Downtown Vancouver: If listings were buildings

If listings were floors in a building Spectrum would be the tallest building in Downtown Vancouver. This infographic shows an imaginary skyline based on number of units for sale in a few of the new buildings downtown based on Supersogs post from Monday.

Lots of properties out there for sale, not just in the downtown core.  Listings for the entire REBGV region have been accelerating lately a lot faster than they did in previous spring markets.  We’re close to adding 1000 new listings a week.  Even the spring before the 2009 market dip didn’t see listing rise this fast.  As of last night the inventory count was at 16,741.

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Nero
Guest
Nero

@tomvu:

That's funny. Simple technical analysis first points to a double top in prices.

How can there be a base at $1mm? Prices just got there. The 1990s were basing.

By any technical measure the market is way overbought. Then you add the fundamentals……..and the conclusive result is SELL or SELL SHORT.

shikko
Member
tomvu Says: (post 94) April 27th, 2010 at 10:55 pm What we’re seeing is clearly a hockey stick formation with major support at the million dollar level. A 1 million dollar base is now established according to my charts. I spent hours on technical analysis of this market and there’s no way it’s going down bears. What we’ll see in the coming weeks as more and more supply comes on the scene more and more buyers will buy. It’s like chumming shark infested waters bears. Once a shark smells the chum it bites. Hey, didn't someone used to run a RE prediction tracker? This is a prime candidate for inclusion, especially since it's backed up by words like "clearly" and "there's no way it's going down". That way, interested parties can point to this prediction as an indicator of your… Read more »
"A-Sharp" Accountant
Member
"A-Sharp" Accountant

…in a smokey and dim piano bar, a new condo owner eases up beside the "condo king" for a word of encouragement.

So sing me a song you're the strata man

Cause I'm near insolvent tonight

I was bold…now I'm broke

With this negative cash flow

Just tell me everything's gonna be alrignt.

…oh na na na na…

Anonymous
Guest
Anonymous

@granite countertop: Luxury is a funny thing, when it becomes commonplace it's no longer a luxury. It used to be that owning a car was a luxury, now someone who works at an entry level job can have one. I suspect granite countertops are no longer the luxury draw many people hoped they would be.

paulb
Member

@Inventory:

wow what a shocking rise!

buff_butler
Guest
buff_butler

@Animal Spirit: chicks dig 120Mb spreadsheets

hmmhmm
Guest
hmmhmm

@Inventory:

Apr 19, 2010 = 16,088 **

Apr 20, 2010 = 16,305

Apr 21, 2010 = 16,340

Apr 22, 2010 = 16,496

Apr 23, 2010 = 16,579

Apr 26, 2010 = 16,741

Apr 27, 2010 = 16,846

Apr 28, 2010 = 17???

RIP 16K…we hardly knew you

Vic
Guest
Vic

http://www.cbc.ca/canada/british-columbia/story/2

Olympic Oval Development — to be completed in 2013. I wonder if this development will be just a big deep crater if Vancouver real estate crashes late this year.

Inventory
Guest
Inventory
Mar 1, 2010 = 12255 Mar 2, 2010 = 12324 Mar 3, 2010 = 12459 Mar 4, 2010 = 12670 Mar 5, 2010 = 12775 Mar 8, 2010 = 13019 ** Mar 9, 2010 = 13244 Mar 10, 2010 = 13439 Mar 11, 2010 = 13551 Mar 12, 2010 = 13609 Mar 15, 2010 = 13755 Mar 16, 2010 = 13779 Mar 17, 2010 = 13870 Mar 18, 2010 = 14042 ** Mar 19, 2010 = 14103 Mar 22,2010 = 14258 Mar 23, 2010 = 14312 Mar 24, 2010 = 14322 Mar 25, 2010 = 14446 Mar 26, 2010 = 14558 Mar 29, 2010 = 14635 Mar 30, 2010 = 14721 Mar 31, 2010 = 14679 Apr 1, 2010 = 14,667 Apr 6, 2010 = 14,832 Apr 7, 2010 = 14,915 Apr 8, 2010 = 15,221 ** Apr 9, 2010… Read more »
hmmhmm
Guest
hmmhmm

@Inventory:

oh boy! I better get to bed now so I'm well rested for tomorrow.

IT'S PARTY TIME!!

Inventory
Guest
Inventory

***UPDATE***UPDATE***11:06pm

16,846

granite countertop
Member
granite countertop
@girlbear: From the chinese bubble article, I especially liked the line: "The problem is the housing they're building is not the housing they need. They're building luxury high rises the masses can't afford." I was looking for a place for rent last summer, camped out on Craigslist. The places that were (relatively) reasonably priced got rented pretty quickly, maybe relisted a couple times. The places that were recently built developments tended to emphasize Granite Countertops, as if that was some sort of substitute for their tiny size and overpriced rent, and tended to stay up, being reposted for weeks. I came to the conclusion that there is far more luxury RE stock in this region than we'll ever need, that most people renting these units did so because they couldn't find what they wanted, had to settle for the higher… Read more »
realpaul
Guest
realpaul

#94 TV, If I had a nickel for every broken hockey stick I've seen on the floor of a market I'd been even better off than I already am. There is NO WAY to determine support from the visual analysis of a parabolic market. Tell the guys who bought NORTEL on the way down when floors fell through like rotten plaster. The suckers kept puking up cash then too. What 'major support' are you referring to, last weeks tally, two weeks, one street, seven blocks, 2001?…..what? Listen kid, I got two words for your your future as a financial analyst, "Mutual Funds".

tomvu
Guest
tomvu

What we're seeing is clearly a hockey stick formation with major support at the million dollar level. A 1 million dollar base is now established according to my charts. I spent hours on technical analysis of this market and there's no way it's going down bears. What we'll see in the coming weeks as more and more supply comes on the scene more and more buyers will buy. It's like chumming shark infested waters bears. Once a shark smells the chum it bites.

Kite towards moon
Guest
Kite towards moon

Aha Spectrum buddy direct access to Sky Train,Gm Place,and Costco.You don't need to look for parking don't have to drive through heavy traffic.Just shop or watch games and get back to swimingpool,24hour concierge service.

Whoa TV TOWERS beautiful luxury at cheap prices.Right in the middle of all the action.All the sports personalities live in these tower 1 and 2 beautiful peoples at Huge party room housefull every weekend,Beautiful girls in the suana,zaquzi,smart families in hollywood style theater.Smart people in yoga room and double excercise room double double shower room.If there is any piece of life in this world that is downtown, the best place for all the actions.VPL add more charms to the free or valuable time.

Stu
Guest
Stu

Listen crew, Stu likes Geezer and some of the photo jokes over at RET. Some smart gabronies over there, a lot of the kids on this blog are just poor. What happened to Condohype, did he buy into Woodwards? Any way, Stu predicts the Agricultural Reserve and the Indians won't release any more land, and the Canucks and Blackhawks will be a slobberknocker.

Summer
Guest
Summer

@vreaa #79

“We foresee a marked weakening in housing” – Mark Carney, BOC

And that comment was made with regards to the housing market of Canada. Imagine what it means for super frothy Vancouver…

Tony Danza
Member
Tony Danza

@painted turtle:

Bossy and unpleasant girls often = insane in bed, maybe not a great reason to get hitched but something must have been good about her. That said, the 35 year mortgage is a bit harder to divorce yourself from…

Animal Spirit
Member
Animal Spirit

"“Hmmm. 17K divided by 2500 sales gives MOI of . . .”

Stop right there buddy! a little knowledge is dangerous.

Let’s leave these types of complex calculations for the

professionals at MLS, with the assistance of a fully qualified mortgage broker who has studied calculatorolgy under the tutelage of perhaps Aaron, or Maggie"

6.8… damn, I couldn't stop myself…

(disclosure – my hobby is doing experimental data analysis on 120Mb spreadsheets).

jesse
Member

Like picking at a scab, I can't stop occasionally browsing Realestatetalks. Crazy Comissions at The Brook in North Vancouver.

If you know of someone being shown a unit there, I think a little bit of disclosure is appropriate.

Keeping an Eye on Th
Guest
Keeping an Eye on Th

"Hmmm. 17K divided by 2500 sales gives MOI of . . ."

Stop right there buddy! a little knowledge is dangerous.

Let’s leave these types of complex calculations for the

professionals at MLS, with the assistance of a fully qualified mortgage broker who has studied calculatorolgy under the tutelage of perhaps Aaron, or Maggie.

Kite towards moon
Guest
Kite towards moon

I think woodword units are more expensive than 1010 Howe and freesia Seymour.There are lots of pre-sale buyers believe to be already half of million richer than before.I think reason behind the success of "W" is that there are not enough selections or luxurious look in the neighbourhood area.This area around waterfront east/west is very old that's why "W" and "SMART" have been attracting the buyers constantly from last three something numbers of years and countinue to reign with 2/5/10 plus luxurious futures.

VHB
Member
VHB

Ok, maybe I'm a bit early, but I have set up the 17K party here in the forum.

Let's wait until we hit 17K to start the party, but I just want to be 100% READY. Oh, I'm feeling it now . . .

Hmmm. 17K divided by 2500 sales gives MOI of . . .

elvince
Guest
elvince

This is going faster than most (if not everyone) of us predicted. At this rate the 17k party is tomorrow.

Inventory
Guest
Inventory

************* 1/1/2010 / 4/27/2010 / % change

Bowen Isld 46 / 107 / 132.61%

_Bby East 68 / 163 / 139.71%

_Bby North 345 / 748 / 116.81%

Bby South 362 / 743 / 105.25%

Coquitlam 531 / 1142 / 115.07%

Van.&Gulf 215 / 274 / 27.44%

___Ladner 65 / 150 / 130.77%

MapleRidge 575 / 990 / 72.17%

_New West 262 / 575 / 119.47%

_North Van. 412 / 985 / 139.08%

OutofTown 105 / 72 / -31.43%

_Pitt Mead 121 / 195 / 61.16%

_Port Coq. 237 / 479 / 102.11%

PortMoody 213 / 449 / 110.80%

_Richmond 893 / 1853 / 107.50%

_Squamish 402 / 500 / 24.38%

Sunshine C. 656 / 1067 / 62.65%

_Tsawssen 98 / 187 / 90.82%

__Van East 767 / 1434 / 86.96%

_Van West 1396 / 3284 / 135.24%

_West Van 386 / 666 / 72.54%

__Whistler 569 / 772 / 35.68%

_____Total 8724 / 16835 / 92.97%