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VIREB - 2013 Sales Data (Vancouver Island REB)
07-15-2013, 06:57 PM, (This post was last modified: 07-18-2013, 08:10 AM by Skook.)
VIREB - 2013 Sales Data (Vancouver Island REB)
Here is the Vancouver Island Real Estate Board (VIREB) Sales Data for January - June 2013 so there is a good amount of information.

The six tables below look at Single Family Home (Unit) sales for all zones in the VIREB. The data comes from the VIREB Monthly Sales Summary for each month. According to the Summary, it should be noted that “the Board Totals figures also include: Zone 7-North Island, Zone 9-Out of Board Properties, and Zone 10-Islands figures which are not listed separately in this table.”

I have added to each Summary by calculating the percentage (%) change on a month-to-month basis for both ‘Unit Sales’ and the ‘Average Sale Price’, for example between January, 2013 and December, 2012 in the January table. I did this because I was curious to see if the ‘% Change’ for the ‘Average Sales Price’ would show any month-to-month decline. I was not expecting to see any month-to-month decline in ‘Unit Sales’ as sales generally improve going from winter into summer; but, this was not the case. Between January-May, ‘Unit Sales’ dropped for the Campbell River Zone three times month-to-month (January, March, May) and once for Nanaimo (May). However, in June, sales tanked for all zones and as a result, June Unit Sales were down 15% (-15%) overall from May - a dramatic drop. As for that ‘Average Sale Price’, it looks like the message is finally hitting home on the island and sellers are lowering their prices - there is a lot of red in those month-to-month % change figures.

[Image: attachment.php?aid=300]

The following table looks at VIREB 2013 sales for the region as a whole by type.

[Image: attachment.php?aid=290]

The next table looks at the region’s June 2013 sales data by type comparing it to June 2012, 2011 and 2010. As well, it gives the ‘Year-to-Date’ (YTD) data for the same time periods.

[Image: attachment.php?aid=296]

Time to give the eyes a rest - the following chart illustrates the number of new Single Family Homes (Units) listed each month as well as the overall ‘Total Active Listings’ for each month extending back to December, 2011.

[Image: attachment.php?aid=292]

I have a personal interest in vacant land sales and so I have put together a chart showing the number of lots currently listed in the VIREB region (note: waterfront lots are not included in VIREB Monthly Summary data). On the Sunshine Coast, vacant land sales peaked in 2004 and starting racing to the bottom from 2006 onwards and yet land continues to be cleared and more lots added to the ever increasing inventory. I hope to expand this VIREB data in the future to see if it parallels the SC. I have a feeling it will.

By the way, only 40 vacant lots sold in June throughout all the zones in the VIREB from a total listed inventory of 976 - a measly 4.1% and they keep cutting down the trees.

[Image: attachment.php?aid=293]

The VIREB doesn't make things easy at all and I have had to pull this info from a variety of reports. To be honest, it has my head spinning and this coupled with the fact I am not an ace at interpreting the numbers makes me reluctant to offer too many comments. Therefore, if anyone visting this post would like to offer their interpretation on what they see, it would be welcomed.

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VIREB - 2013 Sales Data (Vancouver Island REB) - by Skook - 07-15-2013, 06:57 PM

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