Friday Real Estate Sales Statistics
The week wrapped up with 285 new listings. There were 104 price changes and 139 sales.
That means the sell/list was 48.77%. It’s climbing upwards, as I expected.
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Vancouver Westside, the trendsetter?
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Vancouver real estate sales statistics are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, neither the REBGV nor Rob Chipman are liable for any errors.
Thursday Numbers
Thursday brought 279 new listings, 124 price changes and 151 sales for a sell/list of
Sell/list was 54.12%.
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Downtown numbers?
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Vancouver real estate sales statistics are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, the REBGV is in no way responsible for them. I take all responsibility for any errors.
The Damages From Grow Ops
Hydroponic marijuana cultivation can cause a great deal of damage to real estate. It often requires renovations to property. These renos might cause damage to the home. The repair costs can be huge, generally reaching the multiple thousand dollar mark. In extreme cases grow ops result in the house being torn down.
Hydroponic grow systems require a huge supply of water. This usually means that the growers modify the plumbing system of the house. One by-product is excess water vapour. This requires ventilation systems to alleviate mould on the crop. These venting systems often make use of holes in the ceiling, pipes and hoses.
Moisture is an enemy of structures, and the extra moisture arising from grow ops is no exception. It can lead to mould in wall cavities and surfaces. The mould and other grow op requirements, like pesticides, result in the presence of noxious compounds. These things often remain in the structure long after the grow op is gone. This can create health problems for people with mould sensitivity. Sufferers of asthma and upper respiratory disease are particularly affected.
Grow ops use a lot of electricity with the lights. The wiring involved is often done in a shoddy and unprofessional manner. Permits to do this wiring are seldom acquired. Growers often steal power by tapping into the supply before the meter. This can be very dangerous, especially if it is never rectified. Electrical modifications like this can actually kill an unsuspecting person who inadvertently encounters a grow op. They are a definite fire hazard. Heavy power usage can also create situations that cause fires years later, after the grow op is gone.
Insurance companies are well aware of this. The industry reports that average grow op related claims top $40,000. They attempt to shift the grow op risk onto the homeowner as a result. This makes it incumbent on the landlord to protect himself against grow ops.Some insurers simply will not cover grow op damage, meaning that owners must self-insure through personal visits or a professional property manager. Some insurance companies will deny claims if the owner has not exercised caution.
If the police are involved the problem can get worse. They usually make sure that the utilities are cut off, and that is an additional problem in cold weather. Before the problem can be fixed the owner will need to get building permits. An environmental assessment will be needed to prove that mould has been dealt with. If there were previous, non-grow op related renovations done without a permit, they will have to be removed. Grow ops, clearly, are a very expensive proposition for a property investor. They need to be avoided at all costs.
Wednesday Vancouver Real Estate Statistics
I missed posting yesterday’s stats – social engagements held me back!
So what happened?
New Listings 240
Price Changes 109
Sold Listings 108
Sell/list was 45.00%.
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Downtown numbers?
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Vancouver real estate sales statistics are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, the REBGV is in no way responsible for them. I take all responsibility for any errors.
Tuesday Sales Statistics
Tuesday sales stats came in at 435 new listings, 85 price changes and 189 sales.
Sell/list was 43.45%.
Notice that price changes have dropped considerably in relation to sales. In a market with high sell/lists but lots of price changes it seems clear that demand is not high enough to take care of inferior listings, so price changes result; the cause of the high sell/list is usually a low number of new listings.
Right now we’re seeing a pick up in sales, few price changes, but still lots of new listings. Inventory should pick up, but don’t look for big price drops.
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Downtown numbers?
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Real estate sales statistics are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, the REBGV is in no way responsible for them. I take all responsibility for any errors.
Monday Real Estate Sales Statistics
The sales stats for Monday were:
New Listings 402
Price Changes 82
Sold Listings 106
That means a sell/list of 26.37%.
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Real estate sales statistics are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, the REBGV is in no way responsible for them. I take all responsibility for any errors.
Friday and the Past Week Stats
The Friday sales statistics were:
New Listings 359
Price Changes 78
Sold Listings 138
Sell/list 38.44%
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Over the past week the numbers were:
New Listings 2213
Price Changes 426
Sold Listings 580
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Greater Vancouver real estate sales statistics are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, the REBGV is in no way responsible for them. I take all responsibility for any errors.
Vancouver Sales Stats Thursday January 19
Numbers today were a tad more balanced than we’ve seen since January 1. If you figure that there are usually 1 to 2 weeks to get subjects removed then we’re just starting to report this year’s sales.
New Listings 376
Price Changes 78
Sold Listings 138
Sell/list 36.70%
(So, in answer to RJ, no, the wheels haven’t fallen off quite yet. The world is unfolding as predicted).
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Greater Vancouver real estate sales statistics are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, the REBGV is in no way responsible for them. I take all responsibility for any errors.
REBGV/FVREB Sales for Wednesday
There were another 405 new listings added to inventory Wednesday, with 107 price changes and 98 sales. The sell/list came in a little lower than yesterday at 24.20%.
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Real estate sales stats are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, the REBGV is in no way responsible for them. I take all responsibility for any errors.
Real Estate Sales Stats
The sales stats for Tuesday were:
New Listings 483
Price Changes 83
Sold Listings 130
That means a sell/list of 26.92%.
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Real estate sales stats are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, the REBGV is in no way responsible for them. I take all responsibility for any errors.
