Weekly Vancouver Real Estate Update – July 13th 2009 – Still Strong | Vancouver Real Estate Blog

It was beginning to look as though the slower summer season had settled into the Vancouver real estate market. These two weeks were still strong, but only appeared weaker compared to the incredibly strong weeks that had led up to them. This past week reversed that trend and Vancouver saw yet another incredibly strong week.

New Listings – Vancouver

For the third time in the last five weeks New Listings fell (-4.70%). Vancouver saw new listings of homes rise to 365 from 383 in the previous week.

Home Sales – Vancouver

The previous two weeks had seen Sales slip from a high of 348 down to 245. This was still a very high number for mid-July in Vancouver, but it indicated that there might be a slowing down of the rapid pace we’d become accustomed to this spring.

This past week, the Vancouver real estate market saw sales jump (+29.39%). From 245 the previous week, we saw listings back up to 317. Meanwhile, the Average Days on Market rose slightly (+7) to 47 from 40.

Sell/List Ratio – Vancouver

For the fourth time in the last six weeks, the Sell/List ratio rose (+22.88) to 86.85% from 63.97%. This was due to the fact that New Listings fell slightly while the number of Sales rose sharply.

Price Change – Vancouver

Price changes fell even further this past week (-25.22%). They fell from 115 down to 86.

Active Listings – Vancouver

Active Listings fell once again (-1.75%) and for the fourth week out of the last five. At just 3316 Active Listings we have hit another annual low (it was 3375 the week before).

The Bottom Line

After seeing two weeks where it appeared the strength of the Vancouver real estate market might be faltering slightly, this past week came in extremely strong. Listings fell, Sales rose and Active Listings hit yet another annual low. There can be no greater indication of just how strong the current Vancouver real estate market is.

Weekly Vancouver MLS Real Estate Statistics - July 13th - July 19th 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).