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Weekly Vancouver Real Estate Update - June 28th 2009 - Record Week

By
Real Estate Agent with Royal LePage

While I was trying to break a record on Grouse Mountain this week, the Vancouver real estate market was breaking records of its own down below. This was yet another in a growing line of strong weeks for Vancouver real estate and the trend doesn't appear to want to end.

New Listings - Vancouver

After falling last week for the first time in a month, New Listings rose once again (+7.20%). The previous week New Listings were 347 but this past week New Listings rose to 372.

Home Sales - Vancouver

For the last two months Sales of Vancouver homes have been hovering around the 300 mark. Some weeks are slightly above, and other slightly below. For the first time in at least 18 months Sales jumped right into the mid-300s. They rose (+12.26%) to 348 last week which is up from 310 the week before.

Sell/List Ratio - Vancouver

The Sell/List ratio rose once again (+4.21) to 93.55% from 89.34%. This change was the result of the big spike in sales in relation to the new listing numbers.

Price Change - Vancouver

Price changes remain low. The homes that are adjusting price are also becoming more expensive (as that segment of the market is slower), they are taking longer to drop prices, and the price drops are smaller amounts. These are all indications of a strong Vancouver real estate market.

Active Listings - Vancouver

This number continues to surprise me. Active Listings are still dropping in Vancouver (-1.34%) down to 3534 from 3582. Yet another annual low.

The Bottom Line

Every time that New Listings increase, Sales seem to either outpace them or match the rise. The strength of this market continues to surprise observers.

It appears as though sellers are beginning to realize that this is an excellent market to be putting their homes up for sale. Meanwhile, buyers are still finding that bargains abound and they do not want to be left behind as the market appears to rebound.

Weekly Vancouver MLS Real Estate Stats - June 22nd - 28th 2009

Weekly Vancouver MLS Real Estate Stats - June 22nd - 28th 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).

Royal LePage Shelter Foundation

Donate to the Royal LePage Shelter Foundation

 

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.

Are you thinking of buying or selling, or just have questions then you can contact me here or send me a quick email.

Copyright © 2009 Vancouver MLS Statistics in the Vancouver Real Estate Blog by Sebastian Albrecht, Vancouver Realtor with Royal LePage Vancouver "Weekly Vancouver Real Estate Update - June 28th 2009 - Record Week"