Saturday, January 31, 2009

2008 Poll Review

The little one is finally asleep for a Saturday morning nap. I thought I'd take a look at the old blog. Holy Crap! 215 comments, better write a new post.

First, from my SFH sales monitoring, it looks like January will have an average selling price of around $525000, with the median coming in around $475000. I'd estimate around 130 SFH sales for the month.

I've been meaning for the past month to review the poll I put out there at the beginning of 2008. Of course, it hasn't happened, till now. The results were posted in my January 9, 2008 blog.

At the beginning of 2008, 53% of you were pessimistic about 2008. It all depends on how you look at it. For me, it was a good year. How about for you?

73% thought that Victoria's average SFH selling price would be lower in 2008 than 2007. It wasn't. The average for 2007 was $565904. The average for 2008 was $585701.

52% thought that Canada would enter a recession in 2008. I believe that remains to be seen, as Stats Canada has not released numbers for December yet.

95% knew that the U.S. would enter a recession in 2008.

78% thought that the loonie would remain above par with the greenback. Nope.

13% of us were close to predicting how high oil would rise - $150. The final peak for the year was just over $147 (correct me if I'm wrong).

62% thought we'd go to the polls in 2008. We almost went twice!

92% believed the next U.S. president would be a democrat. How right they were.

January sales numbers come out in a couple days. They should be interesting. Have a great weekend.

Saturday, January 10, 2009

Holding their breath

I have a quick question (or two).

These days, how long can a developer hold on to the hope of selling their condo units for nearly the full price after a project has been completed?

How long is it, after a building is completed, yet not sold out, until a developer has a fire sale?

Here's a partial list of developments in Victoria that are completed, or near, and still have units for sale - Bayview, Chelsea, Dockside Green, Aria, Juliet, Redstone, Breakwater, Palladian, Pearl, Vicino, Gateway, Aspen, Tuscany, Centennial Walk, Richmond Gate, Julia, Madrona Creek, Carriage Pointe, Finlayson Reach, Reflections, Stonehaven, Goldstream Station, Strathmore, Tara, La Vie, and I've probably missed some.

Saturday, January 3, 2009

Happy New Year! 3 days late...

Happy New Year everyone. God bless, and we'll see what 2009 brings, right? I love roller coasters.

VREB has released the numbers for December. Slow sales, ever so small price increase in SFH and condos. The new VREB prez, Chris Markham, put the usual spin on the numbers. It may be just me, be he doesn't appear to be the eternal optimist that Tony Joe was.