Powell River Intro

I had to set aside blog posting last fall due to life’s trials and tribulations. Last month, I started working on the Sunshine Coast’s 2016 tables and charts in an attempt to catch up. As I looked at the SC data and combining it with what I had been reading in the local news, I really began to wonder what had happened or was happening up in Powell River? So, I set aside the SC stats, again, and began a hunt for PR data.

Guess who...?

I'm back. I went for a long walk and fell of the face of the earth and it was a challenge clawing my way back.

Seriously though, life intervened and I had to set aside the stats for much longer than I had hoped. I continued to collect the data, but didn't have time to process it. I'm been working on the latter for the last few weeks and will begin posting shortly.

SC - 2016 Stats Post #4

SC - Peak Stupidity: May 20, 2016

I think with any bubble whether it be housing, stock market or tulip bulbs there’s a defining moment that screams, “Party’s over!” You know as in, “Hey, finish that beer, find your coat and leave.” I think that moment for the Sunshine Coast occurred on May 20, 2016 with a Facebook announcement of this Gibsons sale...

Van - SDH Sales/Prices 2011-2016

Greater Vancouver Detached Sales, Average & Benchmark Sale Prices 2011 – 2016

The stunning price increases in Greater Vancouver has impacted not only its surrounding regions, but outlier markets such as Bowen Island and the Sunshine Coast as first time buyers look for affordable housing and baby boomers cash out their home equity, buy similar homes at cheaper prices, and bank/invest the remaining profit. The result has been a chain-reaction of rising home prices throughout the lower mainland and lower coastal region.

CMHC - it's 'Red' Alert

CMHC will issue 'Red' Alert on Canada's housing sector October 26, 2016

Skook: On Monday, October 17, 2016, in a Globe and Mail opinion piece, Canada Mortgage and Housing chief executive office Evan Siddall informed the public and business leaders that the federal agency would be issuing it first ever ‘red’ alert on the nation’s housing sector. The G&M followed with two articles; one on Monday and one today. I am posting all three pieces here beginning with Mr. Siddal, followed by today’s G&M article and then Monday’s piece - all for quick reference.

SC - 2016 Stats Post #3

Sunshine Coast January-September 2016 ‘$1mill+’ Property Sales

In my Oct 17 blog post, I introduced you to Jonathan Baker who appeared in a March 13, 2016 Bloomberg article which was reprinted in the Vancouver Sun the following day. The 78-year old retired lawyer and his wife had sold their Dunbar area home for $3mill in December 2015 and purchased a 4200sf waterfront home in Sechelt for half that amount thus pocketing a tidy profit of $1.5mill which the average Vancouver worker could never save in a life-time.

SC - 2016 Stats Post #2

Sunshine Coast 2016 ‘$1mill+’ Property Sales - An Intro

On Oct 3, I posted the December 2015 data for million dollar home sales on the Sunshine Coast. Sales in 2015 were the best in years. They picked up in May and didn’t look back ending the year with double the 2014 sales.

With last year’s sales in mind, I would like to introduce you to Jonathan Baker. He is the human element in the March 3, 2016 Bloomberg piece ‘Millionaire Boomers Decamp Vancouver Pocketing Housing Windfalls’ which was reprinted the next day on March 4 in the Vancouver Sun with a slightly expanded, emotionally packed header: ‘Millionaire boomers decamp Vancouver pocketing housing windfalls as city becomes a ‘commodity’’ (Skook: seriously...who writes this stuff?). There is a Sunshine Coast connection to Mr. Baker and because of that I'm posting the complete article.

RE - Foreign Buyer's PTT

Foreign Buyer's Property Transfer Tax - the Sunshine Coast and Bowen Island

(Skook: SC Realtor® Kenan Mackenzie posted a detailed explanation about the new Foreign Buyers Property Transfer Tax on Aug 2, 2016. I’m reposting it here in its entirety for reference. Highlighting is mine)

SC - 2016 Stats Post #1

SC Jan-Sep 2016 Benchmark/Median/Average Sales Price Comparison

I’ve been pulling some stats together and thought you might be interested in the result. It’s a bit of a 2016 stats “teaser” to give you something to think about as I plug away on the long overdue monthly stats posts.

Anyone who has followed my posts at VancouverPeak.com knows I strongly disagree with the Great Oracle (REBGV) bundling ‘$1mill+’ property sales with the rest of the SC's single detached home sales. This post clearly shows you why.

SC - 2016 Sales Predictions

It’s become a bit of a tradition these past few years for me to start off a new year of sales stats with local Realtor® predictions. So, I went on the hunt and managed to find 3 who gazed into their crystals balls and shared their visions with one and all. Today, I’ve read over those predictions and where appropriate or useful I have clarified or commented.