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November 25, 2013 Vancouver Real Estate Sales Statistics

Sweet 3bdrmTwnhsSurrey

November 25, 2013 Vancouver Real Estate Sales Statistics for the REBGV and FVREB.

Real Estate Board of Greater Vancouver (REBGV) results

Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2013-11-25114$887,206$849,560$37,6464.2462

Fraser Valley Real Estate Board (FVREB) results

Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2013-11-2547$555,870$533,033$22,8374.1175

Results for Both Boards

Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2013-11-25161$790,481$757,158$33,3234.2266

How to read these tables

The first column is date, which is self-explanatory. The second is the number of sales in the specific area. Sales include detached, attached, apartment, land only and multi-family. Multi-family tends to include smaller multi-unit buildings rather than apartment buildings, which usually turn up on the commercial MLS system. There are also few multi-family sales each week. The third column is average list price for the day – in other words, the total of all list prices divided by the number of new listings. The fourth column is the average sales price of all sales reported that day. the sales are reported after subjects are removed, and can be from 0 to perhaps 14 days old. Listings, by comparison, are generally brand new, and lag by at most 3-5 days (in times of high listing volume the lag can be a little more, but not as much as with sales).

The fifth and sixth columns show the difference between average list price and sell price in dollar figures and percentages. Hot markets see properties sell within 1%-1.5% of list price.

The last column is days on market (DOMs). In most real estate markets 60 DOMs is by no means bad, and would often be regarded as great. In the Lower Mainland, especially compared to the last decade, it is high. Hot markets see DOMs like 30.

 

Snapshot

New Listings 214

Price Changes 104

Sold Listings 161

Sell/List

The sell/list is a simple measure of demand that divides a given number of sales by the number of new listings taken during the same period. It is expressed as a percentage. In a hot market, we sell more properties than we list, so the number exceeds 100%. Markets like that commonly see multiple offers over list price. Slow markets, on the other hand, are characterized by low sell/lists, below 35%.

Today’s sell/list was 75.23%

Vancouver real estate sales statistics are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, neither the REBGV nor Rob Chipman are liable for any errors.


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