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Weekly Vancouver Real Estate Stats – April 11-17

Total inventory for the REBGV/FVREB was 21,349, of which 4,706, or 22.04%, were over 90s.

For the REBGV the numbers were 13,658, 2,895, and 21.20%

For the FVREB the numbers were 7,691, 1,811 and 23.55%.

There were 1,514 new listings, 530 price changes and 806 sales in the REBGV, for a sell list of 53.24%.

In the FVREB the numbers were 670, 329 and 322, for a sell/list of 48.06%.

The combined numbers were 2,184, 859 and 1,128 and a sell/list of 51.65%.

Sell/list up from last week. Prices not much changed (see the graph). Inventory is still climbing, and, significantly, over 90s are still rising. Look for a retreat in sales prices if this continues.

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: SalesApril172011REBGV.csv

All Properties
Sales Average List Price of Sales Average Sales Price Difference ($) Difference (%) DOM
806 $815,405.19 $804,412.55 -$10,992.63 -1.26% 35
Attached Properties
Sales Average List Price of Sales Average Sales Price Difference ($) Difference (%) DOM
464 $519,042.69 $507,974.31 -$11,068.38 -1.81% 36
Detached Properties
Sales Average List Price of Sales Average Sales Price Difference ($) Difference (%) DOM
336 $1,220,791.28 $1,211,337.22 -$9,454.06 -0.40% 33

Data for File: SalesApril172011FVREB.csv

All Properties
Sales Average List Price of Sales Average Sales Price Difference ($) Difference (%) DOM
322 $524,934.70 $510,323.44 -$14,611.25 -2.92% 55
Attached Properties
Sales Average List Price of Sales Average Sales Price Difference ($) Difference (%) DOM
95 $283,930.20 $275,772.83 -$8,157.37 -3.08% 62
Detached Properties
Sales Average List Price of Sales Average Sales Price Difference ($) Difference (%) DOM
215 $632,581.99 $615,499.67 -$17,082.32 -2.79% 49

Data for File: SalesApril172011REBGVFVREB.csv

All Properties
Sales Average List Price of Sales Average Sales Price Difference ($) Difference (%) DOM
1128 $732,487.19 $720,461.58 -$12,025.61 -1.73% 41
Attached Properties
Sales Average List Price of Sales Average Sales Price Difference ($) Difference (%) DOM
559 $479,086.19 $468,512.52 -$10,573.66 -2.03% 41
Detached Properties
Sales Average List Price of Sales Average Sales Price Difference ($) Difference (%) DOM
551 $991,272.23 $978,841.63 -$12,430.60 -1.33% 39

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.


8 Responses to “Weekly Vancouver Real Estate Stats – April 11-17”

  1. vanpro says:

    Thanks again Rob for your comprehensive weekly stats!

    Inventory growth is suprising given the level of “hot market” hype and ever-increasing prices – perhaps the sheer crazy high level of prices is finally having an effect?

    REBGV Inventory now at 13,658 – that is UP:

    + 63% since Jan.2 (8,415)

    + 47.3% since Jan.16 (9,274)

    This is higher and faster inventory growth than 2008 and rivalling highest and fastest in last 10 years.

  2. 1 says:

    Rob, thanks.

    Over 90s – interesting – so you feel prices may weaken this month?

    Interest rates still very very low.

  3. Rob says:

    1:

    Let’s put it this way: I don’t think rising over 90s lead to falling prices. I think they can and often do occur at the same time, like clouds and rain. Clouds don’t always lead to rain, but often they occur at the same time. Why? Because they’re different aspects of the same thing – water. Over 90s and falling prices are, I think, different manifestations of the same thing – falling demand.

    So, I don’t see prices falling or rising in any sustained way simply because my powers of prediction are poor, but short term if the over 90s and inventory lines on the graph continue to close the gap between each otehr I think we should see price drops come hand in hand with that.

    Vanpro:

    I don’t think its hype. Prices go up when the market is hot, and we’ve seen that a bit. Still demand and supply are dynamic forces, and its not how fast they move, or with what force they move, but how they move in relation to each other. I don’t think they’ve been moving in either force or speed this year. I think they’ve been moving slowly, and at almost the same speed, with demand catching up a bit, but on;y a bit.

    That’s enough (in my uneducated viewpoint) to explain good sales (not red hot record setting, but good), up and down price movements, along with growing supply. Inventory can only grow so much before there is a hangover effect, though. I think you were right to ID this early in the year, and unless all of a sudden demand increases we should see a balancing of demand and supply meaning no more price growth, lower sell/lists, and a bit of an early summer slowdown. Just guess, mind you. I’ve got no inventory right now and am confident we could sell well priced stuff quickly right now.

  4. vanpro says:

    Rob,

    Yes, I agree that time will tell which factor (supply/inventory or demand/sales) will hold the day.

    Btw, I appreciate your continued weekly stats for both the REBGV and FVREB which are comprehensive and do not truncate/edit the data (i.e. you do not leave out certain areas as other realtor(s) do). This gives us a weekly / interim snapshot of the entire REBGV & FVREB data between monthly stats releases by those respective boards that allows us to do an apples-to-apples comparison/analysis during the month. I believe you are the only realtor to provide this data. So, well done. Thanks!

  5. Fart jokes says:

    Rob,

    Any comments on the mood of MSM – http://www.theglobeandmail.com/globe-investor/personal-finance/rob-carrick/why-renting-is-beginning-to-look-like-a-great-deal/article1990160/

    will mass psychology shift?

    interest rates need to climb, but that is expected to happen in the months ahead – then what?

  6. Anonymous says:

    Would love to see the Inventory by Month graph on the left side updated if you have the time, Rob.

  7. WoW says:

    Hi Rob,

    Is inventory still ticking up?

    Romeo Jordan – where is he? And Vomitfrog?