Weekly Vancouver Real Estate Update – July 6th 2009 – Has Summer Begun? | Vancouver Real Estate Blog

In the previous week it began to look as though we might have started to see the usual summer doldrums settle into the Vancouver real estate market. This past week looks to reinforce that trend in some ways, notably in the drop of Sales.

New Listings – Vancouver

After falling twice in the previous three weeks, New Listings were back with a vengeance ( +17.48%). New Listings went from 326 up to 383, the highest they’ve been in a month.

Home Sales – Vancouver

After Sales peaked two weeks before, they have come off once more (-2.39%). This small decline moved Sales fro 251 down to 245. Meanwhile, the Average Days on Market remained just about where it sat in the previous week (+1). It rose to 40 from 39.

Sell/List Ratio – Vancouver

For the second time in five weeks the Sell/List ratio fell (-13.03) to 63.97% from 76.99%. While Sales remained relatively flat, New Listings jumped and this resulted in the drop of the Sell/List ratio.

Price Change – Vancouver

Price changes remained low (+25%), although hit the highest we’ve seen in five weeks. to stay low (-13.21%). They rose from 92 up to 115.

Active Listings – Vancouver

Active Listings rose slightly (+1.66%) this past week. In absolute terms, the number of homes on the market in Vancouver went from 3320 to 3375. This is still a fantastically low number that has buyers all across this city frustrated.

The Bottom Line

After a second week of lowering Sales figures, it looks as though the Vancouver real estate market might be beginning it’s annual summer holiday. That is not to say that the market is weakening as there continues to be strength in the market (eg low Average DOM, low Active Listings, etc).

Weekly Vancouver MLS Real Estate Statistics - July 6th - July 12th 2009

Please Donate

On June 22nd, 2009 I broke the record for the most ascents of the Grouse Grind for charity. The Royal LePage Shelter Foundation is an incredible organization which is there to help women and children suffering from domestic abuse. Of every dollar donated, 100% goes directly to those in need (Royal LePage covers all administrative costs of the charity).