Here are the weekly statistics for the Real Estate Board of Greater Vancouver in the week of August 18th 2008 – August 24th, 2008 for my market area of Vancouver East and Vancouver West.

Firmly back from holidays, it appears that everyone else has left. The end of August is typically one of the slower periods for real estate and I think that’s reflected in this week’s stats.

All in all, it was a positive week. New listings were down quite significantly (-17.36%), although I expect we might see this number rise again come the beginning of September. Sales were down, but not significantly (-6.99%). The result is that we saw the Sell/List ratio increase (+4.90) to 41.69% and find itself back into balanced market territory.

We are keeping our eyes on the average days on market for sales, after the number spiked the last couple weeks. This week we saw the number drop significantly back down to 42.44 DOM (-7.90).

Active listings also dropped this week. This wasn’t a significant move (-1.08%) down to 5509 active listings. I was hoping to see more listings drop off by now, but we’ll also keep an eye on this number in the coming weeks.

New Listings: 319 (-17.36%)
Avg List Price: $820,953 (-3.12%)
New Detached: 100 (-23.08%)
New Attached: 219 (-14.45%)

Sales: 133 (-6.99%)
Avg Sale List Price: $711,082 (+9.97%)
Avg Sale Sell Price: $678,290 (+7.69%)
Avg Difference: 4.83% (+2.18)
Avg DOM for Sale: 42.44 (-7.90)

Sell/List Ratio: 41.69% (+4.65)

Price Changes: 241 (-6.59%)
Avg New List Price: $908,729 (-1.45%)
Avg Old List Price: $945,564 (-3.20%)
Avg Difference: -4.05 (-1.88)
Avg DOM for Price Change: 59.02 (-2.56)

Active Listings: 5509 (-1.08%)

Sebastian Albrecht, Vancouver Realtor with Royal LePage Westside

This entry was posted on Wednesday, August 27th, 2008 at 1:09 am and is filed under Statistics, Weekly Update. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.