Vancouver House Prices up 0.2%!

Metro Vancouver house prices were up again for the month of January, but it’s not exactly an auspicious start for Scotias prediction that this market will outperform the rest of Canada. Our market trailed the national average, but Victoria saw a 1% drop for the month.

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Mansur al-Hallaj

I wonder how the Japanese nuclear situation is going to reflect on the Lower Mainland.

Subquestion here is: How comfortable will the Rich Chinese Buyers ™ be with a radiation level higher than normal? China itself is not a beacon of environmental care. If they are fine with heavy pollution at home, they may feel fine with another dozen of microSieverts here.

How do I know there is a radioactive threat? It's simple: "Officials say fallout fears unwarranted".

VHB

Here are the projections, using List /ratio's numbers for today.

For the two missing days earlier this week, I just filled in numbers from the 5-day moving average, so there is additional uncertainty this month.

Listings are still on pace for record–over 7K!

Projected sales have slipped under 4K. Oh dear. Would only be 4th best in last 11 years.

March 2011 month-end projections

Days elapsed so far 8

Days remaining 15

5 Day Moving Average: Sales 161

5 Day Moving Average: Listings 306

SALES

Sales so far 1383.4

Projection for rest of month (using 5day MA) 2416

Projected month end total 3800 +/- 549

NEW LISTINGS

Listings so far 2562.92

Projection for rest of month (using 5day MA) 4587

Projected month end total 7150 +/- 305

Sell-list so far 54.0%

Projected month-end sell-list 53.1%

VHB

@List /ratio: Hi List /ratio. Thank you SO much for posting numbers! Hope to see you back here soon.

All the number lovers out there–vote me up if you are feeling some love for List /ratio!

chip

@Police:

Good grief, hate speech laws have no place in a free society. Crash's idiocy gets the scorn it deserves and our host here always has the discretion to protect his private property from morons if he wants to.

Police

@CRASH JPMorgan-Chase – Buy Silver:

You do realize hate speech is illegal in Canada. You have been warned.

Keeping An Eye On Th

http://www.marketoracle.co.uk/Article26836.html

A must read for Poor Vancouver Homedebtors:

"Markus Bergstrom writes: It's an eerily familiar story. Shortly before the American housing bubble burst, pundits across the globe argued that the world had reached a new plateau of economic growth, where the old rules of economics no longer applied — "this time it's different." The same has been said about the current boom in China"

Anonymouse

@CRASH JPMorgan-Chase – Buy Silver:

The right to free speech doesn't apply on a privately-run website, and either way voting your posts down doesn't infringe upon that right.

CRASH JPMorgan-Chase

W8uld all the chink l8vers please st8p red arr8wing my p8sts? If you d8n't like freedom 8f speech g8 back t8 y8ur c8mmunist China that bans free speech. D8n't bring y8ur shit over here please

CRASH JPMorgan-Chase

Fed legalizes rape. American’s stock up on Vaseline.
http://www.huffingtonpost.com/2011/03/10/fed-repo

Best place on meth

Either way, it's fucking dead for sales.

6 more days until the Chinese buyers are on their own.

paulb.

@List /ratio:

Hell ya, now were talking

List /ratio

My numbers indicate :

Vancouver East & West

New Listings – 129

Back On Market Listings 6

Price Changes -35

Sold Listings – 29

Vancouver All Areas

New Listings – 287

Back On Market Listings –13

Price Changes – 117

Sold Listings – 98

curious lurker

Kinda dead around here.

Looks like Larry put up some numbers today.

They look a bit surprising if you ask me.

Vancouver East & West*

New Listings – 89

Back On Market Listings -1

Price Changes -20

Sold Listings – 30

Vancouver All Areas*

New Listings – 257

Back On Market Listings – 4

Price Changes – 80

Sold Listings – 95

*Attached & Detached – Date: 03/10/2011 Time:17:13 Pacific YatterMatters.com:Courtesy REBGV. Data believed to be accurate but is not guaranteed.

Dave

@Rommel:

That's crazy! I am never going to China unless I bring my own food, water and air.

Dave

@Anonymouse:

Good idea. The City should have burned down the Olympic Village last year.

Devore

@Anonymouse:

Why would anybody buy anything earlier in the day if the knew a few hours later they’d be almost given away?

Because earlier it is fresh? Maybe you need it now and can't wait until later? And getting SOMETHING is better than getting nothing? Safeway discounts lots of stuff before they throw it away, it's hardly a novel idea.

There’s an analogy to real estate in there somewhere….

I'm sure there is.

4SlicesofCheese

Thats the same with me but that is just our personal choice.

My point is that it was not a problem before for local shoppers, they have ratings to gauge how well the store is doing and my friend says its been on decline for awhile.

Somethings going on.

SourLemon

Saying that T&T business slowed down can't really correlate with the state of the economy unless we examine a few questions.

1. Was this caused by the sale to Loblaws?

2. Was this caused by the bad publicity of the Pigeon dung news report/complaint?

3. Are people shopping T&T less because they dine in less?

4. Are people preferring more economical (Chinatown) / expensive (Choices) goods?

Devore

@pricedoutfornow: Unfortunately, a common excuse. Almost every economic report from US from the last 12 months blames winter weather in winter for poor performance.

Patiently Waiting

LOL that fake eggs story is fake. Might be good for a movie set.

Anonymouse

@Rommel:

About 1500 die every year in the US from Salmonella, Listeria, and Toxoplasma (source: CDC).

Anonymouse

@space889:

"I see them literally throwing dozens and dozens of perfectly good bakery goods at closing time rather than discount them for sale 30mins before closing"

Why would anybody buy anything earlier in the day if the knew a few hours later they'd be almost given away? There's an analogy to real estate in there somewhere….

Rommel

@Best place on meth: It just shows what kind of idiots these people from China are if they’ll pay more for an 8 in the address. No wonder, they must have their brains totally mangled after dealing with all those chemicals and toxins on daily basis. Like eating those eggs that someone pointed earlier today. Cases of problem foods and food poisoning are widely reported in Mainland China over the last few years. In 2001, there were 185 cases of food poisoning, affecting about 15,715 people and causing 146 deaths. The cases doubled in 2002. In 2003, the number of reported cases was ten times more than that in 2001, and the number of people suffered was as high as 29,660, including 262 deaths Now In Sept 2008 Nearly 53,000 Chinese children sick from contaminated milk; 4 have died. Why… Read more »

CRASH JPMorgan-Chase

Hazelton Gas station
http://twitpic.com/477lhg

space889

@4SlicesofCheese: Well I shop there a lot and all I can say is that if they actually drop the price on the cooked food after 7PM or even the next day and do the same thing with bakery, they wouldn't be throwing so much of it away. A lot of times when I go after work, I was tempted to buy the cooked stuff to avoid cooking but don't because the discount just isn't there for me. Currently the discount just isn't there to really entice me to buy them. However in terms of food wastage, I would say Maxim Bakery in Metrotown across from T&T is worse. I see them literally throwing dozens and dozens of perfectly good bakery goods at closing time rather than discount them for sale 30mins before closing or sell next day. I wish theese… Read more »