The following warnings occurred:
Warning [2] Undefined variable $newpmmsg - Line: 24 - File: global.php(813) : eval()'d code PHP 8.1.27 (Linux)
File Line Function
/global.php(813) : eval()'d code 24 errorHandler->error
/global.php 813 eval
/showthread.php 24 require_once
Warning [2] Undefined array key "style" - Line: 874 - File: global.php PHP 8.1.27 (Linux)
File Line Function
/global.php 874 errorHandler->error
/showthread.php 24 require_once
Warning [2] Undefined property: MyLanguage::$lang_select_default - Line: 5014 - File: inc/functions.php PHP 8.1.27 (Linux)
File Line Function
/inc/functions.php 5014 errorHandler->error
/global.php 874 build_theme_select
/showthread.php 24 require_once
Warning [2] Undefined array key "additionalgroups" - Line: 6953 - File: inc/functions.php PHP 8.1.27 (Linux)
File Line Function
/inc/functions.php 6953 errorHandler->error
/inc/functions.php 5041 is_member
/global.php 874 build_theme_select
/showthread.php 24 require_once
Warning [2] Undefined property: MyLanguage::$bottomlinks_returncontent - Line: 6 - File: global.php(901) : eval()'d code PHP 8.1.27 (Linux)
File Line Function
/global.php(901) : eval()'d code 6 errorHandler->error
/global.php 901 eval
/showthread.php 24 require_once
Warning [2] Undefined array key "mybb" - Line: 1919 - File: inc/functions.php PHP 8.1.27 (Linux)
File Line Function
/inc/functions.php 1919 errorHandler->error
/inc/functions_indicators.php 41 my_set_array_cookie
/showthread.php 626 mark_thread_read
Warning [2] Trying to access array offset on value of type null - Line: 479 - File: inc/db_mysqli.php PHP 8.1.27 (Linux)
File Line Function
/inc/db_mysqli.php 479 errorHandler->error
/showthread.php 719 DB_MySQLi->fetch_field
Warning [2] Undefined property: MyLanguage::$ratings_update_error - Line: 5 - File: showthread.php(729) : eval()'d code PHP 8.1.27 (Linux)
File Line Function
/showthread.php(729) : eval()'d code 5 errorHandler->error
/showthread.php 729 eval
Warning [2] Undefined variable $postsdone - Line: 860 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 860 errorHandler->error
Warning [2] Trying to access array offset on value of type null - Line: 860 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 860 errorHandler->error
Warning [2] Undefined array key 6076 - Line: 860 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 860 errorHandler->error
Warning [2] Undefined array key 6097 - Line: 860 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 860 errorHandler->error
Warning [2] Undefined array key 6197 - Line: 860 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 860 errorHandler->error
Warning [2] Undefined array key 6199 - Line: 860 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 860 errorHandler->error
Warning [2] Undefined array key 6208 - Line: 860 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 860 errorHandler->error
Warning [2] Undefined array key 6271 - Line: 860 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 860 errorHandler->error
Warning [2] Undefined array key 6272 - Line: 860 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 860 errorHandler->error
Warning [2] Undefined array key 6273 - Line: 860 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 860 errorHandler->error
Warning [2] Undefined array key 6076 - Line: 1566 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 1566 errorHandler->error
/showthread.php 1568 buildtree
/showthread.php 872 buildtree
Warning [2] Undefined array key 6097 - Line: 1566 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 1566 errorHandler->error
/showthread.php 1568 buildtree
/showthread.php 872 buildtree
Warning [2] Undefined array key 6197 - Line: 1566 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 1566 errorHandler->error
/showthread.php 1568 buildtree
/showthread.php 872 buildtree
Warning [2] Undefined array key 6199 - Line: 1566 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 1566 errorHandler->error
/showthread.php 1568 buildtree
/showthread.php 872 buildtree
Warning [2] Undefined array key 6208 - Line: 1566 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 1566 errorHandler->error
/showthread.php 1568 buildtree
/showthread.php 872 buildtree
Warning [2] Undefined array key 6271 - Line: 1566 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 1566 errorHandler->error
/showthread.php 1568 buildtree
/showthread.php 872 buildtree
Warning [2] Undefined array key 6272 - Line: 1566 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 1566 errorHandler->error
/showthread.php 1568 buildtree
/showthread.php 872 buildtree
Warning [2] Undefined array key 6273 - Line: 1566 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 1566 errorHandler->error
/showthread.php 1568 buildtree
/showthread.php 872 buildtree
Warning [2] Undefined array key "additionalgroups" - Line: 6953 - File: inc/functions.php PHP 8.1.27 (Linux)
File Line Function
/inc/functions.php 6953 errorHandler->error
/inc/functions_user.php 733 is_member
/inc/functions_post.php 399 purgespammer_show
/showthread.php 873 build_postbit
Warning [2] Undefined array key "profilefield" - Line: 6 - File: inc/functions_post.php(467) : eval()'d code PHP 8.1.27 (Linux)
File Line Function
/inc/functions_post.php(467) : eval()'d code 6 errorHandler->error
/inc/functions_post.php 467 eval
/showthread.php 873 build_postbit
Warning [2] Undefined array key "showimages" - Line: 700 - File: inc/functions_post.php PHP 8.1.27 (Linux)
File Line Function
/inc/functions_post.php 700 errorHandler->error
/showthread.php 873 build_postbit
Warning [2] Undefined array key "showvideos" - Line: 705 - File: inc/functions_post.php PHP 8.1.27 (Linux)
File Line Function
/inc/functions_post.php 705 errorHandler->error
/showthread.php 873 build_postbit
Warning [2] Undefined array key "posttime" - Line: 9 - File: inc/functions_post.php(803) : eval()'d code PHP 8.1.27 (Linux)
File Line Function
/inc/functions_post.php(803) : eval()'d code 9 errorHandler->error
/inc/functions_post.php 803 eval
/showthread.php 873 build_postbit
Warning [2] Undefined array key "avatar_padding" - Line: 19 - File: inc/functions_post.php(803) : eval()'d code PHP 8.1.27 (Linux)
File Line Function
/inc/functions_post.php(803) : eval()'d code 19 errorHandler->error
/inc/functions_post.php 803 eval
/showthread.php 873 build_postbit
Warning [2] Undefined array key "rankpostbit" - Line: 31 - File: inc/functions_post.php(803) : eval()'d code PHP 8.1.27 (Linux)
File Line Function
/inc/functions_post.php(803) : eval()'d code 31 errorHandler->error
/inc/functions_post.php 803 eval
/showthread.php 873 build_postbit
Warning [2] Undefined array key "achivementspostbit" - Line: 31 - File: inc/functions_post.php(803) : eval()'d code PHP 8.1.27 (Linux)
File Line Function
/inc/functions_post.php(803) : eval()'d code 31 errorHandler->error
/inc/functions_post.php 803 eval
/showthread.php 873 build_postbit
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1161) : eval()'d code PHP 8.1.27 (Linux)
File Line Function
/showthread.php(1161) : eval()'d code 4 errorHandler->error
/showthread.php 1161 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1161) : eval()'d code PHP 8.1.27 (Linux)
File Line Function
/showthread.php(1161) : eval()'d code 4 errorHandler->error
/showthread.php 1161 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1161) : eval()'d code PHP 8.1.27 (Linux)
File Line Function
/showthread.php(1161) : eval()'d code 4 errorHandler->error
/showthread.php 1161 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1161) : eval()'d code PHP 8.1.27 (Linux)
File Line Function
/showthread.php(1161) : eval()'d code 4 errorHandler->error
/showthread.php 1161 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1161) : eval()'d code PHP 8.1.27 (Linux)
File Line Function
/showthread.php(1161) : eval()'d code 4 errorHandler->error
/showthread.php 1161 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1161) : eval()'d code PHP 8.1.27 (Linux)
File Line Function
/showthread.php(1161) : eval()'d code 4 errorHandler->error
/showthread.php 1161 eval
Warning [2] Undefined array key "invisible" - Line: 1497 - File: showthread.php PHP 8.1.27 (Linux)
File Line Function
/showthread.php 1497 errorHandler->error
Warning [2] Undefined variable $multipage - Line: 17 - File: showthread.php(1524) : eval()'d code PHP 8.1.27 (Linux)
File Line Function
/showthread.php(1524) : eval()'d code 17 errorHandler->error
/showthread.php 1524 eval
Warning [2] Undefined variable $multipage - Line: 51 - File: showthread.php(1524) : eval()'d code PHP 8.1.27 (Linux)
File Line Function
/showthread.php(1524) : eval()'d code 51 errorHandler->error
/showthread.php 1524 eval





Thread Rating:
  • 1 Vote(s) - 5 Average
  • 1
  • 2
  • 3
  • 4
  • 5
2014 VIREB Real Estate Stats
12-09-2014, 01:41 PM, (This post was last modified: 12-09-2014, 01:44 PM by Skook.)
#8
RE: 2014 VIREB Real Estate Stats
Every month the VIREB President or President-Elect offers his take on sales. Let’s take a look at those comments over the last four months...

August:
Quote:President Elect Jason Finlayson is encouraged by the strong summer showing.

“August 2014 sales remained strong in the Vancouver Island housing market area, continuing to reflect a balanced market,” notes Finlayson. “Most REALTORS® had busy summers, and we expect that trend to continue into the fall.”

September:
Quote:The numbers don’t surprise VIREB President Blair Herbert, who anticipates healthy sales activity to continue throughout the fall.

“September is traditionally busier for most real estate markets, and we don’t expect that to change in the coming months,” states Herbert. “Our REALTORS® are busy, and there is a lot of business in the works.” However, Herbert notes that the overall snapshot of market activity isn’t always an accurate picture of the motion occurring in a particular community.

“It can even vary by neighbourhood, which is why it’s important to contact a local REALTOR® for a better idea of what’s happening in your area,” says Herbert. “In strong sales markets, consulting a REALTOR® is vital to ensure that you have up-to-date information on house prices for your specific location.”

(Skook Note: Do you get the feeling more and more sellers on the island must be turning to the likes of the http://www.propertyguys.com to squeeze every last penny out of a sale. That’s the impression I get from then Prez’s remarks...LOL.)

October:
Quote:VIREB President Blair Herbert is encouraged by the numbers and reports that REALTORS® in the VIREB coverage area are consistently busy.

“October sales indicate that our market remains balanced,” says Herbert. “But as the year draws to a close, we’re seeing lower inventory levels and housing sales sitting at 15% higher than this time last year, which is beginning to place upward pressure on the market.”

November:
Quote:“There were no big surprises in November,” said VIREB President Blair Herbert. “The steady growth we’re seeing in the board area continues to reflect balanced market conditions, which has been a trend for some time now.”

VIREB Aug-Nov 2014 Sales Stats – Part 2

It’s time to zero in on the VIREB’s single family home sales and let’s be honest those are the only sales stats that everyone is “assumed” to be interested in. Yep, detached home sales – now the average Canadians’ favorite “must follow” pastime on a month-to-month basis as the “true and most trusted” indicator of how well our economy is doing. If those detached sales and their average sale prices are up, then we all can breathe a sigh of relief because the universe is unfolding as it should.

It’s been unfolding very well on Vancouver Island when we compare single family home (SFH) sales on a month-to-month basis in 2014 versus 2013. Yes, the past two months sales have moved into the red relative to preceding months, but that is to be expected – it’s that time of the year. However, the year-to-date unit sales are substantially up as we can see in the November YTD-YOY table in the Part 1 post:

Nov 2014 (4092) up +10% vs 2013 (3733); up +19% vs 2012 (3425); up +13% vs 2011 (3627); and, up +12% vs 2010 (12%).

As for sale prices, YTD the 2014 average SFH sale price sits at $343,110 compared to $328,105 in 2013. If the December average sales price continues at the same level, 2014 will set a new all-time high for the VIREB (See: ‘VIREB Average Sales Price (Single Family Unit) 1995 – 2012’ table in the post ‘VIREB - Historical Sales Data 1995 – 2012’)

[Image: attachment.php?aid=1022]

(Note: I have added the purple box shading in the tables above to highlight VIREB data corrections month-to-month.)

So, everybody should be happy with the Average SFH Sales Price on the rise, right? Well, maybe the celebration should be muted because you have to remember that everything gets thrown into the pot when it comes to the “average” sale price.

No, according to the Board, it’s the new MLS Home Price Index that best indicates “price trends in the market.” This is because...

Quote:Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings.

Compared to all other Canadian home price measures, the MLS® HPI identifies turning points sooner, is the most current, and is the most detailed and accurate gauge for Canadian home prices.

So, with that in mind, the picture isn’t quite so rosy. The HPI and Benchmark Price follow the exact same trajectory and look at all that red in the tables below that indicate negative percentage changes. The November 2014 data shows not only figures lower than the preceding month but lower than both Nov 2011 and Nov 2009. Oct 2014 was lower than both Oct 2011 and Oct 2009. Do we have a trend? Are both sales and prices falling?

[Image: attachment.php?aid=1023]

For fun, I took the 2014 Benchmark prices to date for all areas and calculated the average: $314,873 and did the same for Jan-Nov 2013: $309,327. It will be interesting to see how December pans out especially if oil prices continue to drop. The latter could be particularly significant for the VIREB market and I will be telling you why I think so at the end of these updates.

To be continued...


Attached Files Thumbnail(s)
       
Reply


Messages In This Thread
2014 VIREB Real Estate Stats - by Skook - 03-16-2014, 11:33 AM
RE: 2014 VIREB Real Estate Stats - by Skook - 04-11-2014, 04:59 PM
RE: 2014 VIREB Real Estate Stats - by Skook - 04-18-2014, 08:22 AM
RE: 2014 VIREB Real Estate Stats - by Skook - 08-10-2014, 11:04 AM
RE: 2014 VIREB Real Estate Stats - by Skook - 08-10-2014, 03:42 PM
RE: 2014 VIREB Real Estate Stats - by Skook - 08-22-2014, 12:16 PM
RE: 2014 VIREB Real Estate Stats - by Skook - 12-09-2014, 09:58 AM
RE: 2014 VIREB Real Estate Stats - by Skook - 12-09-2014, 01:41 PM
RE: 2014 VIREB Real Estate Stats - by Skook - 12-11-2014, 10:57 AM

Possibly Related Threads...
Thread Author Replies Views Last Post
  VIREB - 2013 Buyer Profile (Released Aug '14) Skook 0 7,876 09-05-2014, 11:03 AM
Last Post: Skook
  Van Island Real Estate: A Seller’s or Buyer’s Market? Skook 0 8,236 03-17-2014, 11:09 AM
Last Post: Skook
  VIREB - 2013 Real Estate Sales Summaries Skook 0 7,949 01-29-2014, 09:12 PM
Last Post: Skook
  VIREB - 2013 Sales Data (Vancouver Island REB) Skook 10 40,044 01-29-2014, 08:42 PM
Last Post: Skook
  VIREB - Buyer Profiles 2005 -2012 Skook 0 10,665 07-20-2013, 06:41 AM
Last Post: Skook
  VIREB - Historical Sales Data 1995 - 2012 Skook 1 12,638 07-18-2013, 07:59 AM
Last Post: Skook

Forum Jump:


Users browsing this thread: 2 Guest(s)

Contact Us | Vancouver Peak | Return to Top | | Lite (Archive) Mode | RSS Syndication