Weekly Vancouver Real Estate Update – November 16th 2009 – Market Strength Continues | Vancouver Real Estate Blog

Weekly Vancouver MLS Real Estate Statistics - November 16th 2009

After a week that was slowed due to a statutory holiday (Rememberance Day) the Vancouver real estate market picked up again substantially. Both New Listings and Sales jumped significantly but this did not translate into swelling numbers of Listings.

New Listings – Vancouver

The trend of fewer listings shifted this week. After two straight weeks, New Listings rose for the first time…and they did so substantially (+37.45%). From 275 in the previous week they reached 378 this past week.

Home Sales – Vancouver

For the fourth time in the last five weeks the number of Sales rose. Sales went from just 223 to 271 this week (+21.52%).

Sell/List Ratio – Vancouver

The Sell/List ratio dropped once again (-9.4). It fell from 81.09% to 71.69%.

Price Change – Vancouver

Price changes fell (-19.82%) to 89 from 111 in the previous week.

Active Listings – Vancouver

For the fourth week in a row the number of Active Listings dropped. Active Listings fell (-0.63%) to 3139 from 3159.

The Bottom Line

This was yet another strong week in the Vancouver real estate market. We had a big spike in New Listings as well as in the number of Sales. At the same time Active Listings continued to drop. This combination is likely to continue to put upward pressure on prices.

More Info on Vancouver Real Estate

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Copyright © 2009 Vancouver MLS Statistics in the Vancouver Realtor Blog by Sebastian Albrecht, Vancouver Realtor with Royal LePage Vancouver ”Weekly Vancouver Real Estate Update – November 16th 2009 – Market Strength Continues”