Here are the weekly statistics for the Real Estate Board of Greater Vancouver in the week of September 15th 2008 – September 21st, 2008 for my market area of Vancouver East and Vancouver West.
Once again, it’s hard to see a silver lining in the market numbers for the last week. What I can say is that they aren’t as bad as the previous week. At least we saw improvements on most of the important indicators over a disasterous last week.
New listings decreased (-8.26%) while sales dipped slightly (-4.35%). This resulted in a modest rise in the Sell/List ratio (+0.84) back up over the 20% barrier. Of course, this still is quite solidly in Buyer’s Market territory.
I have been expecting active listings to drop down this fall, but the numbers continue to prove me wrong (+3.23%) and they now sit at 5846. The removed listings picked up solidly this past week (+10.26%), but that wasn’t enough to compensate for the big gap between new listings and sales.
New Listings: 533 (-8.26%)
Avg List Price: $819,132 (-4.58%)
New Detached: 163 (-13.30%)
New Attached: 370 (-5.85%)
Sales: 110 (-4.35%)
Avg Sale List: $668,171 (+0.67%)
Avg Sale Sell: $638,319 (+1.45%)
Avg Diff: 4.68% (-0.81)
Avg DOM: 53.89 (+5.64)
Sell/List: 20.64% (+0.84)
Price Change: 353 (+13.14%)
Avg New List: $843,984 (+3.56%)
Avg Old List: $890,027 (+4.08%)
Avg Diff: 5.46% (+0.52)
Avg DOM: 62.98 (+1.75)
Removed Listings: 301 (+10.26%)
Active Listings: 5846 (+3.23%)
Copyright © 2008 by Sebastian Albrecht, Vancouver Realtor with Royal LePage Westside ”Weekly Update – Vancouver Real Estate Statistics September 15th – 21st”
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