Friday 3 August 2018

Van - DET/Condo Sales Data July 2018

Greater Vancouver July, 2018 Detached/Condo Sales, Average & Benchmark Prices Update

I have changed my mind. The July Sales stats for Greater Vancouver single detached and condo sales are so spectacularly bad they deserve a brief update. All three major markers for single detached homes - sales, Benchmark and Average Sale Prices - fell across the board for the second straight month. July’s detached sales fell -16.8% month-over-month and those 637 sales stand -70.2% below peak (Mar 2016).

Thursday 2 August 2018

Van - Condo Sales Data 2013-2018

Greater Vancouver January - June, 2018 Apt/Condo Sales, Average & Benchmark Prices

As detached home prices soared despite falling sales, buyers and investors moved over to condos/townhouses. The peak for condo sales occurred in March 2016 at 2252; however peak frenzy was reached when the sales-to-active-listing ratio (SALR) topped out at 94.6% in May 2017.

Tuesday 31 July 2018

Van - SDH Sales Data 2012-2018

Greater Vancouver January-June 2018 Home Sales, Average & Benchmark Prices

You would have to be living in your own bubble not to be aware of the collapse of Greater Vancouver single detached house sales. The Sunshine Coast is too close the lower mainland not to feel the repercussions of the roller coaster ride of lower mainland booms and busts. Because of this, I first posted Greater Van stats here on the blog back on October 18, guess an update is a tad overdue.

Sunday 29 July 2018

1045 Edmonds Road, Roberts Creek

A listing pic caught my attention last week. I saw it and said to myself, “Hey, I recognize you...

Tuesday 24 July 2018

SC - 2018 Stats Post #6

Sunshine Coast Single Detached Home Sales by Price Range Over $1 million

With prices rising on the SC due to supply and demand, cheap money, speculation, rising assessments, etc., homes that had been priced in the $700,000 to $999,999 were pushed into the price ranges above $1 million. This goes a long way in explaining the increase in million dollar property sales beginning April 2016.

SC - 2018 Stats Post #5

Sunshine Coast Single Detached Home Sales by Price Range Under $1 million

Single detached home prices have risen significantly since mid-2015 when buyers/investors returned to the SC in droves. Compared to major markets (e.g. Vancouver, Toronto), house prices back then on the SC must have caused eyes to pop - they looked so cheap by comparison.

Sunday 22 July 2018

SC - 2018 Stats Post #4

Sunshine Coast Single Detached Home Sales January-June 2018

I will be keeping explanations and comments to a minimum since most tables and charts are labelled well.

SC 2018 Stats Post #3

Sunshine Coast BC January - June 2018 Real Estate Sales - All Types

As mentioned in the previous 2018 stats posts, I had hoped to being posting in May; however, those plans fell through, so this post covers 6 months in two parts. Post #3 looks at all sales on a month-to-month and year-over-year basis. It then shows the distribution of these sales within the SC market areas.

Tuesday 17 July 2018

SC - 2018 Stats Post #2

Sunshine Coast BC January - June 2018 “$1 million Plus” SDH Sales

I had hoped to begin posting 2018 stats back in May, but those plans fell through. So, these $1mill+ property sales stats are in two parts: pre-May and post-May. The chart and tables are fairly straightforward; however, there is an explanatory note below the first image in regards to the large data table.

Monday 16 July 2018

SC - 2018 Stats Post #1

Sunshine Coast BC January - June 2018 Land Sales

I had good intentions to start posting 2018 stats in May, but it didn’t happen. So, in addition to January - April data, I’m tacking on May -June sales. The tables and charts are straightforward and need little explanation.

Sunday 15 July 2018

SC - 2017 Sales Summaries

2017 Sunshine Coast Year End Tables and Charts

In late 2015 and early 2016, anything that wasn’t nailed down sold. The Sunshine Coast was at bargain basement prices and the deals were too good to ignore for lower mainland investors; perhaps including ‘pre-sale’ contract flippers and money launderers (been reading the ugly news stories involving the BC Liberals?) I was seeing some weird shit in some development pre-sales at this time and now I think I know why.

But it all came to a screeching halt by May 2016 - this was 2007 all over again. There were no more bargains and the multiple offers and hundreds of buyers dried up. Oh, there were still a few stragglers suffering from “fear of missing out” (FOMO); but, now their two year variable rate mortgages are coming up for renewal at higher interest rates and the banks may turn them down if they can’t pass the “stress” test which will go up, too, following this past Tuesday's Bank of Canada’s rate increase. Of course, the plan was never to renew but to flip after two years (got to keep an eye out for the Canada Revenue Agency). But, to add insult to injury prices are dropping across the board - big time. You’ll see that in my 2018 posts.

Liar, Liar...

...Pants on Fire!

Who am I kidding? It’s blatantly obvious I won’t get the rest of 2016 stats posted let alone 2017.  So, here’s the deal. I have just completed tables and charts for a 2017 Sales Summary Post - that will go up today. Then, I’m moving right into 2018 stats...praise the Lord.

I’m warning you now those 2018 stats posts cover January to June and will be massive because I have been very creative with my tables and charts. I have gone all out because these could be my last postings. The ultimate goal is to finish the year and call it quits, regardless.

Sunday 11 March 2018

I’m back...for now...

The last seven months have been challenging and unfortunately will continue to be so. My cognitive abilities and energy level have definitely been impacted by my recent treatments (radiation and chemo). However, I’ve always liked a challenge and catching up on this blog would definitely offer that.

I have just added “SC 2016 Stats Post #9” below. I had it and another post more or less ready to go at the time of my brain malfunction. Reading it today is a challenge for me, so I hope it makes sense to you - at least the charts look good. There will be a few more posts coming to finish of 2016.

As for 2017 data, I think I might just upload the tables and charts and keep the text to a minimum just so that I can get caught up. Well, that’s the goal anyways.

SC - 2016 Stats Post #9

Sunshine Coast 2016 Single Detached Home Benchmark, Median, and Average Sales Price

I began my last post (#8) with the explanation that there are three data sources that I turn to for my statistics posts and that they all report single detached home sales differently:

  • REBGV: combines all price range SDH sales + MOP sales.
  • SC Realtor® Gary Little: combines all price range SDH sales; reports MOP sales separately.
  • Skook: combines SDH sales under $1 million dollars + MOP sales; reports $1 million dollar sales separately.

The table and chart below shows an important aspect of their reporting method - the number of sales used in their medium (MSP) and average (ASP) sales price calculation varies. To illustrate: in May 2016, the table on the left shows there were 16 sales ‘$1million’ and above and 3 manufactured on pad (MOP) sales.