Richmond Real Estate Market Report-April 30, 2013-Part 1

Blog by Arnold Shuchat | May 2nd, 2013

The Seller's Delusion Index-Month 2:

As can be seen from the table below, the SDI is calculated as the sum of expired listings in a period plus terminated listings in that period divided by the number of units sold in that same period.  The higher the ratio, the more "out of whack" sellers are with their customers. At 1.21 Richmond's SDI for single family homes is 33% better than it was for an almost similar period the month before 1.21 vs. 1.81, and it is an improvement over 2012 although it is about 46% worse than in 2011.

As for attached property, the changes are pretty bland but are notably going in the wrong direction.
Once sellers get it in their heads that their properties are only worth what buyers will pay regardless of what the sellers paid for the property, the ratio will start to descend further.  I believe that time is coming although it will take time for the required volume of sales to diminish the outstanding inventory.

Month of April Richmond-Single Family Dwellings      
Listings:   2013 2012 2011
# of Sales   88 111 140
# of Expireds   59 82 46
# of Terminated   48 66 70
Ratio of Expireds        
& terminateds to  SDI    
Sales: 30 Days ending 26/03/13 1.81 1.34 0.338
Month of April 2013 1.21 1.33 0.829
Month of April Richmond-Attached Properties      
# of Sales   150 181 230
# of Expireds   90 94 37
# of Terminated   48 105 83
Ratio of Expireds        
& terminateds to  SDI    
Sales: 30 Days ending 26/03/13 0.886 0.667 0.276
Month of April 2013 0.92 1.099 0.522

One more thing.  Are you concerned about the political evironmental effects on Lower Mainland Real Estate prices? If so, take a few moments and read my blogpost of May 2 at:

If you or any of your friends are thinking of buying or selling a property, please
email me at: or call me at: 778-227-7325 to discuss
a detailed purchasing or marketing plan which could help save thousands of dollars.