Weekly Vancouver Real Estate Update – August 17th 2009 – Supply Limited | Vancouver Real Estate Blog

The last week that I reported on was one of the strongest in well over a year in the Vancouver real estate market. This past week could just not exceed that, but it certainly held it’s own.

New Listings – Vancouver

New Listings dropped slightly during the week to 369 from the 386 of the week before. This is a strong listing number, but these listings have been quickly gobbled up by eager buyers in the Vancouver real estate market.

Home Sales – Vancouver

After an annual high of 383 in the previous week, this week we saw Sales fall off. They fell -20.37% to 305. This is still an extraordinarily high number of Sales for one week, particularly in the traditionally slower month of August.

Sell/List Ratio – Vancouver

Still high, this week saw the Sell/List ratio fall to 82.66% which was off (-16.57) from 99.22% the previous week.

Price Change – Vancouver

Price changes fell to 73 from 106 in the previous week. This was the third time in four weeks that we saw this number fall.

Active Listings – Vancouver

Yet again, we have another new record for the least number of Active Listings in Vancouver this year. The new low is 3097 which is only a slight (-0.42%) drop off the 3110 that we saw last week.

The Bottom Line

After a brief respite during the first week of August, the subsequent two weeks have shown unusual strength for mid-Summer. Listings are coming to market, but sales are keeping pace and the result is that active listings on the market continue to drop.