Thursday, October 14, 2010

I should throw some numbers up.

But there isn't much to report. About 50% list sales through-out.

North Shore

21 New
1 Back
20 changes
11 sales

Some Fraser Valley 14 day Numbers- which are showing some weakness.







North Delta, Surrey, North Surrey, Whiterock and Coverdale


BTW- I always have considered more price reductions than sales a sign of weakness coming into the market. It may lead to more weakness, or the new, lower prices may bring in buyers and stabilise the price. In 2008 it led up to the flash crash in RE. Lets see what it brings this time.


  1. PS - just saw a couple of properties that sold in Whsilter T/H for 150K off original asking. That is 20% off in both cases.

    The place has gone into hibernation.

    3 properties sold in the last week. 13 listed and nearly 800 on the books.

    You do the math!!

  2. BTW- Victoria list/sale has edged up to 12 MOI at current list/sale rates.

    If we are still at one year by the end of October, we should have a party - and hope that we can hit that number soon- sigh

  3. yikes that first comment was about Whistler!!

  4. fish, keep dreaming... cant you see that sales have stabilized, listings are down, not much inventory out there and prices are firming again? I dont call this market weak, rather it is stable to getting strong, all objective data points to this conclusion.

  5. Well Anon- I will work out the Math for you on Whistler.

    Based on last week's slaes and inventory, it will take 266 weeks to sell everything in Whistler.

    Actually outside of Vancouver things are looking very weak, and I still expect HPI to go down in Octoberin Vancouve too. But thank you for your advice and BTW my dreams are a LOT more interesting that RE projectiosn :)

  6. fish, no offence meant, I appreciate your blog and efforts you put into it, but one must face the reality in the end. I keep looking to find smth decent in west vancouver and there is not much supply out there, and whatever is listed is crap. As soon as smth decent comes on the market, its gone. I dont see this as a weak market.

  7. Well Anon. None of us can foretell the future. Who would have thought RE would fly so high here and in the US.

    Who would have thought the US would crash so long and so deep, bringing banks down leading to a near depression.

    Who would have thought that we would have a micro-crash and then the Government and BoC would panic and pump up the CMHC and put rates at zero and we would fly off again.

    All I knew was RE here and in the US was very over-priced!

    I still think it is. The rest is with the Gods.

  8. Fish,

    The last post is full of a ton of incorrect hyperbole's. I can list many individuals and firms that predicted and profited from the US crash. I know many people that bought into the correction of 2008 in Vancouver and have sold for a handsome profit during the snapback to new highs in 2010. I have an issue with Canadian bears always saying the Govt and BoC came in and artificially pumped up the markets to new highs. The market goes where it's going to go, stimulus is very short term in nature, you can't whine about a market that has gone up for 2 years and blame the govt because even more stimulus was given in the US and their markets are still making new lows. Why when they've done pretty much everything Canada has done and then some in the US is their housing market still at lows?