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Full Version: VREB - 2013 Sales Data (Greater Victoria REB)
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The data in this post will cover all the months in 2013 to date, so there is quite a bit of information here.

In its monthly stats, the VREB includes single family waterfront sales in its ‘Greater Victoria’ and ‘Other Areas’ totals. As a result, the average price for single family homes sales is skewed upwards. Therefore, I have separated the data into two groups, SFH Non-waterfront sales and SFH Waterfront Sales. This meant I had to recalculate the averages prices for the Non-waterfront properties and that info is in the large table at the bottom of the image below along with the breakdown of the areas included in ‘Greater Victoria’ and ‘Other Areas’ and their total sales for each month of 2013.

The VREB also includes Condominium, Townhome and Manufactured Homes sales data for each month; however, should anyone need that info you will have to pursue it on your own.

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The table below gives total sales for each month and compares those sales to the same month in 2012 and 2011.

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Finally, here is a bit of colour to make the post interesting.

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Overall, it looks like sales within the VREB's jurisdiction are doing well this year. Where there might be change is with the sales price; unfortunately, I haven't the time to pursue 2012 and 2011 data for comparison.

I think the most dramatic drop in sales is occurring in the VIREB jurisdiction and I will be tackling that data next - once my brain heals. Big Grin

June 11, 2013 Update:

With sober second thought and a night's sleep behind me, I have come to the conclusion I should stick with just putting the data up and not trying to interpret it - sorry, I am new to this and I will be the first to admit I stink at math (and obviously statistics).

When I said in my closing remarks yesterday that sales look like their doing well this year, I was obviously looking at all the the green "+" percentage numbers on a month to month basis for 2013. However, in that very first table above that gives the 'Year-to-Date' figure for sales from January to June one can see that this year's sales are already 5% less than last year and if you go back to the historical sales data that I posted the other day the sales for 2012 hit nearly a 20 year low. So, at this pace, 2013 sales should be even worse. June 2013 sales may indicate the peak was reached in May so it will be interesting to watch how the rest of the year unfolds.
VREB June 2013 Data - Graphs

Here is the VREB data giving Total Active Listings and New Listings and Sales for June, 2013.

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These next graphs give the Average Selling Prices as of June, 2013. As I point out in my post above, the VREB includes Waterfront property sales when calcualting its Average Selling Prices which skews the average selling price upwards. In my post above, I seperated average selling prices into Non-waterfront and Waterfront which gives a truer picture and the average selling price for single family homes in the VREB region.

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VREB July 2013 Sales Stats:

Here are the Single Family Home (Non-Waterfront) July sales by area:

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These are the 2013 Sales by Month (Left to Right) for Non-Waterfront and Waterfront SFH and the Average Sale Prices by Month:

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Here are the July Sales Year-to-Year and Year-to-Date comparisons:

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Here are all the July 2013 VREB Graphs:

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VREB August 2013 Sales Stats:

Here are the Single Family Home (Non-Waterfront) August sales by area:

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So, here is how 2013 sales are shaping up for the VREB:

Jan - 153, Feb - 215 (+40.5%), Mar - 277 (+28.8%), Apr - 367 (+32.5%), May - 384 (+4.6%), June - 382 (-0.5%), July - 345 (-9.7%), Aug - 308 (-10.7%).

These are the 2013 Sales by Month (Left to Right) for Non-Waterfront and Waterfront and the Average Sale Prices:

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Here are the Year-over-Year and Year-to-Date comparisons:

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Finally, here are the VREB Listings, Sales, and Average Sale Price by Type Charts:

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September 2013 Sales Stats:

I would like to remind visitors viewing these stats of something I wrote in my first post:

Quote:In its monthly stats, the VREB includes single family waterfront sales in its ‘Greater Victoria’ and ‘Other Areas’ totals. As a result, the average price for single family homes sales is skewed upwards. Therefore, I have separated the data into two groups, SFH Non-waterfront sales and SFH Waterfront Sales.

In other words, the Board separates out ‘waterfront’ sales and lists them as a separate entity for ‘Greater Victoria’ and for ‘Other Areas’. In Greater Victoria, there were 12 waterfront properties sold for a combined Average Sales Price of $1,050,782. The inclusion of these properties gave an Average Sales Price for Greater Victoria Single Family Homes sales of $605,736; however, when I removed these WF properties the Average Sales Price dropped to $563,049. When I removed the ‘WF’ sales (7) from ‘Other Areas’, the Average Sale Price went from $439,663 to $369,019.

I think you will agree that these Average Sale Price differences are significant which is why the Board loves to include the waterfront properties in its calculations. So, I handle these properties separately and then bring them back into the overall total sales later.

Here, then, are the Single Family Home September sales by area, followed by the Total Sales Chart and the table showing Total 2013 Sales by Month.

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Next are the SFH Non-Waterfront and Waterfront sales by month. This month, I changed the placement order and applied a colour to make them easier to differentiate (green - non waterfront, blue - waterfront).

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Here is the Year-over-Year and Year-to-Date Sales and the bottom table combines the non-waterfront, waterfront for a Total Sales comparison. We can see that Total YTD sales are up +4% compared to the same period last year; however, if you go back and look at the 2013 Sales by Month table the VREB has now experienced 4 straight months of negative sales meaning the growth in sales compared to 2012 came in the first four months of 2013 and it has been a steady decline ever since. If this slide continues into October, then YTD sales may well turn negative compared to 2012.

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Finally, here are the VREB charts showing Active Listings, New Listings and Sales; as well as, Average Sale Prices for SFH, Condominiums and Townhomes.

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October 2013 Stats:

I downloaded the VREB October stats package yesterday, opened it up and muttered, “Oh, hell.” There are 18 pages and this month the VREB did move over to the MLS Home Price Index reporting method with its Benchmark Price and HPI Index Values. Unfortunately, I don’t have time right now to figure out how best to present this info, but I have put together what I could.

Here are the 2013 sales totals and once again the VREB is negative on a month-to-month basis for the fifth straight month.

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Here is the single family home (SFH) sales chart showing waterfront and non-waterfront totals since 2011.

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Next is the first big noticeable change with VREB stats this month - I can no longer show Average and Median Sale Prices for each area of the VREB in the table below. Also, with the former reporting method, I could separate waterfront and non-waterfront sales thereby giving a more realistic Average and Median Sales price figure - that ability is gone. It looks like waterfront and non-waterfront sales will be combined in the benchmark price figures, but as I mentioned above I really don’t have the time right now to figure out all the details - it’s been added to my ‘to-do’ list.

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Now, the VREB does offer the following table which I have reorganized completely in a way that I think makes more sense. I have also colour coded it which I hope makes it easier to follow. The important thing to remember is that the Average and Median Sale Prices are combining Waterfront and Non-Waterfront property sales - which in my opinion should not be done.

LM = Last Month
LY = Last Year

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I will add the VREB charts in another post.
Ques: Hey, were are the VREB stats updates????
Ans: Well, obviously not here...Big Grin

Sad to say, I no longer have the time to tackle the VREB's new big, fat Tongue monthly stats package.

Prior to its October switch to MLS Home Price Index reporting, the stats pkg was 3 pages and I augmented this data with two other 1 page chart releases.

In October, the monthly stat package jumped to 18 pages (2 pg press release + 16 pages of data). In November, the stats package jumped to 26 pages (2 pg press release + 24 pages of data). When I downloaded and opened the latter and saw how many pages Undecided, I closed it and have never looked at it again until today to verify the number of pages.

So, based on how many viewed the VREB stats vs the VIREB stats, I will let Greater Victoria fall to the wayside. However, if anyone has 1 or 2 days per month to spare and would like to tackle that package, please do so with my blessing. Angel

For those who would like to have their VREB fix, I recommend the 'House Hunt Victoria' blog.

I almost think the VREB has a secret agenda - to kill all interest in its monthly stats by overwhelming everyone with sheer volume of data. Dodgy