Market Report January 2019

HERE ARE SOME OF THE JANUARY 2019 NUMBERS:

• The average single-family home price in January 2019 decreased to $688,886 from $699,352 compared to January 2018.

• Residential days on market has increased by 3% to 77 days in January 2019 compared to 75 days in January 2018. It’s taking longer to sell now! We now have 9 months of residential inventory.

• The number of total sales has decreased by 40% to 216 units for the month of January 2019 compared to 363 units in January 2018.

• Number of units listed has increased 24% to 787 units listed in January 2019 compared to 636 in January 2018.

Supply vs demand is changing, and it is affecting our market now. It continues to show signs of a stronger and growing buyer’s market.

 I was thinking about how I was going to boast about our mild winter compared to the rest of the country. Then that idea ended rather abruptly when we too ended up in the deep freeze. At least there is one positive note from this blast of cold weather. The ice wine harvest is on! A week ago, there was discussion of a major loss of ice wine grapes. I’m sure the wineries are happy with this cold snap! 

Speculation Tax is Here.

It’s the end of January and we have all started to receive our speculation Tax envelope from the government. If you have owned a property in B.C. as of December 31st, 2018 a letter will be sent to the address on file with the B.C. Assessment Authority.

The letter is important as it will have your declaration code and letter ID included. Once you have received your speculation tax letter you are able to proceed to declare your position with the government. You have the availability to do this by either phone (toll free at 1-833-554-2323) or on line at www.gov.bc.ca/ spectax.

You will need to have on hand when you start the process your Declaration Code, Letter ID Code, Social Insurance Number and the property address. This is a very important task to be completed. If you don’t file your declaration prior to the March 31st deadline, you will have to pay the tax and then file for a refund and we all know how quickly the government likes to refund you your money.

The toll free number is there if you don’t have access to a computer or are uncomfortable with the forms. Also, use the number if you are unsure of exactly what to do. Just be prepared that it may take a bit of time!

Six Good Reasons to Play More Golf!

We often start our New Year with resolutions often include getting more exercise, spending more time with friends or taking breaks to relax and re-charge. What if you were told that golf was a good way to do all three? And there are endless choices for all skill levels.

1. Golf may not be the most physically demanding sport, but golfers walk on average six miles in an 18-hole round, some golfers even more depending how straight your shot is. Add in the various terrains available, think up hill, down hill, through the sand and rough, now that is good exercise!

2. Golf is a game in which good manners and respect are paramount however Sergio Garcia seems to have forgot that last weekend. Your foursome can be made up of friends, colleagues, family members or you can be paired up with other golfers and make new friends.

3. No round of golf is the same as the last, that is for sure my scores will prove that. Course conditions vary, weather changes, your company can change daily, and your swing is certainly never the same. Every single round of golf is already different and with different golf courses to choose from, the variety is endless.

4. You can eat and drink while you play. Pick up a coffee from the snack shack or enjoy a sandwich and a beer while playing your round. In what other sport can you do this and not be a spectator?

5. Golf can be played alone. If you just need some time and some space a twilight round might be just the thing. You never know, your next great marketing idea or new client could happen on the golf course!

6. Golf is a game for all ages. It's a fun, recreational activity. So let go of your worries for a while and take a walk.

 Who needs a reason? I sure don't but if you feel you do, these are 6 good ones!