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Victoria Real-Estate Board statistics


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#1801 Nparker

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Posted 02 March 2020 - 10:32 AM

A greater than 33% sales increase over February 2019. That's impressive.



#1802 davidN

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Posted 02 March 2020 - 11:57 AM

Rising prices coming to a neighbourhood near you - soon?

 

Resale inventory the same as last year (half of  what it was in 2014)

Sales up
New home construction down

Net inflow of people strong

Employment high

Stress test relief coming?

Interest rate decline coming?

 

Read the signs and act accordingly.



#1803 LeoVictoria

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Posted 02 March 2020 - 02:29 PM

A greater than 33% sales increase over February 2019. That's impressive.

 

Well mostly because last Feb was so weak (snowmageddon).



#1804 LeoVictoria

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Posted 02 March 2020 - 02:31 PM

Rising prices coming to a neighbourhood near you - soon?

 

Resale inventory the same as last year (half of  what it was in 2014)

Sales up
New home construction down

Net inflow of people strong

Employment high

Stress test relief coming?

Interest rate decline coming?

 

Read the signs and act accordingly.

 

Yup.  Prices certain to increase under these market conditions.   Stress test threw the market for a loop so prices have been flatter than normal but we would expect to see prices appreciating ~8%/year with this kind of market.  Especially single family under $900k is off the hook.  1/4 going over ask.

priceMOI.png



#1805 VIResident

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Posted 02 March 2020 - 02:44 PM

Thanks for the graph Leo, much appreciated. 



#1806 Mike K.

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Posted 02 March 2020 - 08:45 PM

I imagine our winter weather will put quite a damper on sales in February.


Sure that is basically real estate marketing 101 when sales are poor. Doesn’t matter what the weather is either.

Winter weather: “cold temperatures kept prospective buyers at home”
Nice weather: “nice weather encouraged people to play outside and out of open houses”.


A greater than 33% sales increase over February 2019. That's impressive.


Well mostly because last Feb was so weak (snowmageddon).


Oi vey
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#1807 LeoVictoria

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Posted 02 March 2020 - 10:36 PM


Oi vey

got me there.  Stress test was likely much bigger effect but I didn’t want to get into that explanation.   I actually tracked sales during the snow event last year to see if there was a clear effect but it was a little inconclusive so I never published it.   Might dig it out again.


Edited by LeoVictoria, 02 March 2020 - 10:37 PM.


#1808 Mike K.

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Posted 03 March 2020 - 07:20 AM

The unseen hand of emotion plays a far larger role in the market than most other variables combined.


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#1809 MarkoJ

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Posted 09 March 2020 - 08:55 AM

Victoria Real Estate Board
Monday Mar 9, 2020:
 
Month Mar Mar
Year 2020 2019
Net Unconditional Sales: 165 640
New Listings: 307 1,284
Active Listings: 2,172 2,435
 
Please Note
 
Left Column: stats for the entire month from this year
Right Column: stats for the entire month from last year

Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2019 | Fair Realty

www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#1810 Mike K.

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Posted 11 March 2020 - 09:23 AM

"Are you sure we should list our home right now? I don't want strangers walking through the place with this virus going around."

 

Can we assume listings will drop in the coming weeks?


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#1811 MarkoJ

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Posted 16 March 2020 - 09:03 AM

Victoria Real Estate Board
Monday Mar 16, 2020:
 
Month Mar Mar
Year 2020 2019
Net Unconditional Sales: 337 640
New Listings: 595 1,284
Active Listings: 2,224 2,435
 
Please Note
 
Left Column: stats for the entire month from this year
Right Column: stats for the entire month from last year 

Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2019 | Fair Realty

www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#1812 Victoria Watcher

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Posted 16 March 2020 - 04:16 PM

"Are you sure we should list our home right now? I don't want strangers walking through the place with this virus going around."

 

Can we assume listings will drop in the coming weeks?

 

yes.  



#1813 Mike K.

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Posted 16 March 2020 - 04:20 PM

Quite the stalemate is materializing. People don’t want to list and they don’t want to buy. The market is hitting a pause button.

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#1814 LeoVictoria

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Posted 16 March 2020 - 06:15 PM

Which is just fine for buyers.  No one needs to buy.  But a portion of sellers need to sell.   And that number goes up with job losses.   
 

For those with mortgages, CMHC is talking to lenders to allow mortgage deferrals for up to 6months so that could help



#1815 Mike K.

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Posted 16 March 2020 - 06:25 PM

I really wish we could forgo your fear porn just this once.
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#1816 LeoVictoria

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Posted 16 March 2020 - 07:17 PM

I really wish we could forgo your fear porn just this once.

Me expressing hope that govt help those that may need to sell is fear porn?    You are sadly misinterpreting things.   Chill out buddy.  


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#1817 LeoVictoria

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Posted 16 March 2020 - 07:19 PM

The article I wrote for the capital on the housing impact is positive by the way.   Short term dive in sales possible, then rebound due to low interest rates, then back to status quo.  
 

But sure I’m a fearmonger.  



#1818 Mike K.

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Posted 16 March 2020 - 07:53 PM

Just give it a few days to sink in and settle in. We all know there will be a dip, a rise, and a return to normal. That’s not the question. The question is how many people will be able to rely on government assistance to not lose their homes.
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#1819 MarkoJ

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Posted 23 March 2020 - 08:14 AM

Month Mar Mar
Year 2020 2019
Net Unconditional Sales: 468 640
New Listings: 840 1,284
Active Listings: 2,254 2,435
 
Please Note
 
Left Column: stats for the entire month from this year
Right Column: stats for the entire month from last year 

Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2019 | Fair Realty

www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#1820 Bernard

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Posted 23 March 2020 - 08:39 AM

How are we getting the data for the whole month when there are still 9 days to go?



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