Once again, here are the weekly statistics for the Real Estate Board of Greater Vancouver (REBGV) for November 24th, 2008 – November 30th, 2008 for the market area of Vancouver East and Vancouver West.
The weakest sign we are seeing in the statistics is once again a low number of Sales at 69 (0.00%). That number is flat, no up or down movement at all. The silver-lining is that at least the number of Sales isn’t falling any longer (and hasn’t for the last three weeks).
Strengthening signals include the number of New Listings have dropped sharply to 188 (-10.48%). As I mentioned last week, I think that this is largely due to our entering a seasonally slower winter market. Nevertheless, this is the third week in a row that we’ve hit the lowest number of New Listings since I began recording the stats in July 2008.
The significant Sell/List ratio rose once again as a result of the changes in New Listings and Sales numbers. 36.7% (+3.84) is the highest Sell/List ratio that we’ve seen since mid-August 2008. This number has to rise (in combination with Removed Listings) in order for the market to stop it’s decline.
Speaking of Removed Listings, this number ballooned to 410 (+167.97%). In large part, this is due to an enormous rise in Expired listings to 272 (+635.14%). Of course, this rise is what we see at the end of every month.
The result of all these changes is that the total number of Active Listings dropped (slightly) to 5657 (-0.91%). This is a good number, but given that this week was the end of the month where we typically get the highest number of Removed Listings, I would have preferred to see this number drop more significantly.
More Info on Vancouver Real Estate
Should you want to learn more about the Vancouver real estate market generally you can check out this page. You can also review all of the statistics for Vancouver East and Vancouver West broken down for you here:
Enjoy Vancouver real estate statistics? You can find all of the latest stats by area right here:
- Coal Harbour real estate
- Downtown Vancouver real estate
- Fairview Vancover real estate
- Grandview Vancover real estate
- Kitsilano real estate
- Mount Pleasant Vancouver real estate
- West End Vancouver real estate
If you are thinking of buying or selling, or just have questions, contact me here or send me a quick email.
Copyright © 2008 by Sebastian Albrecht, Vancouver Realtor with Royal LePage Westside ”Weekly Update – Vancouver Real Estate Statistics November 24th – November 30th”
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Related posts:
- Weekly Vancouver Real Estate Update – November 30th 2009 – Holiday Resilience
- Weekly Vancouver Real Estate Update – August 24th 2009 – Supply Drops (again)
- Weekly Vancouver Real Estate Update – November 9th 2009 – Short Week Slows Market
- Weekly Vancouver Real Estate Update – November 2nd 2009 – Strong Market Continues
- Weekly Vancouver Real Estate Update – November 16th 2009 – Market Strength Continues
