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#1601 Mike K.

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Posted 01 November 2018 - 08:12 AM

Are we seeing another push to avoid rising rates? For the first time in quite a while 2017 and 2018 figures are not far off (10% apart).

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#1602 MarkoJ

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Posted 01 November 2018 - 08:47 AM

Are we seeing another push to avoid rising rates? For the first time in quite a while 2017 and 2018 figures are not far off (10% apart).

 

I don't see a push, but the market is stabilizing for sure.


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#1603 tjv

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Posted 01 November 2018 - 09:26 AM

Speaking of pushes I am seeing a lot of developers trying to get their drawings in before the new BC Building Code takes effect December 10th so we might see a temp spike in building permits over the next few months



#1604 Mike K.

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Posted 01 November 2018 - 09:39 AM

I thought it was up to each municipality whether or not they adopt the Step Code?


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#1605 tjv

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Posted 01 November 2018 - 11:39 AM

Good question, the new code says:

 

Energy Efficiency Standards

The BC Building Code 2018 references new building energy efficiency codes and standards. Some of the changes include: enhanced requirements for roofs, walls and fenestration; additional controls for lighting to reduce energy use; and new efficiency and rating requirements for some mechanical systems. New buildings meeting these requirements will improve their energy performance, and the new requirements contribute to the Province’s goal of requiring net-zero energy ready buildings in the BC Building Code by 2032

https://www2.gov.bc....01/code-changes



#1606 MarkoJ

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Posted 05 November 2018 - 12:01 PM

Victoria Real Estate Board
Mon Nov 5, 2018:
 
November November
2018 2017
Net Unconditional Sales: 62 671
New Listings: 123 843
Active Listings: 2,405 1,764
 
Please Note
 
Left Column: stats so far this month
Right Column: stats for the entire month from last year 

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

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

 

 


#1607 Mike K.

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Posted 05 November 2018 - 01:19 PM

Do a lot of purchasers lift their conditions on weekends (or set a deadline on a weekend), or is that generally a weekday/business day thing?


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#1608 MarkoJ

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Posted 05 November 2018 - 02:12 PM

Do a lot of purchasers lift their conditions on weekends (or set a deadline on a weekend), or is that generally a weekday/business day thing?

 

95% would be a weekday for removing conditions.


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

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

 

 


#1609 MarkoJ

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Posted 13 November 2018 - 02:29 PM

Victoria Real Estate Board
Tue Nov 13, 2018:
 
November November
2018 2017
Net Unconditional Sales: 179 671
New Listings: 313 843
Active Listings: 2,377 1,764
 
Please Note
 
Left Column: stats so far this month
Right Column: stats for the entire month from last year

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

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

 

 


#1610 MarkoJ

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Posted 19 November 2018 - 09:20 AM

Despite a lot of headwinds, the market seems to be holding in there. Sales will be around the 10-year average and inventory still very low compared to 10 year average.

 
Victoria Real Estate Board
Mon Nov 19, 2018:
 
November November
2018 2017
Net Unconditional Sales: 276 671
New Listings: 477 843
Active Listings: 2,370 1,764
 
Please Note
 
Left Column: stats so far this month
Right Column: stats for the entire month from last year 

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

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

 

 


#1611 Nparker

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Posted 19 November 2018 - 10:56 AM

At the current rate it looks like sales will be far short of November 2017.



#1612 MarkoJ

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Posted 19 November 2018 - 12:43 PM

It was a crazy November last year.

 

Nov 2012 - 366

Nov 2013 - 412

Nov 2014 - 465

Nov 2015 - 573

Nov 2016 - 599

Nov 2017 - 671


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

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

 

 


#1613 tjv

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Posted 19 November 2018 - 01:07 PM

It looks like numbers will end up in the low 400s.  As I recall 2012 and 2013 were very slow and for the last few months prices have been pretty much flat with a slight decrease.  Even with low inventory, we have definitely entered a balanced market



#1614 dasmo

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Posted 19 November 2018 - 01:17 PM

With the momentum moving towards a buyers market this spring. Which might be bazaar if inventory is still low.

#1615 Mike K.

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Posted 19 November 2018 - 02:30 PM

Supply will dictate what happens in the New Year.

 

Active listings have been steadily falling. September ended with a 2018 high of 2,646 and today it's sitting at 2,370 (a drop of 10% over six weeks).

 

That being said 2017 ended with 1,384 listings.


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#1616 tjv

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Posted 19 November 2018 - 02:43 PM

I think listings will drop this time of year as no wants to sell their houses as Christmas and the holidays approach.  I'm certainly not interested in people parading thru my house as I get the lights and tree up, let alone parties, etc.



#1617 LeoVictoria

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Posted 19 November 2018 - 03:12 PM

Supply will dictate what happens in the New Year.

Active listings have been steadily falling. September ended with a 2018 high of 2,646 and today it's sitting at 2,370 (a drop of 10% over six weeks


Active listings always fall in the fall. What would be extremely radical is if they weren’t

#1618 Mike K.

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Posted 19 November 2018 - 03:36 PM

So here's the interesting thing. In 2015 and 2016 (and just like in 2018) listings dropped by 10-11% between the end of September and mid-November. Only in 2017 did they drop by 3%. In 2014 they dropped 12.5%.

 

Is there anything we can glean from last year's very stable listing environment  over the first 1.5 months of fall compared to the drops we've been in years prior?


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#1619 LeoVictoria

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Posted 19 November 2018 - 03:43 PM

So here's the interesting thing. In 2015 and 2016 (and just like in 2018) listings dropped by 10-11% between the end of September and mid-November. Only in 2017 did they drop by 3%. In 2014 they dropped 12.5%.

Is there anything we can glean from last year's very stable listing environment over the first 1.5 months of fall compared to the drops we've been in years prior?


Rock bottom inventory last year means there wasn’t much there to drop.
Also weekly numbers aren’t great for comparisons since the dates move around. Sept 30 to Nov 14 is 3% drop but one week later it’s 6%

#1620 Mike K.

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Posted 19 November 2018 - 04:08 PM

Right, that makes sense.


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