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reallyreal2
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Re: Vancouver indvidual property sales details

Wed Jan 18, 2017 3:50 pm

You can compare all you want yourself - the stats are public information.

All I know is that January 2016 is tracking to be a disaster.
 
tdma800
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Re: Vancouver indvidual property sales details

Thu Jan 19, 2017 8:42 am

coming out of the winter - to the moon!
 
VanLord
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Re: Vancouver indvidual property sales details

Thu Jan 19, 2017 9:11 pm

You can compare all you want yourself - the stats are public information.

All I know is that January 2016 is tracking to be a disaster.
I don't personally care enough to bother, but you keep bringing up this comparison to last year, and I'm just saying it might look bad by comparison to last year, but what does it look like historically...on a longer term trend line are we back to historical sales volume averages, below, above?  I think its important to the overall picture.
In my world, rents remain good, tenants are happy, if they leave I can jack up the rent even more and will have no trouble filling my units, and interest rates might end up ticking lower.  I don't see this as a disaster at all.
 
2000sqft
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Re: Vancouver indvidual property sales details

Fri Jan 20, 2017 10:33 am

Most people look at the long term trends and historical averages. Some people don't know what they're doing and just read the newspaper then follow whatever is written
To the moon and beyond!...at $2000 per sq ft
 
Geyser
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Re: Vancouver indvidual property sales details

Fri Jan 20, 2017 2:22 pm

I would suggest that sales falling below the 10 year average is highly significant, particularly when one considers how much the population has grown over the last decade.

Here is what Steve Saretsky says:

Are We In Denial?
January 18, 2017

No Trickle Effect, Slumping Sales Dismissed

As I’ve highlighted in every recent monthly report, sales are slumping. As of December, 2016 detached sales in Vancouver are down 50%, townhouses down 31% and condos down 25%. Now don’t get me wrong, 2016 was a record year, but even then, sales are still below 10 year averages.

Recently, there seems to be some sort of denial around the slumping sales numbers. Look I don’t know where the market is going, neither does the next guy. However, some are choosing to downplay sales even though we all emphasized sales only a short year ago. The latest excuse is that slumping sales are due to low inventory levels. This seems logical since little inventory means fewer homes for buyers to choose their “dream home.” But how quickly forget we set record sales last year despite record low inventory."

For those that don't know his blog, Steve Saretsky is a very unusual realtor, he tells it like he sees it, my "spin detection meter" remains stuck on zero when I read his comments.

Here is a link to his site:
http://vancitycondoguide.com
 
eyesthebye2
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Re: Vancouver indvidual property sales details

Fri Jan 20, 2017 7:14 pm

Not many sales, but saw this one posted today.

1827 east 40th ave
2602sqft detached built 1968
34x122 RS1 lot
Asking $1,289,900
Sold $1,429,000 on 18Jan2017
Opportunity knocks! This Vancouver Special is located in the Kensington-Cedar Cottage neighbourhood & is nestled on a quiet cul-de-sac of only 18 homes. This 1 owner home is in original condition & is waiting for your personal touch. There are 3 bdrms + 2 baths on the upper level & a 2 bdrm suite below. Attached is an enclosed 2 car carport w/additional parking available in the driveway. Off of the upstairs kitchen, there is a large 323 sq.ft. sundeck w/ mountain views. The location is a walkers paradise; just steps to London Drugs, Victoria Dr. shops and services. Tecumseh Elementary is just 1 block away & Jones, Tecumseh & Kensington Parks are close by. K-7 Tecumseh; 8-12 Gladstone Secondary. By appt only.
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reallyreal2
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Re: Vancouver indvidual property sales details

Wed Feb 01, 2017 9:35 am

That's yet another example of market decline.

That house would have sold for $1.6 - $1.7M last year.  Nevermind the asking price is incorrect.

Nice try ETB - LOL
 
tdma800
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Re: Vancouver indvidual property sales details

Wed Feb 01, 2017 9:42 am

Not many sales, but saw this one posted today.

1827 east 40th ave
2602sqft detached built 1968
34x122 RS1 lot
Asking $1,289,900
Sold $1,429,000 on 18Jan2017
Opportunity knocks! This Vancouver Special is located in the Kensington-Cedar Cottage neighbourhood & is nestled on a quiet cul-de-sac of only 18 homes. This 1 owner home is in original condition & is waiting for your personal touch. There are 3 bdrms + 2 baths on the upper level & a 2 bdrm suite below. Attached is an enclosed 2 car carport w/additional parking available in the driveway. Off of the upstairs kitchen, there is a large 323 sq.ft. sundeck w/ mountain views. The location is a walkers paradise; just steps to London Drugs, Victoria Dr. shops and services. Tecumseh Elementary is just 1 block away & Jones, Tecumseh & Kensington Parks are close by. K-7 Tecumseh; 8-12 Gladstone Secondary. By appt only.
You're a licensed and vetted individual and as such get more weight than the proverbial john smith
 
rofina
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Re: Vancouver indvidual property sales details

Wed Feb 01, 2017 11:07 am

West Van, and Van West sales slump in January 2017 will beat the all time low of January 2009.

Tough to ignore that Jan 2017 is a worse year for luxury sales than the low of the financial crisis. 

Also tough to ignore that pool of buyers at $2,000,000+ is largely limited to foreign buyers.

Hard to imagine high end going illiquid and down, without a knock on effect on East Side and periphery. 

I imagine condos might perform better, as they are largely local economy FTB driven.
 
tdma800
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Re: Vancouver indvidual property sales details

Wed Feb 01, 2017 11:12 am

Metro Vancouver sales increase after winter will meet expecations and incrase. Easy to miss that recent months are a better year than many.

Especially that(except for people unware) that there are so many Canadians at over a million it isnt even funny.

Multi family isnt that good since you have to fiddle with leaks and stuff
 
reallyreal2
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Re: Vancouver indvidual property sales details

Wed Feb 01, 2017 11:47 am

West Van, and Van West sales slump in January 2017 will beat the all time low of January 2009.

Tough to ignore that Jan 2017 is a worse year for luxury sales than the low of the financial crisis. 

Also tough to ignore that pool of buyers at $2,000,000+ is largely limited to foreign buyers.

Hard to imagine high end going illiquid and down, without a knock on effect on East Side and periphery. 

I imagine condos might perform better, as they are largely local economy FTB driven.
The stats for January 2017 are going to be comical.
Sales down.  Prices down.  Realtors down and out.  Trolls will keep on trolling though  :lol:
 
tdma800
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Re: Vancouver indvidual property sales details

Wed Feb 01, 2017 11:49 am

When reports for first of this year are burped out they will be stodgy. Business higher,. people up and in.  To the moon!
 
2000sqft
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Re: Vancouver indvidual property sales details

Wed Feb 01, 2017 1:21 pm

Sales r down because most sellers are still asking for the moon. Have just seen one detached narrow lot sell for above assessed price and barely lasted a week
To the moon and beyond!...at $2000 per sq ft
 
yzfr1
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Re: Vancouver indvidual property sales details

Wed Feb 01, 2017 2:23 pm

With the 15% foreign tax, and all of the new regulation and all the news of price drop, im surprised there is even sales at all.

I wonder who is still buying, hard to imagine people brave enough to buck the downward trend
 
eyesthebye2
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Re: Vancouver indvidual property sales details

Wed Feb 01, 2017 3:15 pm

West Van, and Van West sales slump in January 2017 will beat the all time low of January 2009.

Tough to ignore that Jan 2017 is a worse year for luxury sales than the low of the financial crisis. 

Also tough to ignore that pool of buyers at $2,000,000+ is largely limited to foreign buyers.

Hard to imagine high end going illiquid and down, without a knock on effect on East Side and periphery. 

I imagine condos might perform better, as they are largely local economy FTB driven.
I heard the 5+ million market is in trouble. But unlike 2009 when you'd see about 100 listings under 2M, there are currently only 4 listings sub 2M on the west side.

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