Friday Numbers

Rob has left, but he’s asked me to post these numbers.  I’ll try to keep them up to date, provided I have time. 

There are 245 new listings and 172 sales, for sell/list 1.42%

Inventory is 11,787, while over 90s reached 2,635, or 4.47%.

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114 Comments

Filed under Daily Numbers, Uncategorized

114 responses to “Friday Numbers

  1. Rogie Vachon Yo!

    “There are 245 new listings and 172 sales, for sell/list 1.42%” – might want to chck the numbers on this one…

    Thanks!

  2. blueskies

    OT

    The Donald breaks wind on Toronto project

    http://tinyurl.com/243wfp

  3. Strataman

    Inventory increased by 10? What happened to all the weeks listings? Hard to believe there was several hundred expiry’s the last few days! Over 90’s percentage is ??.

  4. Anonymous

    Um Thursdays numbers? and 70% LS

  5. Anonymous

    What is this crap? Is this a joke? Is this suppossed to be Thursday’s numbers? Nice sell/list ratio.

    If you’re going to take the time to take over the posting, post it right.

  6. reknab

    I’m assuming these are Thurs numbers, as usually the current day’s listings aren’t out same day by 13:00….?

  7. coco

    Could just be Rob’s new secretary/receptionist posting, try to give who ever is posting a break. They just transposed the division.

    Thanks whoever you are for trying to post the numbers while Rob is away.

  8. Hypester

    From todays Peace Arch news. Finally an honest real estate reporter. Not too many of these in the lower mainland media where the gospel of up up up is spread.

    Oct 11 2007

    House prices fell in White Rock last month – bucking the trend across the Fraser Valley where increases are still breaking records.

    The average price of a single family detached home in White Rock dropped to $791,717 by Sept. 30, down 3.4 per cent from $819,249 the previous month.

    And the statistics show an even more marked decrease, down 4.9 per cent, in the same kind of property from a year ago.

    White Rock townhouse prices also took a beating last month, although to a lesser extent than its detached counterpart, with a decrease of 2.4 per cent, to an average $470,068.

    However, apartments surged by an incredible 13.6 per cent last month to an average of $350,930, up 5.7 per cent from a year ago.

  9. coco

    Hypester,

    Affordability walls are kicking in. Plus, the quarter point mortgage rate increases at the banks this week will add to the affordability factor.

  10. Annon

    Donald Trump is not too brilliant. He canceled his project in Florida earlier this year. I expect him to withdraw from this project in Toronto within a year.

  11. Unreal

    Be nice people! You are not paying for any of the services here, try to remember that.

    The poster is correct. He/She is giving you a listings to sales ratio.

    To Bob replacement: Thanks for your work.

  12. reknab

    To go along with the higher housing prices, the recent rate hike yes, will affect affordability. Within the last 10 months, the five year posted rate has increased close to 1%. To provide an example to the lessening affordabilty, on a qualifying income of say $80k for a $300k mortgage at 25 year amort., this would be a qualiying debt serivice ratio hit/increase of about 2-3%, that has to lower the purchasing power somewhat.

  13. WoW

    Thanks for the #s!!

  14. back to school?

    LOL looks like Rob’s shadow isn’t so good at math.

  15. WoW

    12,000 – when?
    13,000 – when?

  16. rentingsucks

    “The average price of a single family detached home in White Rock dropped to $791,717 by Sept. 30, down 3.4 per cent from $819,249 the previous month. ”

    Um why are homes in White Rock so expensive? Almost 1/2 of the 500 homes currently available are over 1 million dollars. It’s a brutal commute to Vancouver. Are there any decent jobs locally? Anybody know what’s up with that? It seems to me I did a search a year or two ago and there were buckloads of homes in the $300,000 to $400,000 range. Doesn’t this median rival that of Vancouver proper?

  17. Jeff

    wow… i thought White Rock was like Scarborough… more like $400k for a house.

  18. paulb

    I have heard its almost as expensive as North Van. This year it has taken a beating. Im not sure why? It is close to the USA. The wave must be coming up.

  19. The unthinkable"Renter"

    Die RE worshipers DIE!!

  20. The unthinkable"Renter"

    Just kidding guys, I don’t wan’t people to lose money nor do I want people to be priced out.

    We all have to accept whats comming in times of extremety.

  21. Mightymouse

    “Just kidding guys, I don’t wan’t people to lose money nor do I want people to be priced out.”

    Uhh… Whatever… Die RE worshipers DIE!!

  22. The unthinkable"Renter"

    Ya i agree with mighty 😛

  23. The unthinkable"Renter"

    Die pig die!

  24. Jeff

    yes…. the greedy pigs can make their own decisions.

  25. /dev/null

    Jeez. Rob goes on vacation and the kids throw a house-wrecker…

  26. Baba

    I’ve been watching this site for about a year now, silently in the background. I’m forced to post now just to say that the level of comment has deteriorated recently. This is free for god sake. The guy/girl posting is doing the best they can. If you don’t like it go somewhere else. Discovervancouver.com would love you, and that it not supposed to be a complement

  27. Priced Out

    I also want to say thanks for this free service. Let’s all try to be civil.

  28. Anonymous

    Personally, I enjoy this blog most when the bulls and bears are insulting each other at every opportunity (even if done poorly). It’s entertainment. If it gets too civil it’s just boring. Of course, I prefer witty insults to lowbrow, but I’ll take what I can get.

  29. sidelines

    Many thanks for the numbers. Please keep them coming. Pay no mind to ingrates who complain about things free.

  30. Some of you folks are really mean .. like do your own math .. or better still .. check out MY web site .. btw .. how did you like my strike?

  31. coco

    Rob can tell where your posting from, even if you think your doing it anonymously or under another blogger name. There is no such thing as anonymity on this blog. Rob can block you from posting if he chooses too.

  32. coco

    Friend of mine had a blog and problems with a couple bloggers. He hunted them down, one through their proxy service and the other through their IP. They were pretty shocked he found them.

  33. The unthinkable"Renter"

    Dear Sam Sullivan,

    . Strike?

    I think when polititions would like a raise they should make it the publics choice in a vote not their own.

    Shame on you or should I say shameless.

  34. The unthinkable"Renter"

    Polititions are so detatched from the average family income of $57k.

    Campbell? oh ya sell the Fast Cats for pennies and the majority population blames the NDP. We could of got allot more for just the scrap. What about all those welders that were trained and now experienced/skilled? They are now using those skills/experience in the 2010 construction.

  35. paulb

    I guess the Fraser Valley will start to show the cracks first

  36. The unthinkable"Renter"

    SATV would say CRACK? What kind of crack, only sold in downtown east side and surrey. Crack when sold for money can make mortgage payment then house worth more.

  37. ceejay

    Unreal and Rob’s helper, the convention for sell/list is #of sales/#of new listings x 100…then add a % sign after the number,
    which gives you the format Rob’s been using.

    So, if I were a savvy US investor, I would be buying Vancouver rental properties today…looks like built in appreciation and built-in rent increases in my home currency from the exchange rate alone. No opportunities for the locals. Buy in the US and watch your posessions depreciate in CAD, and who can afford to buy here?

  38. david

    http://online.wsj.com/article/SB119205925519455321.html?mod=fpa_mostpop

    more sub-prime news, and no sorry Rob it isn’t suggesting that the credit crunch is over. I know you feel more stories along those lines would be coming out.

    down thar in amerika it seems they are just getting into the groove.

    ka-boom

    and yes I’m still listening =)

  39. david

    http://online.wsj.com/article/SB119221840415557568.html?mod=googlenews_wsj

    another wall street article. the more one looks the deeper the problem, like rust on a car.

    yikes!

  40. News Flash

    “Campbell? oh ya sell the Fast Cats for pennies and the majority population blames the NDP.”

    Blame the NDP? How dare someone blame them for the fast cats. They had nothing to do with it. It was those welders who built the things.

    “We could of got allot more for just the scrap.”

    Then why didn’t you buy them and sell the scap for a big profit? They were sold to the highest bidder. They are still sitting idle in Vancouver Ship Yards rotting away. The ships are of such poor design and workmanship these boats are virtually useless.

    “What about all those welders that were trained and now experienced/skilled? They are now using those skills/experience in the 2010 construction.”

    At least we will know who to blame if the Olympics flop – the welders. We can’t possibly blame the government that oversees it all.

  41. david

    why buy the fast cats

    did you try?

    I did, one had to post $2million bond in order to enter the bidding. I fell short, was a good game, great spin, and the spin continues

  42. blueskies

    credit crunch in Canada:

    http://tinyurl.com/34c88e

    sloooooowly working through this mess
    no really good news but they are trying….

  43. Anonymous

    “I contacted a VOW realtor and mentioned how the “NEW!” listings do not indicate the dates they are first listed and how long it takes for inevitable price reductions…”

    At least you get to see the new listings…….when I looked at it, the newest listing is Sep 27th….seems like the website is not being updated……anyone else have this problem?

  44. Snick

    Get daily updates and other info by logging onto Marie Timmerman’s or Keith Vine’s site..

    They are terrific sources of info.

  45. The unthinkable"Renter"

    Newsflash said:

    “Then why didn’t you buy them and sell the scap for a big profit? They were sold to the highest bidder. They are still sitting idle in Vancouver Ship Yards rotting away. ”

    The fact is that the government could of bought them and scrapped them. After all they could of created further employment and salvaged more than they were sold for.

    Newsflash:”The ships are of such poor design and workmanship these boats are virtually useless.”

    Newsflash your commenting to somebody who actually was involved in the construction of the fast cats. I agree the design was the flaw that created the strong wake which was not kind to the shoreline environment.

    The welders though did make some mistakes but they made good on them from what I have heard.

    BTW, the welders won’t cause a problem with Vancouvers construction.
    I am watching to see the leaky condo problem arising all over agian because of the wet Pacific Northwest, poor design and lack of skilled labour!!!

  46. News Flash

    UTR : “your commenting to somebody who actually was involved in the construction of the fast cats.”

    You must be proud.

  47. News Flash

    I notice on the news the Brio high rise in Abbotsford sales were launched today. 50% sold today.

    They interviewed a few buyers. One guy bought a one bedroom on the 6th floor for 305K and said they gave him a deal. The 3 penthouses all sold for over a million each.

    Did someone say the market is tanking?

  48. The Unthinkable Renter,when u say”Satv”

    However, Apartments surged by an incredible 13.6 per cent last month to an average of $350,930, up 5.7 per cent from a year ago.

    White Rock Apartment
    Sept.$350,930 Aug.308,966 +13.6 mom thats $41,964 compare to drop thats lots of up .Hey guys money is still there to beleive the up or down we need to wait and watch till next year too early to make out anything ,so far its still[Beautiful British Columbia]on the number plates.

    Inventory is 11,787, while over 90s reached 2,635, or 4.47 thats in the number plate area,but where beautywalkonramp textas of October 10 ,2007
    East Vancouver 1044 -Vancouver West 1886
    West Vancouver 459-North Vancouver 549 and total =3938 rest of inventory are F.O.D. for Vancouver

  49. ObserverX

    Anonymous: Re: VOW problems. I’m having the same problems.

  50. sorry guys there was liveability index in the link vancouver @1.3% .thanks

  51. Jeff

    satv… i can’t understand anything you say.

  52. The unthinkable"Renter"

    snick, are you sticking up for me???

  53. jeff,
    listing for vancouver is as following.
    East Vancouver 1044 -Vancouver West 1886
    West Vancouver 459-North Vancouver 549 and total =3938

    rest of inventory are F.O.D. for Vancouver.f.o.d.(foreign object debris)not really concern with with vancouver.

  54. Jeff

    satv, what is your point? do you have one?

  55. disbelief

    #

    I notice on the news the Brio high rise in Abbotsford sales were launched today. 50% sold today.

    They interviewed a few buyers. One guy bought a one bedroom on the 6th floor for 305K and said they gave him a deal. The 3 penthouses all sold for over a million each.

    Did someone say the market is tanking?
    Just because a few morons bought into a middle of nowhere of the beaten track bible thumping hole. I should know I lived there for 3 years and I will never live there again. I would be shocked if there are any gains in those over priced buildings in the next 5 years. It now justifies for me how insane this market is and where it is going from here. Smart money is in GIC’s and Gold… Anything but RE. A fool and their money soon part… This is a great example.

  56. Jeff

    i am a bit skeptical. i can imagine a 20 or 30% correction in condos and possibly up to 40% in Westside houses. but can someone tell me how the more needed overall 40-50% correction will unfold?

  57. SATV IS A FOOLISH REALTOR

    Unreal
    October 12th, 2007 at 3:35 pm
    Be nice people! You are not paying for any of the services here, try to remember that.

    It’s free, because that is what it is worth….
    nothing.

  58. Priced Out

    We’ve talked about Brio here before, that’s how hyped it is. Its been all over the news more than once. Is it that great that 50% sold considering everybody from Squamish to Hope knows about it by now?

    The reason we were talk about Brio before was because they are putting a rush on it. Construction quality is already of dubious quality these days, and now this developer will hire any crack-smoking fool who can swing a hammer and treat them like royalty at the same time.

    I see tarps in a few years, and some bankrupt hicks.

    Jeff, just watch Florida.

  59. TI

    Jeff
    Demand side : The growth of GV population is low.
    Supply side: There are tons of building projects (completed or under construction) in recent years. The supply is relatively high.

    Besides,buyers mortgage more on growing interest rate than couple years ago.

    I am not surprised in 50% correction.

  60. The unthinkable"Renter"

    Jeff, with the introduction of 40 year ammortization you will more than likely not see a correction of more than 30%.

    Unless they remove the recent inroduction s of products that make aquiring homes so easy or make payments so low there won’t be drastic (50+%) change. Sorry I would like to see 2003 numbers as well :).

  61. Snick

    “…with the introduction of 40 year ammortization you will more than likely not see a correction of more than 30%.”

    They may not be as popular as some might suppose.

    Ask yourself this, “Would YOU take out a 40 year mortgage?”

  62. disbelief

    The mindset of the general public is the narrowmindness of thinking like a millionaire and as such are buying a second or third home at these prices. They will certainly be a major drop to likes of which we have never seen. People in general have never been so in debted. They have this notion that they can do no wrong when buying RE. Remember cash is King and that is a fact!!!! All it is going to take is one little push a major economic slowdown or interest rate hike something will happen and then crash boom bam.

  63. TI

    40 year mortgage is a poisonous candy.
    Most of payment goes to interest not principal.

    If you are 30 years old now, you must carry this debt till 70 years old.

    Can you guarantee your job in next 40 years?

  64. The unthinkable"Renter"

    Guys go on MLS mortgage calclator and play with the numbers. Mortgage $300k then play with the ammortization and interest rates. You’ll see that the differences are around $300 dollars a month from going from 25 year to 40 year ammortization.

    What I am saying is that those who are locked in with 25 year ammortization and an average ammort of 25 have an option to go 40 year ammort if the rates go up. I took the rates to 8% and looked at the extra cost!!! I didn’t find it that big a difference where things would be totally unsustainable. I mean , like the mainlanders from China I could turn my house into a rooming house if I had too.

  65. The unthinkable"Renter"

    Sorry i ended my last comment in some sarcasm, I would not turn my home into a rooming house!

  66. Annon

    If a free market is really left alone free, things might turn out a little different. Housing indeed is one thing that government does have responsibilities in its up and downs.

    http://www.financialsense.com/fsu/editorials/2007/0420.html

  67. coco

    Banks plan fund to revive market

    The US sub-prime mortgage sector has seen record defaults. Some of the US’s largest banks have announced plans to form a $75bn fund to support the ailing market for sub-prime debt.

    http://tinyurl.com/255ccd

    (Otherwise known as repackaging what was already repackaged to begin with)

  68. coco

    Canadian dollar hits $1.03 on rumours of interest rate hike by BOC.

    (wouldn’t that be a new twist if that happened)

  69. coco

    Oil hit over $85 on supply fears before winter, record lows for the U.S. dollar and increasing tension between Turkey & Iraq.

  70. coco

    Coming soon…Canadian banks will report earnings with subprime write downs.

  71. SATV IS A FOOLISH REALTOR
    October 14th, 2007 at 11:41 am
    Unreal:yes Unreal

    Satv is a bottom line guy ,he beleive in working hard,his attempt was to buy before the richi rich control the wealth ,and sell us later on high price,why don’t we poor bears do that?????.

    He beleives that some people start campaign for bubble,and impaired lots of us at the time when that was the best time.he took VHB accountable for that.
    Then “JEFF” a run away realtor from toronto ontario to run campaign about fall without logic.
    Satv is a first person in bloging history who define what is “bubble”?.
    Satv is also the first person who eleminate the “bubble” from Vancouver.not because he is a realtor,but because he think that instead of some one take us on foolish drive,why don’t be find the truth then proceed further atleast no body will call us foolish bear then we can put perfect thought in thread.

    bubble elemination

    what is bubble thanks post satv

  72. Priced Out

    VOW is basically useless now. Might as well use the regular MLS. I guess they don’t want people to be too informed.

  73. Anonymous

    satv/dramapart2 same person

  74. Jeff

    Read this… The Grandich Letter… this guy was just on BNN.

    “What I’m about to write about is not pretty. In fact, it’s downright scary.”

    http://news.goldseek.com/Grandich/1192464000.php

  75. Ymir

    Did you guys hear about “Mc Pherson’s Walk, a most anticipated Burnaby neighbourhood”?
    It’s a complex of some 350 units close to where I live. Three bedroom townhouse of approximately 1200sqf will cost you at least $520K plus gst. Not exactly cheap.
    Now, when I went there to take a look on Saturday (well into the day) the place was a Zoo… I asked couple of questions about this and that, but my main concern was this: the townhouse floor plans were showing a lower level to be containing a tandem garage with a garage door and a separate ground level entrance.
    However on the site plan/ scale model there were no garage entries/driveways anywhere in sight.
    So I asked the “RE specialist” who was assigned to help me with my “buying experience” how this worked and she said she didn’t know. After making some inquiries it turned out that the entrance to your “own” garage is through the common underground parking. IMO, that sucks.
    But that’s not even the point.
    When I asked the agent about it and she answered “I don’t know” I was surprised that nobody would actually ask that question before… as she admitted I was the first one to question the layout of the unit… But it didn’t really matter as they were “mostly sold out” anyway.
    I mean people are dropping $600k for a 1100sqf future leaky condo in the middle of semi-industrial wasteland and don’t even ask any basic questions?
    Wow!
    Not that they spoke any english to begin with (buyers that is) Maybe it was just a language barrier. Sheesh. What a joke.

  76. Priced Out

    I guess “a fool and his money shall soon be parted” can be translated into any language. Anyone buying right now deserves what’s coming to them.

  77. coco

    BOC injects money into the system for 12 days straight now.

  78. /dev/null

    coco, you really should start your own blog. (I’m being serious.)

  79. coco

    /dev/null,

    Thanks. I really don’t have extra time to maintain a blog of my own currently.

  80. The unthinkable"Renter"

    Die pigs
    die!!!

  81. coco

    BOC leaves rate unchanged.

    BOC watching inflation and is aware of the effects of a higher Canadian dollar dragging down manufacturing.

  82. coco

    Oil passed $87 today, another record.

    (will we see $100 as some analysts predicted in the past)

  83. coco

    Demand for luxury homes through roof
    123 houses sell for more than $3 million in Vancouver area alone

    http://tinyurl.com/39zd24

  84. coco

    Stock market doesn’t like high oil.

  85. coco

    Official BOC statement on interest rates

    http://tinyurl.com/yw8jyk

  86. coco

    U.S. Bank bailout plan doesn’t solve underlying problem

    http://tinyurl.com/39e5tl

  87. blueskies

    The Bank of Canada is holding its key interest rate steady at 4.5 per cent, because tighter credit conditions and a strong currency are sucking the steam out of the hot Canadian economy.

    http://tinyurl.com/2drepx

    from the Globe’nMail

  88. WoW

    The #’s se vous plait.

  89. coco

    If the Montreal Accord/U.S. bank bailout fails over time, then you will have a credit crunch and a half.

  90. coco

    Wow,

    The person posting the numbers while Rob is away might of gone on strike after reading some of those comments. As they say, never bit the hand that feeds you.

  91. coco

    That s/b bite, not bit.

  92. blueskies

    i know! let’s make up our own numbers!

    ok here’s mine ….. 7

  93. coco

    UK 60% of mortgages for people aged 25 – 34 are being turned down due to credit crunch problems.

  94. coco

    Canadian retailers to lower prices for Christmas shopping to slow cross border shopping.

  95. Ymir

    coco said:
    “Canadian retailers to lower prices for Christmas shopping to slow cross border shopping.”

    I sure hope so. I was just looking to get an exhaust for my scooter and if I get it locally I’d be paying $279.99+$24.00 shipping (the place is in Langley, but they don’t offer pickup) +13%tax.
    Exactly same part across the border is $159+$30 shipping. Crazy.

  96. coco

    Looks like those mortgage rate increases prior to the BOC announcement are sticking. Credit unions and others followed suit with rate increases of their own.

    Banks are all about profit, subprime losses, commercial paper rollover problems, credit crunch problems,etc. will hit the consumer with higher fees, higher mortgage rates, etc.

  97. blueskies

    http://tinyurl.com/2wg2m7

    from financial week:

    Mortgage bankers see tough times continuing for residential markets

    US info

  98. coco

    paulb,

    Link for mortgage rate increases? Was on Thursday’s thread, here it is again if you missed it.
    http://tinyurl.com/2sdwy5

  99. coco

    Bank of Montreal sponsored fourth biggest SIV

    http://tinyurl.com/289yef

  100. coco

    U.S. bank bailout similiar to Montreal accord

    http://tinyurl.com/2qs7vj

  101. coco

    RBC pioneers projected $95-billion Canadian covered bond market

    http://tinyurl.com/2oudln

  102. coco

    BMO mulls joining U.S. bailout rescue plan

    http://tinyurl.com/34utye

  103. blueskies

    http://tinyurl.com/2e229k

    from the Globe’nMail

    So if you’re looking for a counterview to all the rosy, recession-free forecasts out there, here’s a contrarian view. House prices have only begun a much longer slide. And consumers may be about to take it on the chin, dragging the world’s most powerful economy near, or into, recession.

    Thankfully, Canada can still sell the United States its oil and gas.

    Americans won’t need much of all the other stuff we sell them if a recession is coming.

  104. coco

    I always find it interesting how banks play with your money and call it theirs.

  105. coco

    US Oct home builder sentiment down to new low-NAHB

    http://tinyurl.com/ytrtfc

  106. Grin and Bear It

    Blueskies, good post from the G&M. The local RE market continues to decline but people are still buying. I think I am going to take pleasure in the carnage when mortgage rates increase and the people have to sell. 🙂

  107. /dev/null

    Coco said: Got cash?

    Yes. But I asked BMO to hold it for me. So, maybe no.

  108. blueskies

    http://tinyurl.com/3c4ga4

    from the Globe’nMail

    Overall sales activity in Canada slipped by 4.1 per cent from the previous quarter, which had the highest level of sales activity CREA has on record. Sales slipped in the latter part of the quarter, down in September from August in the country’s four largest markets, Vancouver, Calgary, Toronto and Montreal.

    mining for good news… getting hard to find

  109. blueskies

    http://tinyurl.com/2ew82n

    from Bloomberg

    this is just too easy…….

    the sky is falling check out this link 🙂

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