Weekly Vancouver Real Estate Update – August 10th 2009 – Sales Surge | Vancouver Real Estate Blog

New Listings – Vancouver

New Listings swelled during this week to reach 386 from just 296 the week before. With inventory levels incredibly low in Vancouver at the moment, this is more than welcome. Eager buyers are anxious to see new listings come onto the market and this 30% increase over last week is a good start.

Home Sales – Vancouver

Sales bounced back stronlgy from just 158 the previous week to 383. This 142% increase gave us the highest number of sales in a week since I’ve begun recording these weekly statistics.

Sell/List Ratio – Vancouver

Back up close to 100% this past week saw the Sell/List ratio reach 99.22%. This was an increase of +45.84 over the 53.38%.

Price Change – Vancouver

Price changes rose to 106 from 74 the previous week. This was the first time in three weeks that we saw this number rise and this was a +43.24% increase.

Active Listings – Vancouver

It seems as though I have been reporting new records just about every week or every month. This week is no exception as we hit a new low for Active Listings (-3.39%) at just 3110. To balance this market we hope to see the number of Active Listings begin to rise at the beginning of the busy fall season in September.

The Bottom Line

It would appear that the previous week was a bit of an anomoly. August is typically one of the slowest months in the Vancouver real estate market. This year has been exceptional and it looks as though the first week of the month may have been the only slowdown this year.