I have been busy trying to finish renoing our upstairs bedroom because my niece is living with us for a couple of months and we need another bedroom in the house. I have been laying a fir floor made from the boards of the old gym from when Spectrum high school was on Carey Road. I finally figured out what I was doing by the time I finished laying the floor. Now I am putting on a polyurethane coating and I am still not done. This was all supposed to be done by May 10th......
Because of this work I have not been near the computer for most of the last week and not written much of anything - barely ready email.
I cam across this interesting site on Vibrant Victoria - Strata Watch. You can look up how well your management company is doing.
I know I have not posted much on the real estate market locally, This is not because I have not had anything to say, but because I have not had time to digest and analyse all the data. Just some quick notes:
The number of housing units on the market has climbed very quickly after a dramatic fall over the winter. December saw the total number of units on the market fall to about 2500, the lowest level we have seen the last four years. The rebound back up to just under 4300 units in April and represents the highest number of units available in any April in Victoria history. I suspect will reach 5200 units on the market by the end of the summer.
The just under 800 sales in April is not a strong number and is the worst April in this market since 2004.
Prices for houses remain flat and still remain above the bottom of the market in late 2008 and early 2009. Normally March through July is a rising market with respect for house prices, and given the push due to various changes, I would have expected to see a rise in prices. Does this mean we are going to see a bad fall for sales?