Weekly Update - Vancouver Real Estate Statistics August 11th - 17th
Here are the weekly statistics for the Real Estate Board of Greater Vancouver in the week of August 11th 2008 – August 17th, 2008 for my market area of Vancouver East and Vancouver West.
I was away for a couple of weeks on holiday (cycling up the Sunshine Coast and relaxing at a friend’s cabin on Mayne Island). While my holiday was excellent, I was remiss in keeping my blog updated during my absence. As a result, we have missed one week of data (I cannot retrieve data from the MLS system greater than 14 days old). So, this weeks data is being compared to the data of two weeks ago.
Listings were up modestly (+7.22%) while sales rose more significantly (+11.72%). This drove the Sell/List Ratio up to 37.05%. A positive sign, but the number is still within buyer’s territory.
I mentioned last time that we should be keeping an eye on the average days on market for sales. It had been bumped up significantly that week. We did see a decline this week, but not as significant as I expected (50.34 down by -0.67). There was one tri-plex that took 474 days to sell that kept this number inflated.
Active listings moved upwards once again. I mentioned last time that there was a slight drop in active listings. Unfortunately, this trend did not continue as we saw it rise by 2.69% to 5569.
New Listings: 386 (+7.22%)
Avg List Price: $847,420 (-5.08%)
New Detached: 130 (+4.00%)
New Attached: 256 (+9.40%)
Sales: 143 (11.72%)
Avg Sale List Price: $646,612 (-8.72%)
Avg Sale Sell Price: $629,865 (-6.61%)
Avg Difference: -2.66% (-2.38)
Avg DOM for Sale: 50.34 (+0.67)
Sell/List Ratio: 37.05% (+1.49)
Price Changes: 258 (-1.53%)
Avg New List Price: $922,081 (+1.80%)
Avg Old List Price: $976,798 (+1.74%)
Avg Difference: -5.93% (-0.07)
Avg DOM for Price Change: 61.58 (+0.85)
Active Listings: 5569 (+2.69%)
Sebastian Albrecht, Vancouver Realtor with Royal LePage Westside
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