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SC Listings & Sales 2011-2013
10-01-2013, 12:30 PM, (This post was last modified: 10-03-2013, 09:32 AM by Skook.)
#19
RE: SC Listings & Sales 2011-2013
Sept 2013 SC Sales Stats:

I can hardly wait for the REBGV to release its September Stats Package and then to read the media reports that follow. Yep, they will be falling over each other as they hunt for superlatives to describe the numbers. It should be quite a show.

So, here is what happened on the Sunshine Coast. Right off the top, let’s get one fact out of the way - September 2013 sales were up 29.5% (+29.5%) from September 2012. Of course, this is what will be emphasized on the coast, at the board and in the media. We won’t hear that the increase was only 7.5% (+7.5%) from the month before (August, 2013). We also won’t hear that the Year-to-Date sales for 2013 (477) are down 6.1% (-6.1%) from Year-to-Date 2012 (508).

From what I have read, September was the last month that buyers could take advantage of any locked-in lower mortgage rates. So, all eyes will now be on what happens in October and the rest of the year.

[Image: attachment.php?aid=450]

Next are the sales by area info. Gibsons finally has something to cheer about as it led total sales (all types combined) on the SC for September. However, if you look at the Year-to-Date comparisons between 2013 and 2012, you will see that its sales still remain in negative territory as does Sechelt’s and Halfmoon Bay’s. Of course, Halfmoon Bay is tanking because $mill+ homes sales have all but disappeared. Despite the Roberts Creek positive YTD total, the area had no September sales.

The Single Detached Home sales tables are interesting. Look at the YTD 2013, 2012, and 2011 totals for Sechelt - there are all the same! What are the odds of that happening three years in a row? Amazing.

[Image: attachment.php?aid=451]

Next, we have the September Average Sale Price for Detached and Attached - up for one and down for the other. Of course, these figures are completely valueless as I mentioned in the previous month. This month’s detached average sales price is distorted because it includes a $1,625,000 single detached home sale in the Gibsons area in September. A more accurate sales figure to use would be the Median Sales Price which actually dropped compared to August (see below). However, I will look forward to seeing September’s Benchmark Price which I will post as soon as the REBGV releases its data.

I am also including a new table this month which shows the ‘Median Discount from Original Sales’ figures. Keep in mind, this is the ‘median’ percentage change from the original price, so we have no idea how high or how low the discounts were to help push up those September sales. You can bet there were some good discounts given.

[Image: attachment.php?aid=452]

I thought you might find the following interesting. For the last few months when I go to check the active listings, I have been applying a filter to see what has occurred over the previous day and the result gives me any new listings and price changes; and, price changes far outnumber the new listings. Here is what I saw today - there was only one new listing (a $mill+ plus home which I’m not showing- good luck to them, by the way) and all these price changes. Now, if sales were as fantastic as the September stats will be made out to be by the RE Boards and in the media, would I be seeing this? Remember, this is only one day!

[Image: attachment.php?aid=449]

Note: I post Sept sales data for $mill+ single detached homes separately in the thread ‘Sunshine Coast’s Million Dollar Babies’. I will add the Benchmark Prices as soon as it is available in a few days and the REBGV September charts in 10 days or so.

Update: Oops, I just noticed that Tranquility Island listing directly above was a price increase...LOL. Increases are rare, but they do happen. Well, we promise not to take it seriously because no one else will. Back again, I just went and checked the 2013 Assessment and at the new price increase the seller expects to be handed a +226% Asking Price Premium. In other words, the Assessment is less than a 1/3 the asking price. Go for it, maybe there is a greater fool out there. Oh, and did you notice it has been listed for 587 days. Yep, that price increase should really move that piece of rock now.

October 3, 2013 Update:

Here is the HPI and Benchmark Price info from the REBGV stats package; both figures rose in September. I think I might be getting a better idea of how these figures work - I say "might" and I will only know if I am on the right track when I can look at the REBGV September charts (available in a week or so).

In the meantime here is what Calgary Realtor, Mike Fotiou, posted on his blog today:

Quote:Remember, the HPI is for general price trends in each housing category while the Benchmark Price is just for the ‘typical’ home in that community...

I keep turning to him because he seems to be the only one regularly attempting to explain these statistical numbers.

[Image: attachment.php?aid=460]


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Messages In This Thread
SC Listings & Sales 2011-2013 - by Skook - 04-08-2013, 01:33 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 04-09-2013, 07:38 AM
RE: SC Listings & Sales 2011-2013 - by Skook - 04-12-2013, 04:13 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 05-01-2013, 04:22 PM
RE: SC Listings & Sales 2011-2013 - by susanu - 05-04-2013, 02:33 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 05-05-2013, 11:32 AM
RE: SC Listings & Sales 2011-2013 - by punnoval - 08-31-2013, 03:59 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 08-31-2013, 04:49 PM
RE: SC Listings & Sales 2011-2013 - by punnoval - 08-31-2013, 05:02 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 08-31-2013, 05:48 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 06-01-2013, 08:29 AM
RE: SC Listings & Sales 2011-2013 - by Skook - 06-13-2013, 11:27 AM
RE: SC Listings & Sales 2011-2013 - by Skook - 07-01-2013, 11:42 AM
RE: SC Listings & Sales 2011-2013 - by Skook - 07-20-2013, 12:58 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 08-01-2013, 09:12 AM
RE: SC Listings & Sales 2011-2013 - by Skook - 08-12-2013, 01:03 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 09-12-2013, 01:58 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 10-01-2013, 12:30 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 10-09-2013, 01:46 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 10-17-2013, 03:09 PM
RE: SC Listings & Sales 2011-2013 - by punnoval - 10-19-2013, 08:56 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 10-20-2013, 09:40 AM
RE: SC Listings & Sales 2011-2013 - by Skook - 10-20-2013, 10:56 AM
RE: SC Listings & Sales 2011-2013 - by Skook - 10-29-2013, 11:24 AM
RE: SC Listings & Sales 2011-2013 - by Skook - 11-01-2013, 04:31 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 11-16-2013, 06:14 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 11-25-2013, 01:37 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 11-29-2013, 01:09 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 12-03-2013, 07:16 AM
RE: SC Listings & Sales 2011-2013 - by Skook - 12-05-2013, 02:42 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 12-05-2013, 08:15 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 12-16-2013, 06:09 AM
RE: SC Listings & Sales 2011-2013 - by Skook - 12-21-2013, 07:48 AM
RE: SC Listings & Sales 2011-2013 - by Skook - 12-27-2013, 02:37 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 01-04-2014, 01:45 PM
RE: SC Listings & Sales 2011-2013 - by Skook - 01-07-2014, 10:52 AM

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