Hey Fish, any data from the Okanagan and Sunshine Coast for December?
Totals include variables in any given, due to preceding month's collapsed sales and deleted listings. e & oe
ResidentialCondo/Apt
Sales 31 New Listings 87 Current Inventory 766 Sell/Inv. Ratio 4.05% Days to Sell 166 Average Price $196,066 Median Price $186,500
Condo/Townhouse
Sales 21 New Listings 51 Current Inventory 389 Sell/Inv. Ratio 5.40% Days to Sell 121 Average Price $324,183 Median Price $310,000
Lots
Sales 6 New Listings 43 Current Inventory 541 Sell/Inv. Ratio 1.11% Days to Sell 197 Average Price $297,300 Median Price $242,899
Residential
Sales 96 New Listings 179 Current Inventory 1,138 Sell/Inv. Ratio 8.44% Days to Sell 108 Average Price $451,130 Median Price $424,625
Ratio of Sales vs Inventory 5.43%
You don't need me to tell you that those sell/list ratios add up to enormous MOIs which can only be resolved by more buying or a sellers strike.
They don't have December 2010's numbers up (I couldn't find them anyway) but there are big drops compared with January 2011 prices. December is an oddity, so we won't say that the OK is crashing....yet... just that it is under some 'price pressure'.
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Here are some nice graphs from Victoria
SFH average prices are now under December 2009 levels and Townhomes are really in a down-trend.
As for the Sunshine Coast. Almost no SFH sales in December - barely into double digits - while 390 sit on the books. However it was December, so volume is expected to be light. A single solitary SFH sale so far in 2012. (note my Sunshine Coast analysis ends at Pender Harbour /Egmont)
Thanks Fish,
ReplyDeleteI believe that these areas are precursors of what's awaiting Vancouver, that's why I like to keep an eye on what's going on there.
What is it so hard to comprehend that HAMs buy up M$ homes, help themselves and their extended families with our health care generously! Recently, Mingpao reported that Vancouver Coastal Health Authority is owed $Xxx,xxx,xxx by foreign patients, including those from Taiwan - China - HK whose women came to give birth and collect future citizenship for their babies.
ReplyDeleteWhat is an "Asian" or a "Chinese"???
Not every Asian-Canadian or Chinese-Canadian has tie with PRC!!!
These "Chinese"-Canadians are not one of our Chinese-Canadians. They should be known as PRC-Canadians who only salute to PRC flag, irrespectively of what western passports they carry or which western countries they live in.
"Chinese"-Canadians six persons eating raw meat to conquer the North Pole Aurora concept
http://tinyurl.com/865ppm9
People immigrate here for our free education, cheap tertiary education, free universal health care. It is accidental that they live in M$ houses and drive highend luxury cars.
ReplyDeleteThey brag that their aging parents on visitors' visas in Canada work in blueberry farms making a couple thousand dollars a month, and collecting bottles for a couple hundred dollars every 2 weeks at the liqueur stores.
http://tinyurl.com/72zdwtv
http://preview.tinyurl.com/72zdwtv
... T A X
ReplyDelete... F R E E
frm the horse's mouth
ReplyDeletereasons for emigrating to Canada
1 kids education
2 fresh air & water
3 Canadian passport more travel friendly
4 global opportunities readily accessible
5 To claw back more for China than what was dispensed
6 change upon kids return to China
7 fear of not just for their wealth, but fear of revolution
http://tinyurl.com/83l4x3t