Weekly Vancouver Real Estate Update – July 27th 2009 – A Big Week | Vancouver Real Estate Blog

In recent months there has been few signs of the Vancouver real estate market slowing. Real estate in Vancouver has gone from strength to strength. This past week was no exception. In fact, this last week was one of the strongest we’ve seen.

New Listings – Vancouver

New Listings had been falling steadily until the previous week when they actually remained flat. Last week, we saw a decline (-4.93%) in the New Listings from 365 to 347. This is the third week of the last four that listings have either fallen or remained the same.

Home Sales – Vancouver

Weekly Vancouver real estate Sales have been floating around the 300 mark for the last few months. In the last four weeks it’s been an even split between ups and downs in the Sales numbers. This last week, however, we saw a big jump (+22.30%) in the Sales from 287 to 351.

351 is the highest number of sales we’ve seen in the Vancouver real estate market in more than a year. In fact, it’s nearly triple the 128 Sales that we saw in the same period one year ago.

Average Days on Market rose (-10) to 43 from 53.

Sell/List Ratio – Vancouver

For just the second time in the last year, the Sell/List ratio was over 100%. It rose (+22.52) significantly this past week to hit 101.15% from the 78.63% the previous week.

Price Change – Vancouver

Price changes fell this past week (-18.56%). They fell from 97 to 79.

Active Listings – Vancouver

Active Listings took a big tumble (-3.04%) this past week. We usually see a decline during the week that bridges the end of the month, but these Active Listing numbers are surprising. Just when we think that market inventory can’t go any lower, it does. This past week Active Listings in Vancouver fell from 3317 to 3216.

The Bottom Line

Just when we think that the market can’t possibly get any more heated, that’s just what happens. This past week was one of the strongest we’ve seen in the past year. There are no signs of this slowing down. I do, however, expect to see an increase in listings coming onto the market after the Labour Day holiday.

Weekly Vancouver Real Estate Statistics - July 27th - August 2nd, 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).