Weekly Vancouver Real Estate Update – June 7th 2009 – Supply Drops + Demand Grows | Vancouver Real Estate Blog

Once again, this past week was another strong one in the Vancouver real estate market. June 1st – 7th, 2009 was strong in comparison to nearly every week in the last year except for the previous two.

New Listings rose for the third week in a row (+4.55%) to 391 from 374. Where we had been some choppiness over the last few weeks with New Listings this number is starting to rise steadily. I suspect that many sellers and their realtors are realizing that this is an excellent market to be selling into (strong demand and limited supply).

Sales fell (-4.21%) for the third week in the last ten. Sales remain incredibly robust as we are still very close to the annual peak for weekly sales (which was last week’s 309).

With Sales falling and Listings rising, the Sell/List ratio fell (-6.92) this past week. It now stands at a very strong 75.7%.

Active Listings continue to drop (-1.52%). At 3617 we have once again set an annual low for the number of Active Listings.

There appears to be little abating in the recent strength of Vancouver real estate. New listings are being snapped up by eager buyers. Demand is very strong and supply is very limited. It shall be interesting to see if the recent rises in long-term interest rates have any affect on these numbers in coming weeks.

Weekly Vancouver MLS Real Estate Stats - June 1st - 7th 2009

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On June 22nd, 2009 I will be attempting to break the record for the most ascents of the Grouse Grind for charity. The Royal LePage Shelter Foundation is an incredible organization which is there to help women and children suffering from domestic abuse. Of every dollar donated, 100% goes directly to those in need (Royal LePage covers all administrative costs of the charity).