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Vancouver Peak › Data and Statistics › Sunshine Coast Data v
Southern Gulfs - worm turning? Tipping Point?

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Southern Gulfs - worm turning? Tipping Point?
09-11-2014, 04:51 AM,
#3
JimmyWW Offline
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RE: Southern Gulfs - worm turning? Tipping Point?
Quick update from where I am looking:

- although inventory is down by 15%, sub-$600K segment now accounts for 31% of all listings, up from 25% when I first posted in the summer.
- sub-$800K segment now accounts for 27% of all listings, up from approx 20% in the summer.
- within these segments, some properties have been reduced by 15-20% and are still not selling despite my receiving verbal assurances from realtors that "an offer has been made, and that one will disappear within weeks", so...
- prices appear to be much more sticky at the top end, which suggests to me these are vacation properties/second homes which the owners don't have to sell.

BTW has anyone else on here noticed the phenomenon of shadow inventory? This definitely exists where I am looking. In other words either a) the property is not listed but is for sale by word of mouth outside the realtor market or b) the realtor carries "for sale" details on their website without a corresponding MLS listing.

Is there a requirement to list on MLS? Just curious... this seems to be a neat way, if correct, of making a market look healthier than it really is.

Your Eastern correspondent, hoping to return to BC one day -


JimmyWW
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RE: Southern Gulfs - worm turning? Tipping Point? - by JimmyWW - 09-11-2014, 04:51 AM

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