Saturday, 21 February 2015

Feb 1-20 Vancouver RE Snapshot


Feb 1-20 2015 vs 2014:


Sales: 2240 vs 1845 = +21% YoY  (was +38% YoY a week ago)

New Lists: 4065 vs 3493 = +16% YoY (was +17% YoY a week ago)

Sales/New List Ratio: 55% vs 53%

Total Inventory: 12669 vs 14197 = -11% YoY (was -12% YoY a week ago)

Projected Months-of-Inventory for Feb/15: 3.7-4.3 = Seller's Market

* This past week (Feb 16-20) saw continued increase in new listings, while #  of registered sales this week was the same as last year.



Saturday, 14 February 2015

Feb 1-13 Vancouver RE Snapshot

Feb 1-13 2015 vs 2014:


Sales: 1476 vs 1069 = +38% YoY *

New Lists: 2653 vs 2262 = +17% YoY

Total Inventory: 12254 vs 13959 = -12% YoY

Projected Months-of-Inventory for Feb/15: 3.5-4.5 = Seller's Market

*last 2 days had spike of sales.

Friday, 13 February 2015

"Seller takes big loss on Vancouver Olympic Village condo"

77 WALTER HARDWICK AVE., UNIT 404, VANCOUVER
ASKING PRICE $1,299,000
SELLING PRICE $1,225,000
Days on market Seven
Taxes $3,845
Maintenance fees $723.39
Listing agent Danny Chow, Rennie & Associates
Selling agent Bryan Yan, Regent Park Realty
The Action: The seller of this Olympic Village condo paid $1.565-million plus HST in 2010 – a loss of more than half a million dollars, according to selling agent Bryan Yan. “If they got in early, they got burnt,” he says.

Friday, 6 February 2015

Feb 1-6 Vancouver RE Snapshot

Feb 1-6 2015 vs 2014:


Sales: 743 vs 614 = +21% YoY

New Lists: 1423 vs 1242 = +15% YoY

Total Inventory: 11918 vs 13717 = -13% YoY

Friday, 30 January 2015

Jan 2015 Vancouver RE Sales Estimate

Jan 2015 (estimated): 

Sales: +7.5% YoY, +15% vs 10Y (2005-14)

New Lists: -13% YoY, +2% vs 10Y

Total Inventory: -13%

MOI: 5.8 vs 7.2 months (balanced/seller's market)

*MOI = Months of inventory

Sunday, 14 December 2014

Oliver says Ottawa exploring ‘steps’ for hot housing market as ministers meet

Oliver says Ottawa exploring ‘steps’ for hot housing market as ministers meet

Finance Minister Joe Oliver says the federal government could take “moderate steps” to address Canada’s strong housing market as he began two days of meetings on Sunday with his provincial counterparts.
The two-day gathering is also expected to reveal the latest figures on federal transfer payments to the provinces as well as explore the effect of plunging oil prices.
On his way to the first meeting, Oliver was also asked about Canada’s rising household debt and the country’s potentially overvalued housing market — two risks repeatedly raised by the Bank of Canada.
“In terms of household debt and the real-estate market, this is a subject, of course, we’re monitoring very carefully,” said Oliver, who reiterated his position that there is no housing bubble.
“So, we’re not going to take any dramatic steps in that regard, but we may take some moderate steps.”
Oliver did not elaborate and added his department had yet to make a decision on this subject.

Canada preparing to return property

China Daily: Canada preparing to return property


"Canada and China are ready to sign an agreement to return illegal assets seized from fugitives of economic crime, including corrupt officials, according to a senior Canadian diplomat.
Canada's Ambassador to China Guy Saint-Jacques told China Daily that the countries have made "good progress this year" in the fight against corruption.
Canada preparing to return property
The agreement "is ready to be signed on the return of property related to people who would have fled to Canada and would have been involved in corrupt activities," the ambassador said.
Once the agreement is signed, "it will serve as a model for other countries. I think on that front we should have good progress," he said.
Corrupt Chinese officials and smugglers seeking shelter in Canada have led to long-term controversy.
In mid November, Asia-Pacific Economic Cooperation member economies decided to set up a cross-border law enforcement network to strengthen transnational anti-corruption cooperation in the region.
Beijing and Ottawa have "good collaboration" and have returned more than 1,200 people in the past three years, including more than 60 who were sought in China for criminal reasons, according to the ambassador.
Beijing has made remarkable progress in repatriating fugitive officials and other economic criminals from destinations worldwide.
At least 428 Chinese suspects had been captured abroad by the end of October under Beijing's Fox Hunt 2014 operation."