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Lorne Hussey, Realtor, REMAX Anchor Realty, Qualicum Beach, B.C.
REMAX Anchor Realty Qualicum Beach, British Columbia
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Comparative Activity by Property Type

(Reported Sales – Unconditional Sales Only)

UNITS LISTED UNITS REPORTED SOLD SELL/LIST RATIO REPORTED SALES DOLLARS AVG SELL PRICE/UNIT MEDIAN SELL PRICE PRICE RATIO DAYS TO SELL ACTIVE LISTINGS

  --CURRENT MONTH-- --12 MONTHS TO DATE--
  THIS YEAR LAST YEAR % Change THIS YEAR LAST YEAR % Change
LOTS
           
UNITS LISTED 35 7 41-% 280 335 16-%
UNITS REPORTED SOLD 7 19 63-% 100 189 47-%
SELL/LIST RATIO 20% 31%   35% 56%  
REPORTED SALES DOLLARS 1,607,400 3,139,654 48-% 17,882,137 28,933,339 38-%
AVG SELL PRICE/UNIT 229.628 165,244 38 % 178,821 153,086 16%
MEDIAN SELL PRICE 246,000     161,500    
PRICE RATIO 97% 98%   97% 98%  
DAYS TO SELL 109 55 98% 78 74 5%
ACTIVE LISTINGS 132 130 1%      
SINGLE FAMILY            
UNITS LISTED 130 80 62% 1,150 1,039 10%
UNITS REPORTED SOLD 59 64 7-% 751 926 18-%
SELL/LIST RATIO 45% 80%   65% 89%  
REPORTED SALES DOLLARS 20,780,000

17,973,120

15%

239,479,533

258,804,600

7-%
AVG SELL PRICE/UNIT

352,203

280,830

25%

318, 880

279,486

14%
MEDIAN SELL PRICE

312,00

   

306,000

   
PRICE RATIO 98% 97%   97 % 97 %  
DAYS TO SELL 66 50 32% 50 49 2%
ACTIVE LISTINGS 292 186 56%      
CONDOMINIUM (APT)            
UNITS LISTED 25 12 108% 226 125 80%
UNITS REPORTED SOLD 9 13 30-% 99 89 11%
SELL/LIST RATIO 36% 108%   43% 71%  
REPORTED SALES DOLLARS 1,799,300 2,090,900 13-%

35,966,500

14,972,2 140%
AVG SELL PRICE/UNIT 199,922 137,200 24%

363,297

168,227

115%
MEDIAN SELL PRICE 210,000     215,000    
PRICE RATIO 96% 97%   99% 97%  
DAYS TO SELL 104 43 141% 47 42 11%
ACTIVE LISTINGS 118 25 372%      
CONDOMINIUM (TWNHSE)            
UNITS LISTED 37 12 208% 248 127 95%
UNITS REPORTED SOLD 8 5 60% 113 90 25%
SELL/LIST RATIO 21% 41%   45% 70%  
REPORTED SALES DOLLARS 2.269,227

1,164,000

94%

36,529,769

22,864,000

59%
AVG SELL PRICE/UNIT 283,653

232,800

21%

323,272

254,044

27%
MEDIAN SELL PRICE 250,000    

328,000

   
PRICE RATIO 99% 98%   99% 98 %  
DAYS TO SELL 68 22 209% 54 38 42%
ACTIVE LISTINGS 84 28 200%      

Source: Vancouver Island Real Estate Board - MLS Statistics - February 28, 2007

PLEASE NOTE:

SINGLE FAMILY property does NOT INCLUDE acreage with house, condominiums, duplex/triplex, mobile homes, single family waterfront or single family strata.

LOTS do NOT INCLUDE acreage or waterfront acreage.

COLLAPSE RATE - The collapse rate for all properties within the Board area was 0.9% for the current month.


 


   The majority of full-time real estate agents hear a lot of feedback every day all year from homebuyers as they visit potential resale and new construction homes.

   They wonder why builders, developers and home-sellers add finishes or upgrades that say "cheap" or "soon-to-be-out-of-date", in addition to owners who think the laminate wood-grained kitchen cabinets look fine.

   Old standbys like solid oak hardwood floors might not be on the design edge, but quality and durability out sell trendy any day in residential real estate. After a year of property showings in 2005 and eight previous years with homebuyers as well as requests from consumers after the review of "1001 Tips for Buying and Selling a Home" in The New York Times, I've compiled a list of home runs and strikeouts for those looking to sell to homebuyers in 2006.

What's In

  • Smaller square footage homes. After years of sprawl, new construction buyers want less space with better finishes.
  • Quality kitchen cabinets. With the kitchen/greatroom the center of family living, buyers today are looking at furniture style cabinets.
  • Bamboo wood floors. It could overtake maple as the favorite light-colored wood flooring in 2006.
  • Wall space for flat screen TV's. Specify power and cable boxes close to locations where homebuyers want to place the latest in visual technology. The popular location for installation in new construction is over the fireplace.
  • Multiple and high-powered phone lines. With modems, dsl, wi-fi moving into mainstream use, tech-savvy homebuyers want "wired" homes.
  • Separate shower stalls and bathtubs in master bathrooms. The growing divide among "soakers" and "showers" is increasing. Not having one of each in a master bath could quelch a purchase.
  • Built-in home stereo systems are a must-have for many audiophiles. Wireless hasn't quite made the pre-wired audio system home obsolete, at least not in 2006.
  • Balconies and decks wider than 3 feet. Homebuyers want usable outdoor space. Big enough for a bistro table and chairs and a couple of pots for container gardening.
  • Guest parking. With the rise in condominiums, lofts and zero-lot line subdivisions, homebuyers want their guests to have a hassle-free experience when they arrive at their new home. Buy or lease an extra space for family or friends.
  • Dog Parks. Dogs and home ownership go hand-in-hand. The new way to meet neighbors in the hood is to interact with them at the dog park. Before buying a home, check out the nearest one.
  • Ranch or one level homes. The baby-boomers are discovering their utility in droves.
  • Second Homes. The baby-boomers are also keeping this market segment strong. Demand for second homes was still on the upside in 2005, but if primary home demand weakens, the second home market will historically follow.
  • Seller give-backs. With a more balanced market in most metro markets, requests by buyers to pay closing costs have increased, and some sellers are paying them.
  • Carbon Monoxide detectors. Home inspectors red flag homes that have only smoke detectors. Inexpensive and lifesaving, install one on every floor of a home before opening to homebuyers.

What's Out

  • The real estate bubble. It's a correction with a soft decline in prices.
  • Ebony-stained hardwood floors. You're better off tearing it out than trying to sand the ebony out to refinish.
  • Single-rod closets. Buyers want the most storage in the least amount of space. Organizers accomplish this.
  • Dark rooms with small windows. Natural light can overrule a lot of other problems in a home.
  • Wallpaper. Buyers never have the same taste as decorators. Take it down (carefully) and paint.
  • Builder grade light fixtures and interior fixtures used outside. The right fixtures say quality to buyers.
  • Mid-century awnings on exterior windows and doors. Buyers want to let the sun shine in.
  • Mirrored backsplash's in kitchens and everywhere else. Mirrored walls and ceilings say 1980's hedonism.
  • Commitment (strong, bold trendy) colors. They look great in magazines, but as one buyer said to me "I don't live in a magazine".
  • Gas grills that need their own tank. Buyers prefer the gas piped from the house so they don't have to replace tanks.
  • Dropped ceilings. It might have updated a bungalow in the 1950's, but buyers want as much vertical space as possible.
  • Flipping. Increasing inventories of unsold homes is increasing, signaling weakening demand by all buyers. If you are holding properties to flip, prepare to place them on market after the holidays.

On the Way Out

  • Stainless steel appliances. Word-of-mouth says the cleaning requirements aren't for everyone.
  • Laminate flooring that looks like hardwood. Not only can buyers tell it's not wood, the noise it makes with high-heel shoes is the deal killer during property showings.

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LORNE HUSSEY, REALTOR
REMAX Anchor Realty
113 West 2nd Avenue
Qualicum Beach V9K 1T5

Phone: 1-250-752-2466
Toll free: 1-800-668-3622
Mobile : 1-250-954-4171

Email: lhussey@remax.net

All rights reserved ©2010 Lorne Hussey