After three weeks of relatively stable statistics, we’ve seen some change in this past week. The market had really been drifting for the previous few weeks. Listings were rising and sales were flat. This past week, however, has seen some life return.
New listings were down -26.16% to 254 (from 344) while Sales were up 44.83% to 84 (from 58). This resulted in a relatively solid Sell/List ratio of 33.07% (+16.21).
Being the end of the month we also saw quite a rise in the Removed Listings (+106.21%) to 299 from 145 the previous week. As is to be expected, the most significant portion of these were Expired listings at 222 (+534.29%).
Active Listings were down -3.18% to 4078 from 4212. Anecdotally, I’ve begun to notice a significant amount of buyer interest in the market recently…particularly first-time buyers.
With the recent federal budget announcements encouraging first-time buyers, lowering interest rates and lowered prices, it would appear that a significant proportion of potential buyers are now thinking seriously about getting into the market.
Vancouver MLS Statistics Jan 26th - Feb 1st, 2009
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Copyright © 2009 Vancouver Real Estate Blog by Sebastian Albrecht, Vancouver Realtor with Royal LePage Westside ”Weekly Update – Vancouver Real Estate MLS Statistics January 26th - February 1st 2009”
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