Vancouver Real Estate A Box of Chocolates
Posted July 29th, 2008 in Real Estate, Statistics | 
Chocolates
As Forrest would say “life is a box of chocolates”. The Vancouver West Real Estate Market seems to be delivering some distasteful sweets for home sellers this week.
Weekly Glance
- This weeks glance shows 1013 listings are available for Buyer consideration.
- Of that number only 4 have been registered at the board as being sold with an average of 67 days at market.
- With a total of 364, 1 in 3 listed properties are reducing their prices.
- Average Price for the West side homes are hovering just above the $2 million mark.
- 4 listings exceeded their mandate and did not sell.
Synopsis
Last week we surpassed the 20,000 total listings mark. With this level of inventory it is reasonable to expect the market to continue with increasing price reductions throughout August. As more listing mandates expire we may experience a substantial drop in the total listing count for the board. Sales will continue to remain sluggish as Buyers wait for further and deeper price reductions.
Got a Vancouver Real Estate question? Always happy to help. Call or send me an email.
Larry
