Weekly Update – Vancouver Real Estate Statistics October 13th – October 19th | Vancouver Real Estate Blog

Here are the weekly statistics for the Real Estate Board of Greater Vancouver in the week of October 13th, 2008 – October 19th, 2008 for my market area of Vancouver East and Vancouver West.

What was positive coming out of last week? New listings were down quite dramatically (-40.57%), and active listings stayed relatively flat (+0.48%). The Days on Market also fell substantially (-4.44) to 46.62 for the sales of the week. The most welcome news is the low number of new listings this week as that’s the lowest number we’ve seen since I began recording the weekly Vancouver real estate statistics in July 2008.

Unfortunately, there are also negatives. The biggest negative in the numbers was that we saw sales way, way down (-50.85%) at 58. Removed listings were also down (-22.03%) and the Sell/List ratio fell (-4.47) to 21.4%, the lowest we’ve seen it in a month.

As we saw drops in numbers all around, I suspect that a good portion of this was attributable to the Canadian Thanksgiving Day long weekend last week. Many realtors took time off as their clients were out of town. That being said, it doesn’t account for the imbalance between the drop of sales in relation to the drop in new listings. It does, however, temper my excitement for the drop in new listings.

New Listings: 271 (-40.57%)
Avg List Price: $957,610 (+13.60%)
New Detached: 78 (-37.10%)
New Attached: 193 (-41.87%)

Sales: 58 (-50.85%)
Avg Sale List: $632,515 (-25.89%)
Avg Sale Sell: $593,940 (-25.28%)
Avg Diff: 6.49% (-0.87)
Avg DOM: 46.62 (-4.44)

Sell/List: 21.40% (-4.47)

Price Change: 322 (-13.21%)
Avg New List: $800,388 (-2.22%)
Avg Old List: $848,934 (-1.83%)
Avg Diff: 6.07% (+0.42)
Avg DOM: 58.36 (+2.28)

All Removed Listings: 223 (-22.03%)
Terminated/Cancelled: 128 (-41.28%)
Expired: 95 (+39.71%)

Active Listings: 5875 (+0.48%)