REBGV - Pumping the Industry

May 2017 Update - British Columbia's Real Estate Economic Spinoffs

Every month the REBGV publishes a News Release along with the Board’s real estate sales stats. Both are loaded together in a .pdf file that you can download from the Board’s website.In the News Release, there are two to three paragraphs of small type (it can vary) to be found towards the bottom of the second page. I read that small type one day and whistled. There were some interesting figures in that blurb such as the yearly number of homes sold board-wide, the dollar volume of those sales and of all sales combined. The information that I believe was most important to the REBGV to disseminate was the overall economic impact of Real Estate on the BC economy both in jobs and money generated. It is hard for government to ignore an industry that is adding billions of dollars to the provincial economy.

Flip of the Week #3

5398 Wakefield Beach Lane, Sechelt

and

The Law of Diminishing Returns

Strata townhouse listed on June 15, 2017 @ $699,900, MLS R2178419.

(5398 is the unit on the far left)

Gibsons Gower Point Goodie

Property: 316 Gower Point Road, Gibsons BC, MLS® R2158963
Listing Price: $1,788,000 (really, HAM pricing is just so passé)
Price Drop: $1,599,000 (Jun 22)
Days on Market: 64

PR - 2017 RE Sales Post #1

Powell River BC Jan - May 2017 Real Estate Sales Statistics

At last! 2017 real estate statistics!

Powell River started the year with a bang - residential units up 15.8% month-over-month and 57.1% year-over-year. February drew back ending with both indicators in the red; but, March roared with sales up 73.7% month-over-month and 26.9% year-over-year. Then, damn, someone let the dogs out! Sales petered in April and went flat in May.

Powell River BC 2016 Census

Powell River BC 2016 Census: Population & Demographics

Statistics Canada released the 2016 Census population and demographic data on May 3, 2017. The following day CBC News online posted an interactive graphic based on that data. CBC’s goal with the graphic was to illustrate a critical issue facing the nation - our aging population.

CBC presented one particularly interesting table. It listed the 10 communities in Canada with the oldest populations and five of those communities are in British Columbia. Ranking 1st - Parksville on Vancouver Island; ranking 5th - Penticton in the Okanagan; ranking 8th - Salmon Arm in the Shuswap; ranking 9th - Courtenay on Vancouver Island; and ranking 10th - Powell River on the Sunshine Coast with 27.2% of its population 65 years and older. (My own calculation: 27.1%)

Powell River 2016 RE Sales

January - December 2016 Powell River, BC, Real Estate Sales Statistics

On May 4, 2017, CBC News online posted an interactive graphic giving an interesting spin to the 2016 Census population/demographic data released by Statistics Canada the day before.  One particular table caught my eye and because of it I decided I to add Powell River to this real estate blog. (That CBC table will appear in a future post.)

I have already posted Powell River year-end total residential unit sales and average sales prices charts for the years 2005-2016. Now I’ll take a more in depth look at the last six years and present month-to-month data tables for 2016.

Flip of the Week #2

I showed a single detached property in my first “Flip of the Week”. I mentioned in that post that lots sold in 2016 have already been put back on the market.

"Properties [single detached] bought in 2015 are now coming back onto the market and I expect that to gather speed. Lots bought last year are already being listed and sold."

I believe I shouldn’t let this hang, but offer examples to back it up. Well, I am going to offer three examples and these 3 lots turn out to be in the same town; in the same subdivision; and, within spitting distance of each other on the same street.

Powell River 2005-2016 Sales

Let’s kick off Powell River real estate statistics with a historical look at sales and average sales price from 2005-2016. I mentioned in my PR introduction post that my sole source for data is the British Columbia Real Estate Association (BCREA) which pools the residential sales (single detached, duplex, townhouse, condo). However, as best as I can determine the sales are almost entirely single detached - please correct me if I am wrong.

Flip of the Week

The Globe & Mail has a real estate feature called “Done Deal” and every now and then they present a property from the Sunshine Coast. Since July 2015, six local properties were deemed worthy enough to make the national paper. I’ve borrowed and modified the “Done Deal” layout for this new blog feature:  

Sunshine Coast - Flip of the Week

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Property: 1045 Edmonds Road, Roberts Creek, BC (Sunshine Coast)

Pender Harbour Hyperbole

Property: Lot A Sakinaw Lake, Pender Harbour, R2175787