The biggest news this week is that the inventory level has increased. This is the first significant increase in about six months. While we had minor fluctuations during that time (an increase of 10 or 20) this past week saw a jump of +2.01%. One has to wonder if we have seen the nadir of active listings for the year.
Otherwise, the week was not spectacular. Most likely due to the long-weekend during this week, there was a dip in the number of sales. At the same time, new listings increased.
Weekly Vancouver MLS Statistics - September 7th, 2009
New Listings – Vancouver
For the second week in a row, New Listings rose. This comes after three consecutive weeks of declining new listings. There were 423 new listings this past week which was up (+15.26%) from 367 the week before.
Home Sales – Vancouver
For the fourth week in a row, Sales dropped. There were only 209 Sales (-19.92%) which was down significantly from 261 the week before.
Sell/List Ratio – Vancouver
With falling Sales and rising New Listings, the Sell/List ratio fell again. Down -21.71 this week from 71.12% to 49.41%.
Price Change – Vancouver
Price changes fell significantly (-17.20%) to 77 from 93 the week before.
Active Listings – Vancouver
As I mentioned at the top, Active Listings rose significantly (+4.09%) for the first time in six months. That’s a significant change and could signal a shift in the market. We had 3129 Active Listings this past week and 3006 the week before.
The Bottom Line
The inventory that we were expecting to increase appears to finally be happening. Meanwhile, Sales have certainly tapered off. We should continue to see active listings build for the next couple of months. However, I expect that Sales will likely rebound but still not be as strong as they were before the Labour Day long weekend.
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.
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 MLS Statistics in the Vancouver Realtor Blogby Sebastian Albrecht, Vancouver Realtor with Royal LePage Vancouver”Weekly Vancouver Real Estate Update – September 7th 2009 – Inventory finally increases”
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