Weekly Vancouver Real Estate Update – July 20th 2009 – Continuing Strength | Vancouver Real Estate Blog

Another week has passed, and it’s once again time to take a snapshot of the Vancouver real estate market. This past week was slightly weaker than the previous one, but it was stellar nonetheless. The only weakness was that the number of sales fell slightly, but otherwise everything remained very strong.

New Listings – Vancouver

After seeing New Listings fall for three out of the previous five weeks, this week they remained flat. Yes, for the first time since I began collecting weekly data there was no change in the number of New Listings in Vancouver. We had 365 New Listings this past week.

Home Sales – Vancouver

We’d seen Sales dip down to 245 two weeks ago, before jumping up to 317. This past week Sales fell a little (-9.46%) to 287. While a bit lower, this is once again a very strong Sales number for late July. At the same time, Average Days on Market rose (+6) to 53 from 47.

Sell/List Ratio – Vancouver

For just the third time in the last seven weeks, the Sell/List ratio fell(-8.22) to 78.63% from 86.85%. This was the result of Listings remaining flat and Sales falling.

Price Change – Vancouver

Price changes rose slightly this past week (+12.79%). They rose from 86 to 97.

Active Listings – Vancouver

Active Listings remained relatively flat (+0.03%). This was technically the second time in the last six weeks that there was a rise in Active Listings. At 3317 Active Listings we are just 1 above the annual low (it was 3316 the week before).

The Bottom Line

The strength of the Vancouver real estate market continues to take people by surprise. Even seasoned Vancouver realtors are shocked with the tenacity of this market. Sales continue unabated, listings remain slow, and active listings (inventory) remains very limited. Together with low interest rates, there is resulting in significant pressure on prices.

Weekly Vancouver MLS Real Estate Statistics - July 20th - July 26th 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).