Posted September 8th, 2009 in Real Estate, Statistics | 
August’s month of picture stories continues.
This picture of Vancouver West’s Attached market parallels the detached homes.
Notably, Active Listings have dropped significantly. The listing drop seemingly matches Detached’s yellow dots quick-dry characteristic.
Units Listed blue bar, followed a similar pattern, growing from Mar 09 onward, then falling in August.
The red bars of Sales Volume, in step, inspired in Mar 09, appears now to fall below the flush of sales experienced from April to July.
The drama of fewer Active listings, a reduced number of New Listings combined with slowing sales might suggest the first ring of an alarm clock. It will be interesting to witness September’s results to see if that alarm has a snooze button.
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*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.
Larry
Listings > Sales but active listings dropping = expired listings and properties pulled off the market…no?
Fish10
Fish,
Comments similar to yours have appeared in the past on other blogs. It’s not certain that this explanation will become the gospel of Active Listings according to YatterMatters but, by way of explanation, here’s hoping it helps.
In order to make some sense of these words it needs to be understood that there are two elements at play – Total Listings and Active Listings. Both are used as measurements of listing activity for a prescribed period.
The confusion lies in the difference between the two elements.
1. ACTIVE Listings represent those listings that are properties actually (actively) for sale in the market place in a given period.
2. Total Listings represent all listings that have been registered on MLS in that same period.
Active listings are the ‘net’ number of listings available at market once the variables of expired, canceled or terminated listings are taken into account.
The number of Active Listings changes by the hour with the wish and wash of expired, canceled, terminated or sold listings. Without understanding Total listings the Active listings number is often confusing.
Here’s a very not so pretty example.
In 30 days it’s possible, though unlikely, for you to list, cancel – re-list, terminate – re-list, expire – re-list, sell – and have that buyer re-list and sell again. You’ll agree, that at some point that one property was an active listing. But how many times do you count it as such. Is it counted as Active or is it counted as part of the Total? The listing will be counted in the Total number of listings because at one point in time it was ACTIVE though it might not be Active at the precise moment the count is taken. (the example assumes you got unconditional releases for all events – but that’s another story.
While Expired, terminated, sold and canceled listings are noted for the record as no longer being at market at a given point in time, as in the example above, they could revive to once again become an Active listing and be part of the Total. If Active at the time the count were taken, it would be part of the Active number.
At any point in time one chooses to set a marker as a ‘net’ indicator of the market place. Total – variables = net (Active Listings)
That marker is much like a load of cabbages on a truck travelling over a bumpy road. Ultimately you can only count the load that reaches the dock on time. It is the NET amount of listings (cabbages) available at market at a specific time that is counted as Active.
The Total Number of listings in a period while interesting, do not reflect the listings actually available for sale at a given point in time. Like that truck load of cabbages, it left with a total but, some cabbages fell out and were left on the road, others were picked up and thrown back on – the load varies. What counts are those cabbages that reach the dock. They like the net ACTIVE LISTING number, is the only number that counts when attempting to provide a reasonable accounting of a market place at a given point in time.
For the record:
30 Days Vancouver East and West – Period: 08/09/2009 – 09/08/2009
(To save you time, these numbers do add up)
Active Listings – 1030
Cancel Protected – 46
Expired – 66
Sold – 236
Terminated – 58
Total Listings – 1436