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Sales Stats for Thursday 30

There were 138 new listings…
Back On Market Listings 7
Price Changes 110
Sold Listings 167

Sell/list 121.01%

That’s high, even for this time of year.

Stats are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, the REBGV is in no way responsible for them. I take all responsibility for any errors.


2 Responses to “Sales Stats for Thursday 30”

  1. Turner says:

    Hi Rob,

    I found your site recently and have checked your stats for the past couple weeks – helpful stuff.

    I’m a bit confused about the Nov 30th numbers, as you seem to be indicating that the high sell/list ratio is a sign of strength. The way I read the numbers were that the average DOM of this latest day of sales was high, as was the difference between list/sale price. Doesn’t this simply mean that on aggregate this ‘bundle’ of sales was rather old, and the prices likely reduced quite a bit to clear?

    Could this be a reason for a high sell/list ratio?

    Cheers

  2. Rob says:

    Turner:

    High list/sell indicates (to me) that demand is high relative to supply. It could well be that old listings are selling, as you surmise from DOMs. But, why would that be? Maybe because the average listing that came on the market 64 days ago was over-priced at the time, but now the market has caught up through rising prices?

    That’s just one speculative reason, of course. You threw out another one – listings came on two months ago, and rather than the market catching up the prices were reduced and they were cleared out. (It’s good to see that someone looks at the numbers and ponders them, btw!)

    Let me just say that usually I’ll call a high sell/list figure a sign of heat, as opposed to strength or health. We can have smoking sell/lists with the market going up or the market going down.

    Last point – that’s one day’s numbers. More noise, less trend. Let’s see what the weekly numbers look like and see how they compare to last week. There can be a fair bit of fluctuation day to day.