Here are the weekly statistics for the Real Estate Board of Greater Vancouver in the week of October 20th, 2008 – October 26th, 2008 for my market area of Vancouver East and Vancouver West.
An interesting week. We had new listings rise (+22.14%) to 331. This number is still low in comparison to the numbers we saw so far this fall. It’s more in line with the new listing numbers we saw in the late summer (in the 300s). Sales rose (79.31%) to 104. Of course, the previous week had unusually low sales numbers while 104 is more in line with the numbers we’ve seen for the last couple months (although on the lower side).
The result is that we saw another solid spike in the Sell/List ratio. Once again the ratio went back up over 30% to 31.42% (+10.02). We saw a similar rise up over 30% at the end of September. I wonder if the market can hold onto the gains here?
Other notable results from last week saw DOM rise up to nearly 50 days once again (49.28). Removed listings dropped slightly (4.04%) which was a result of a big increase in Terminated/Cancelled listings (31.25%) and a big drop in Expired listings (-51.58%). I see this as a good sign as it indicates people are removing listings that aren’t selling. Hopefully, it’s the beginning of a trend.
Copyright © 2008 by Sebastian Albrecht, Vancouver Realtor with Royal LePage Westside ”Weekly Update – Vancouver Real Estate Statistics October 20th – October 26th”
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