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Vancouver Real Estate Stats January 24-30

Total inventory for the REBGV/FVREB was 16,416, of which 6,362, or 38.75%, were over 90s.

For the REBGV the numbers were 10,305, 3,940, and 38.23%

For the FVREB the numbers were 6,111, 2,422 and 39.63%.

There were 1,333 new listings, 279 price changes and 601 sales in the REBGV, for a sell list of 45.09%.

In the FVREB the numbers were 587, 174 and 239, for a sell/list of 40.72%.

The combined numbers were 1,920, 453 and 840 and a sell/list of 43.75%.

Sell/list continues to edge up while the over 90s continue to drop. Its only two weeks, but when old, stale stuff disappears and the sell/list rises, some would say that the market is catching up with what used to be over-priced – i.e, prices are moving up.

I’ll stick with my predicting of a stagnating market, but the numbers were against me last week.

First chart is REBGV, second is FVREB, third is combined. Numbers are courtesy of the REBGV, and while every effort is made to ensure their veracity the REBGV assumes no responsibility for the numbers or their use. Any errors are solely mine.

Rob’s Report Generator

Rob’s Report Generator

Data for File: SalesJanuary30REBGV.csv

All Properties
Sales Average List Price of Sales Average Sales Price Difference ($) Difference (%) DOM
601 $780,998.10 $765,702.45 -$15,295.65 -1.91% 57
Attached Properties
Sales Average List Price of Sales Average Sales Price Difference ($) Difference (%) DOM
336 $485,870.44 $475,766.58 -$10,103.86 -1.98% 47
Detached Properties
Sales Average List Price of Sales Average Sales Price Difference ($) Difference (%) DOM
249 $1,203,461.80 $1,181,677.11 -$21,784.69 -1.61% 63

Data for File: SalesJanuary30FVREB.csv

All Properties
Sales Average List Price of Sales Average Sales Price Difference ($) Difference (%) DOM
239 $479,330.27 $465,039.98 -$14,290.29 -3.00% 63
Attached Properties
Sales Average List Price of Sales Average Sales Price Difference ($) Difference (%) DOM
91 $288,132.86 $281,243.60 -$6,889.25 -2.67% 58
Detached Properties
Sales Average List Price of Sales Average Sales Price Difference ($) Difference (%) DOM
137 $618,282.81 $599,612.31 -$18,670.50 -2.85% 57

Data for File: SalesJanuary30REBGVFVREB.csv

All Properties
Sales Average List Price of Sales Average Sales Price Difference ($) Difference (%) DOM
840 $695,166.42 $680,156.82 -$15,009.60 -2.22% 58
Attached Properties
Sales Average List Price of Sales Average Sales Price Difference ($) Difference (%) DOM
427 $443,729.64 $434,310.86 -$9,418.78 -2.12% 50
Detached Properties
Sales Average List Price of Sales Average Sales Price Difference ($) Difference (%) DOM
386 $995,768.74 $975,089.34 -$20,679.39 -2.05% 61

My name is Rob Chipman and I’m a realtor, pilot and all around super hero based in Vancouver, BC. I really enjoy flying, playing guitar and hockey, real estate and the Chilcotin.  My company is Coronet Realty Ltd., located at 3582 East Hastings Street, Vancouver, BC, V5K 2A7. I have a C-150L that I own with two other pilots, based out of Pitt Meadows. Do not hesitate to contact me by email if I can help you do anything, especially if its likely to be interesting.


14 Responses to “Vancouver Real Estate Stats January 24-30”

  1. 1 says:

    45% sell/list, incredibly strong, yup yup.

  2. Rob says:

    1:

    Nobody said it was incredibly strong. I said, as you well know, that I foresee stagnant prices.

    You seem to want to continue that old bear/bull debate, and perhaps you’re searching for people to debate with, but for me and just about everyone else its really grown boring.

    Why don’t we talk about what the market is actually doing? I’m confident that you can find something interesting to say.

  3. SC says:

    http://www.househunting.ca/theprovince/buying-homes/Richmond+property+soars+past+list/4187452/story.html

    Richmond detached homes are on fire! It is not uncommon to have homes selling for over $100k above lists.

    And all these homes have no mortgage helpers. Must be a combination of locals and wealthy foreign buyers into the market! Who needs a mortgage helper when you can afford it.

    It’s too bad a lot of bears always find a way to refute the idea that there isn’t a lot of foreign money investing in our local real estate.

  4. Rob says:

    1:

    I’m not sure where you’re going with your links. What’s the point of #1? We all know what happened in the US, and we have some pretty good ideas about why it happened. I don’t think we can sum up the cause as “…because it always ends this way…”.

    For #2, great link. Not sure where you’re going with it, or what its supposed to prove, but, for the hell of it, I’ll pull out a quote:

    “Federal policy should limit public exposure to
    mortgage lending risks, by winding back CMHC’s
    role in providing mortgage insurance, and
    allowing private providers to take on a larger role.”

    Why? As you know, AIG was poised to jump into our mortgage insurance markets just prior to the meltdown, and had been given the green light. I’m glad AIG got bailed out, what with having bought some insurance from them myself, but do you want a big private American company carrying that ball, going broke, and then coming to us empty handed?

  5. 1 says:

    Rob,

    Um, uh…okay.

  6. Rob says:

    1:

    So, you don’t have a position that you can express?

  7. anonymous says:

    itn’t 1: the same guy that posted a bunch of porn links some time back?

  8. WoW says:

    Hi!

    Rob, I think Number One disagrees with your view on the market. Perhaps he is new to Vancouver and does not know that the laws of economics do not apply here?

    I dunno, just a guess.

    Market is hot? Well Rob, perhaps you are right!

    I know, you didn’t come out and say that, you are predicting a stagnating market and I think that you may be on the mark on this as we go forward.

    Where is RJ and that annoying VD?

    Hope they are well too.

  9. Rob says:

    WoW:

    1 may disagree with my view of the market (I believe that its possible for this market to do something other than crash and burn, even if I’m not sure what that will be or how it will play out – far from a radical position, as I’m sure you agree), but I wish he’d elucidate his own position a bit more. Cryptic comments and standalone links are boring, don’t you think?

  10. Pearl says:

    Rob with regards to the Semlin property that sold. Would you say it is generally a good strategy to list as slightly less than market value in order to generate interest and offers? (i.e. list at a little less than what the market will pay). This is assuming that you want to sell now.

  11. Rob says:

    Its worth pricing things very sharply rather than under market. Comps indicate a likely price. Pricing sharply increases interest, and that can drive the price up.

    I guess what I’m saying is that before the fact the list price on Semlin looked very close to market value, but after we got $45k over ask I can’t really argue that we listed at what market value was.

    However, there’s no way we would have sold had we listed at $660k. So…list as sharply as you can. Don’t list under market. You don’t have to, really (or if you do, go $5k under). Really do your homework.

  12. Whybuywhenucanrent says:

    Hi Peeps,

    I’m still busy with my reno in Portland, things are coming along well.

    It boggles my mind that folks 300 miles north of here are servicing $1m mortgages for a house like the one I have here. I don’t see how the situation can remain stable in a city with a $66K average annual household income. Sooner or later the source of the extra funds will dry up.

    It’s curious that folks haven’t been defaulting in large numbers yet…

    Here in Portland $400K will buy you a great house.
    http://portland.craigslist.org/mlt/reb/2200276715.html

    It’s now been 3 yrs since I sold my property in Vancouver. Prices are about the same, they might have gone up $50K or so, but I was losing about $1K on the place on a monthly basis, so I’m perfectly happy I exited the market when I did.

    WBWUCR’ttmbs?