Here are the weekly statistics for the Real Estate Board of Greater Vancouver in the week of July 27th 2008 – August 2nd, 2008 for my market area of Vancouver East and Vancouver West.

I suspect that what we are beginning to see is the seasonally slower summer period. Once again, listings are down (by another -8.63% this week). Sales are also down this week by -18.99%. This brings the sales/list ratio down to 35.56% and back into the Buyer’s Market territory.

One interesting number this week is the average days on market for sales. It was bumped way up to 51.01 this week. I believe that this was a bit of an anomaly for the week. There were a number of sales in one new building on the westside that were all well over 200 days and I believe that this skewed the numbers. However, it’s something to keep an eye on.

Lastly, active listings dropped this past week (-1.85%). Clearly, that was not because of an increase in sales versus new listings…but it’s a move in the right direction. We’ll keep our eyes on this to see if it’s a continuing trend.

New Listings: 359 (-8.63%)
Avg List Price: $895,308 (5.54%)
New Detached: 125 (-2.34%)
New Attached: 234 (-12.03%)

Sales: 128 (-18.99%)
Avg Sale List Price: $708,422 (-1.53%)
Avg Sale Sell Price: $674,427 (-2.31%)
Avg Difference: 5.04% (+0.83)
Avg DOM for Sale: 51.01 (+12.74 days)

Sell/List Ratio: 35.56 (+4.55)

Price Changes: 261 (-9.66%)
Avg New List Price: $905,768 (+10.25%)
Avg Old List Price: $$960,108 (+12.08%)
Avg Difference: -6.00% (-1.73)
Avg DOM for Price Change: 60.73 (+0.95 days)

Active Listings: 5423 (-1.85%)

Sebastian Albrecht, Vancouver Realtor with Royal LePage Westside

This entry was posted on Tuesday, August 5th, 2008 at 7:48 pm 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.