Weekly Update – Vancouver Real Estate Statistics October 6th – October 12th | Vancouver Real Estate Blog

Here are the weekly statistics for the Real Estate Board of Greater Vancouver in the week of October 6th, 2008 – October 12th, 2008 for my market area of Vancouver East and Vancouver West.

It was a weak week last week after a series of two strong weeks in a row. I wonder how much of that weakness was as a result of the serious crisis in international financial markets over that week. That last week was when we saw the (so far) height of the crisis and it could well have weighed upon our local real estate market.

New listings increased (+13.43%) to 456 and sales fell slightly (-4.84%) to 118. The Sell/List ratio dipped down (-4.97%) to 25.88%. The increase of the Sell/List ratio up above 30% last week was shortlived.

Two things jump out at me in this week’s numbers. First of all, the trend of an increase in the average sales price ($794,932) from the low we saw a couple of weeks ago ($539,362) has continued. The other is that the Active Listings have are also trending upwards (+1.85%) once again after last week’s temporary dip (due in the most part to the large number of listings taken off the market at the end of the month).

New Listings: 456 (+13.43%)
Avg List Price: $842,968 (+4.02%)
New Detached: 124 (+0.81%)
New Attached: 332 (+19.00%)

Sales: 118 (-4.84%)
Avg Sale List: $853,475 (+10.98%)
Avg Sale Sell: $794,932 (+11.03%)
Avg Diff: 7.36% (-0.05)
Avg DOM: 51.06 (+3.38)

Sell/List: 25.88% (-4.97)

Price Change: 371 (-3.89%)
Avg New List: $818,525 (+5.82%)
Avg Old List: $864,719 (+6.05%)
Avg Diff: 5.64% (+0.23)
Avg DOM: 56.08 (-11.03)

All Removed Listings: 286 (-54.53%)
Terminated/Cancelled: 218 (-0.91%)
Expired: 68 (-83.00%)

Active Listings: 5847 (+1.85%)