I feel like a broken record. “Another strong week yadda, yadda, yadda (as they’d say on Seinfeld)….”. However, it’s the truth and there isn’t any better way to say it.
Every week since about mid-March has been excellent in the Vancouver real estate market. What I’m noticing in the last few is while averages are remaining the same, volumes are picking up.
New Listings – Vancouver
New Listings rose (+3.32%) once again (the third week in a row) from 391 to 404. This is the highest number of New Listings we’ve seen all year, and an amount that hasn’t been seen since mid-October 2008.
Home Sales – Vancouver
Sales rose (+5.07%) as well to 311 from 296. 311 is a new high for 2009 as well as an annual high. This is the seventh week in the last ten that Sales have risen.
Sell/List Ratio – Vancouver
The Sell/List ratio rose slightly (+1.28) to 76.98% from 75.7%. This was the result of Sales rising slightly more than New Listings.
Active Listings – Vancouver
Active Listings continue to stay incredibly low. This past week they rose ever so slightly (+0.22%) to 3625 from 3617. This just 8 listings above the annual low for the number of Active Listings.
The Bottom Line
Sales and Listings are continuing unabated. I know that many Vancouver realtors are encouraging their clients to put their homes on the market to take advantage of the strong demand and limited supply.
The same holds true for Vancouver realtors encouraging their buyers to take advantage of lower prices and low interest rates. The result is that the current Vancouver real estate market is busier than it has been in a very long time.
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).
More Info on Vancouver Real Estate
If you’d like to learn more about the Vancouver real estate market generally you can check out this page.
Copyright © 2009 Vancouver MLS Statistics in the Vancouver Realtor Blog by Sebastian Albrecht, Vancouver Realtor with Royal LePage Vancouver ”Weekly Vancouver Real Estate Update - June 14th 2009 – Volumes Increasing”
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