seen some prices that are just way out there. I've said it before I think people are just trying the market with the attitude if it sells great, if not then who cares
I posted this house several months back saying I thought it was overpriced and very cheaply finished. Some of you disagreed with me, but its still for sale for the same price 3.5 months later https://www.zolo.ca/...onnington-place
#1411
Posted 25 April 2018 - 07:16 AM
Edited by dasmo, 25 April 2018 - 07:17 AM.
#1412
Posted 25 April 2018 - 08:25 AM
The pent-up demand for SFD's in this region is insane. That's what's keeping the market going, the sheer lack of inventory and thousands of people with money to buy an $800,000 home who are waiting for the perfect opportunity to jump in. And lots of folks have made a sizeable return on their condo purchases over the last decade and they want to cash out then cash in to a SFD, and they have 20-30-40% down payments ready to go.
The only thing that will slow this market is a rapid interest rate rise. The stress test hasn't had much of an effect other than pushing away individuals who were already on the fringe. The rest of the market just reassessed its expectations to fit within the test, saved a little longer, or tapped into family/borrowed money.
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#1413
Posted 25 April 2018 - 08:26 AM
#1414
Posted 25 April 2018 - 08:32 AM
Nope, not at all. There's literally nothing to buy out there. When you have 350 SFD's homes priced below $1 million for sale throughout the entire region, its extremely slim pickings while competition is high and upwards pressure on prices remains an obstacle for people trying to get in.
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#1415
Posted 25 April 2018 - 11:18 AM
- Nparker likes this
#1416
Posted 25 April 2018 - 01:28 PM
What we're seeing is the market chilling out a little. Prices can’t rise forever and we’ve likely encountered resistance there, but demand remains overwhelming.
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#1417
Posted 25 April 2018 - 02:18 PM
We do know thanks to HHV (who uses the VREB statistics). SFH sales down. New listings about the same.
#1418
Posted 25 April 2018 - 02:22 PM
I'm seeing more listings were added last year at this time, while sales this year are corresponding with the drop in listings. Fewer listings are materializing this year (or over that period), overall.
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#1419
Posted 25 April 2018 - 02:51 PM
#1420
Posted 25 April 2018 - 02:54 PM
The sales-to-listings ratio is virtually 1:1 on those graphs, and last year we did indeed have more sales but also more listings. We also didn't have the stress test nor the increased rates (those came by the third quarter, I believe).
Last year far outperformed this year, that's for sure, and that trend is continuing. Last year also was beat out by the year before, wasn't it? I think it was.
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
Use the page links at the lower-left to go to the next page to read additional posts.
1 user(s) are reading this topic
0 members, 1 guests, 0 anonymous users