A greater than 33% sales increase over February 2019. That's impressive.
Victoria Real-Estate Board statistics
#1801
Posted 02 March 2020 - 10:32 AM
#1802
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
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
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 downNet 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.
#1805
Posted 02 March 2020 - 02:44 PM
Thanks for the graph Leo, much appreciated.
#1806
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
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
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
Posted 09 March 2020 - 08:55 AM
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
#1810
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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Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#1811
Posted 16 March 2020 - 09:03 AM
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
#1812
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
Posted 16 March 2020 - 04:20 PM
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Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
#1814
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
Posted 16 March 2020 - 06:25 PM
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#1816
Posted 16 March 2020 - 07:17 PM
I really wish we could forgo your fear **rn just this once.
Me expressing hope that govt help those that may need to sell is fear **rn? You are sadly misinterpreting things. Chill out buddy.
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#1817
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
Posted 16 March 2020 - 07:53 PM
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#1819
Posted 23 March 2020 - 08:14 AM
Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2023 | Fair Realty
www.MarkoJuras.com Looking at Condo Pre-Sales in Victoria? Save Thousands!
#1820
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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