A ROMP ACROSS CANADA NUMBERS THE NUMBERS, THE NUMBERS – KELOWNA, SHUSWAP, VERNON CMHC RENTAL VACANCY: DRAMATIC INCREASES IN VACANCY IN SOME MARKETS VANCOUVER CONDO DVELOPERS DROPPING HOUSING STARTS BY 58%! HOT DEVELOPMENT PROPERTY - $110,000 A LOT HOT PROPERTY – RENOATOR SPECIAL TOWNHOUSE IN LADNER ODDITY: CONSTRUCTION STARTS ARE DOWN 58%!
1. Renovator special … make some money.
Ladner. Townhouse needs TLC. Last sale $490,000 … this one – do some reno … only $439,900.
Walk to primary and secondary schools, shopping, restaurants. 3 bdrm, 1 bath, 2 level townhouse, in-suite laundry, garage, private patio. Renovator special, priced to sell.
2. Build on a $108,300 lot
Osoyoos. Prestige Development Site Facing Osoyoos Lake. 6.375 acres. Ready to build on. Water, power, sewer, telephone line are available. Approved for 18 homes/36 duplexes. Price: $3.9 million. Immediate possession.
- Sales higher in Toronto (+18%) Calgary (+20%) and Edmonton
- Sales lower in Vancouver (-31%), Fraser Valley and Victoria (-17%)
- Toronto sales of 12,077 are more than Vancouver, Calgary and Edmonton, Victoria and Kelowna (10,751) together
- Average prices higher ALL CITIES, down in Vancouver
- Alberta jobs higher in March (highest percentage increase in Canada)
- SF homes and condo sales have decoupled in the Lower Mainland
Normal General rules
Sales higher, listings lower = prices higher later
Sales lower, listings higher = prices lower
NOW in Vancouver – THE NEW NORMAL:
Sales lower and listings lower … prices hanging in there
- Last March/April sales were at all-time highs. Likely, we are […]