Vancouver Real Estate’s Titanic Voyage

Titan Wonders

Total Listings in the Vancouver, Fraser Valley and Chilliwack boards continue to climb.

In a matter of days the Titan accumulation of listings may eclipse months in advance, the all time high achieved last year.

Total Listings

Perspective

At this time last year, total listings reached 21,705 units. April 12, 2012 exceeded that number by 2,417 units to attain a total of 24,122 a number not far off last year’s high point of 25,248 attained on October 1, 2011.

In recent days we have seen total listings leap higher by 200 and more units per day. Assuming this accumulation continues, it seems feasible to suggest that Total Listings will surpass last years record this month of April – a full five months ahead of last year.

On a Boat

On a boat called ‘Titanic’ such a load of listings might not by themselves, sink such a sturdy craft. However, when the rain soaked weight of dismal sales which in Vancouver is currently recorded as -29.2% is loaded in addition, the stability of the vessel becomes increasingly questionable.

It is suspect that the combined weight of both an extraordinarily high number of listings and depressed sales may not need the services of an iceberg to cause upending calamity. Indeed, as many have warned, it may only be a small ripple of a change in interest rates that will be needed to destabilize Vancouver Real Estate’s Titanic voyage.

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About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

When Life Moves You - contact Larry:

*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.

Reader Comments:

buffates Says:
April 13th, 2012 at 6:55 am

Have you ever owned a stock that has gone “no bid”. Nothing is scarier than owning something and having no one to sell it to…

vanpro Says:
April 13th, 2012 at 8:46 am

Good call Larry!

masrour Says:
April 13th, 2012 at 9:46 am

Thank you Larry for all information you provide.

Re-diculous Says:
April 13th, 2012 at 1:47 pm

Thanks Larry, I appreciate your honest assessment.

Vangrl Says:
April 13th, 2012 at 7:22 pm

Thanks Larry, have a great weekend.
Go Canucks !

Jordy Says:
April 14th, 2012 at 6:53 pm

Spot on Larry!

Anon Says:
April 15th, 2012 at 3:23 pm

Every realtor I talk to says “the market has no where to go but up”

I find anyone that would make this statement to be highly suspect as I don’t believe any market can increase infinitely.

I appreciate you posting these numbers, and for not trying to “spin” them in positive ways.

In my mind, you are a realtor I could trust.

April 16th, 2012 at 10:42 am

Thanks for sharing this great value article with us.
These statistics are great to know as well.
Cheers Larry!

April 17th, 2012 at 5:28 am

Inventories in my market are low but my gut says that they will climb again this summer. I think there are more who want to sell than there are those who want to or can buy.

Nice post Larry. I followed you from Facebook.

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