So, thankfully January 2009 passed and we saw a much improved February 2009. It appears that there has been a renewed interest in purchasing real estate in Vancouver. Realtors have reported a big increase in traffic at open houses, inquiries, offers…and as we’ll see in the stats, sales.
”There are terrific opportunities out there right now, but with property listings continuing to decrease, those opportunities may be available only for a brief window of time, said Dave Watt, president of the Real Estate Board of Greater Vancouver (REBGV).
”REALTORS® are reporting more activity compared to recent months as people begin to see whether their position in the housing market has strengthened as a result of falling interest rates and improved affordability, Watt says.
Sales in Greater Vancouver increased 94% in February compared to January. There were 1,480 sales in February 2009 versus just 762 in Janaury (the slowest month for housing sales in 25 years). On average, over the last ten years February sales are 53% over January.
Meanwhile, we continue to see a decrease in listings for Vancouver residential properties (the fourth month in a row). New listings fell 25.6% in February compared to last year.
Below, you’ll see the stats for Vancouver specifically. Sales are up even more strongly (+118.25%) over January, while listings are down slightly less year over year than for the entire Lower Mainland (-22.66%). The Sell/List ratio is a fairly healthy 43.44%.
As for prices, you’ll see that Vancouver West has been hit harder than East year over year. As an example, detached houses on the Westside are of -19.43% year over year versus just 11.06% on the Eastside.
[I've made a change to the Vancouver real estate statistics graph down below. In previous months I've only shown the changes from the previous month to the current month (Change M-M). This month I've changed this to include the percentage change from the same month a year ago (Change Y-Y)]
February 2009 Vnacouver Real Estate MLS Stats
Perhaps you still have questions, or you are interested in buying or selling then you can contact Sebastian Albrecht, Vancouver Realtor or send me a quick email.
Looking for a deal? You can learn about how to avoid Vancouver foreclosures and what is a Vancouver estate sales. These opportunities can be an excellent opporunity to get a great deal in the Vancouver real estate market. Sign up to receive the latest Vancouver Foreclosure listings as well as the Vancouver estate sales.
Copyright © 2009 Vancouver Realtor Blog by Sebastian Albrecht, Vancouver Realtor with Royal LePage Westside ”February 2009 Real Estate Board of Greater Vancouver MLS Statistics”
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Related posts:
- December 2009 Real Estate Board of Greater Vancouver MLS Statistics
- January 2010 Real Estate Board of Greater Vancouver MLS Statistics
- September 2009 Real Estate Board of Greater Vancouver MLS Statistics
- October 2009 Real Estate Board of Greater Vancouver MLS Statistics
- March 2010 Real Estate Board of Greater Vancouver MLS Statistics
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