Sunday, November 25, 2007

There's always next year...

It's tough watching your team lose the big game. But hey, they were big-time underdogs, and did better than I expected. Thanks Bombers, for the run this year, and better luck next year!

Back to real estate. Tell me, if the market is so hot, as according to the VREB, are there ads in the TC like the following for developments that are complete or nearly complete. Shouldn't they be sold out?!?

Monday, November 19, 2007

Regional SFH Numbers

First of all, what a great couple of football games yesterday! Being from the prairies, I couldn't be happier! Winnipeg vs. Regina in the Grey Cup! Perhaps the CFL's greatest rivalry. Sunday's game should be a real barn-burner!

Back to real estate, following are graphs of sales numbers and median selling prices for Victoria, Saanich, Oak Bay, Esquimalt, and Langford. A picture is worth a thousand words, so that's all from me.



Oak Bay



Saturday, November 17, 2007

November 17 Week Ending Stats

It's been a couple weeks since I posted week ending stats (to be exact, October 27 was the last). Based on, here is what I've seen since then.

- There are 56 fewer SFH listed. The largest drop in listings is in the $400k to $500k price range (a drop of 22 listings - from 176 to 154)
- There are 20 more condos listed.
- There are 14 more townhomes listed.

Comparing the number of SFH listings this year to last year, even with the decreasing numbers, they don't appear to be dropping as fast. In fact, in the $500k to $600k range, the number of SFH listings has been flat since early August. However, last year on this weekend, there were 1073 SFH listed. Today, 884 listed. The market for SFH under $500k is still very tight.

On a side note, WOW!, unanimous decision on the CMHC. Mohican has started a new blog discussing dissolving the CMHC. Check it out.

Friday, November 9, 2007

Lest We Forget...

Thank a veteran this weekend for the sacrifice they made for our freedoms today. Have a great Remembrance Day Weekend!

Some superficial topics to consider
- Stats Canada New Housing Price Index
- CMHC housing starts for October
- City of Victoria's new downtown plans

Monday, November 5, 2007

CMHC Q4 Housing Market Outlook

I'm sorry to interrupt the ongoing commentary. I just wanted to point out that CMHC has released their 4th quarter housing market outlook for Victoria. You can read it here.

Highlights according to CMHC are:
- Victoria's housing industry robust, growth spurred by strong economy.
- Resale market sales to edge down, prices to rise slowly.
- New homebuilding will level off in 2008.
- New home prices to rise.
- Rental vacancies will remain low.

I think I've heard that all before.

Thursday, November 1, 2007

October Sales Numbers

VREB has released the October sales numbers. H/T to Roger for beating me to the punch for commentary and review. You can read it over at HHV.

Single family home sales and median prices over the past 3 years in Greater Victoria.

Condo sales and median sales prices.

Townhome sales and median sales prices.

Draw your own conclusions. I think it's started. Looks like a bearish month. I'm awarding a touchdown to the Bears. And wait! What's that? HHV's attempting a two point convert! The pass is up, ball's in the air... and... knocked down by the defender! Sorry HHV. I just couldn't do it. The score is now Bulls 26, Bears 19.