Weekly Vancouver Real Estate Update – November 23rd 2009 – The Holiday Wall Approaches | Vancouver Real Estate Blog

Weekly Vancouver Real Estate Statistics - Nov 23rd, 2009

I think that we can safely say we’re approaching the Holiday Wall. The volume of activity in the market is way down. Both Listings and Sales took a big hit this past week. However, the Sell/List ratio was up strongly and the number of Active Listings fell for the fifth straight week.

New Listings – Vancouver

Last week appears to have been an anomaly. After six week of falling numbers of New Listings, the previous week saw a big jump. However, last week saw a return to a decline in this number. We were down (-30.16%) to 264 from 378.

Home Sales – Vancouver

For just the second time in the last six weeks we saw the number of Sales decline. This past week saw the number fall (-19.93%) from 271 down to 217.

Sell/List Ratio – Vancouver

Since we saw a bigger drop in the number of New Listings than Sales, the Sell/List Ratio had a decent bump. The Sell/List Ratio rose (+10.5) to 82.2% from 71.69%.

Price Change – Vancouver

Price changes rose (+15.73%) to 103 from 89 in the previous week.

Active Listings – Vancouver

For the fifth week in a row the number of Active Listings declined. Active Listings fell (-1.24%) to 3100 from 3139.

The Bottom Line

I’ve been surprised (as has everyone else) at the strength of the Vancouver real estate market this year. However, I do think that we are finally approaching the Holiday Wall as this weeks numbers showed considerable declines in volumes.

While volumes are down, the pressure is still upward on prices as the Sell/List Ratio remains high.

More Info on Vancouver Real Estate

If you’d like to learn more about the Vancouver real estate market generally you can check out this page. You can view daily real estate updates by following Sebastian on Twitter, or keeping an eye on Sebastian’s Vancouver real estate statistics page.

Considering buying or selling, or maybe you just have questions? Feel free to contact me here or send me a quick email.

Copyright © 2009 Vancouver Real Estate Statistics in the Vancouver Real Estate Blog by Sebastian Albrecht, Vancouver Real Estate with Royal LePage Westside ”Weekly Vancouver Real Estate Update – November 23rd 2009 – The Holiday Wall Approaches”