January Sales

BC Homes Sales Dip After Strong December  BCREA

In a news release (highlights added) with this title the BC Real Estate Association (BCREA) reported that home sales in January were 10% lower than December on a seasonally adjusted basis.

If you conclude, as I did, that this headline is suggesting the markets have slowed, that is not the case.  The real story here is that December was a very strong month as buyers rushed in to beat the new mortgage stress test that took effect January 1, 2018.  The release notes that January sales were up 18.3% over January of 2017 with a price increase of 16.2% province wide.  With the exception of Victoria, all markets saw a reduction in active listings (inventory) compared to last year.

For the Vancouver Island Real Estate Board area (VIREB), some specific numbers include (highlighted in the release) comparing January 2018 to 2017:

  • Average price was up 10.7%
  • Active listings were down 18.3%
  • Units sold in January was up 25.8%
  • Please not these stats are based on all types of property and not just single family homes I usually report on.

As reported in my Market Update in January, December sales were up 34.6% for the VIREB area with Nanaimo leading the way with a 69% increase.

     About Gerry                                         Service and Integrity Above All

Information and Interpretation
Selling or buying real estate is a major financial endeavour with many factors to consider. While you have a wealth of information available to you on the internet, interpreting that information is another matter.

This is where I come in. Not only do I research and provide you the information you need, I take it to the next level and analyze and interpret that  information for you. I will tell you what I think, what we do is up to you.

As a client, your Realtor works for you, and this is a principle I hold dear.  I see my job as providing you with information, interpretation, services and guidance, not to push you on a course of action.

Unparalleled Service
I have a simple code, I don't sell, I service. I assume my clients are perfectly able to make their own decision once they have the information they need. I spend my time providing information, guiding people through the process, and making sure all the bases are covered, not in high pressure sales.

Over the years I have received very complementary feedback from clients. See Client Feedback.

Integrity, simply defined, is being honest and fair. This is further enhanced by one of a Realtor's prime duties, which is not to put anyone's interest above their clients, including their own.  This a duty I take very seriously. My personal outlook after over 30 years in business, is that whenever I experience high pressure sales I start to question the integrity of the person selling me.  Are they looking after my best interest or theirs?

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Blue illustration of Gerry Chwelos, Realtor, Pemberton Holmes.

Gerry Chwelos, REALTOR®


Tel: 250-8975465

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