No bounce in the FV. MOI sits at a whopping 8.5.
9 per cent lower sales in June 2013 compared with last year
significantly below 10 and 20 year averages.
volume of active properties at 10,515 a decrease of 1 per cent compared to June 2012
As always the Fv benchmark has been the most sticky in coming down. Defying lower volume, lower averages etc and still hanging in there. It was no different this time
Fraser Valley was $552,200, an increase of 0.2 per cent compared to $551,000 during the same month last year. For townhouses, the benchmark price was $298,700, a decrease of 2.1 per cent compared to $305,000 in June 2012 and the benchmark price of apartments was $202,500, 0.8 per cent less than in June 2012 when it was $204,200.
I suspect the real benchmark or standardized median is a lot lower than last year.
The FV dam has sprung a little leak, but after a year+ of erosion the trickle will become a gush. As penned by the great Terry Pratchett - Interesting times.
ReplyDelete491 new
ReplyDelete274 price change
240 sold
7686 detached
9180 attached
Just when you thought this dog was beaten down...like yesterday..along comes another surge of buying
ReplyDelete409 new
206 price change
260 sold
7676 detached
9176 attached
The bear is back!
ReplyDelete392 new
219 price change
153 sold
7691 detached
9216 attached
Vancouver has become such a centre for the flow of HOT money that one has no idea what the real reason is for some Real Estate transactions. LOok at MLS # V1017219.
ReplyDeleteThis house was sold less than two months ago for $1,850,000.
The house has been relisted for $1,998,000.
$150,000 more in two months. With all the expenses the likely profit, even if sold near the list price is less than $100K.
Now one can never know for sure who the buyer was but from the current listing agent and the name I would deduce that HAM is up there. Why would someone do that? Very odd. In thew orld of Vancouver real estate nothing is straight forward.
Vancouver has become such a centre for the flow of HOT money that one has no idea what the real reason is for some Real Estate transactions. LOok at MLS # V1017219.
ReplyDeleteThis house was sold less than two months ago for $1,850,000.
The house has been relisted for $1,998,000.
$150,000 more in two months. With all the expenses the likely profit, even if sold near the list price is less than $100K.
Now one can never know for sure who the buyer was but from the current listing agent and the name I would deduce that HAM is up there. Why would someone do that? Very odd. In thew orld of Vancouver real estate nothing is straight forward.
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