Vancouver’s Mountain of Listings

Mountains

Vancouver’s backdrop is a wall of mountains. We have famous ones called Grouse, Cypress and Seymour. We even have mountains with Lions. Yet, with all this, it is not enough!

Never satisfied, the lower mainland and Vancouver real estate in particular, are building a mountain of listings as Vancouver’s homes for sale reach higher and higher levels.

The Climb

Amongst the three real estate boards the past month saw a total of 1,308 listings added to the total of 27,744 homes for sale. As of June 01, 2012 Vancouver alone accounted for 17,835 of that total for an increase of 15.3% above June of last year.

Grouse Grind

It remains uncertain when the number of listings will begin to subside. In the interim it will for Vancouver home buyers, prove a physical challenge equal to Vancouver’s famous Grouse Grind as they sort through all the listings to find that ‘just right’ home at the ‘just right price’.

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:

ManfredSteyn Says:
June 13th, 2012 at 12:37 pm

Thanks again for the great data, Larry. It will be interesting to see if we hit the mid-Summer plateau in listings as we did last year.

BubbleBoy Says:
June 13th, 2012 at 3:47 pm

Manfred,

Listings don’t need to increase for the market to turn sharply. If demand falls sharply, there are enough listings now for the market to turn fairly quickly. Usually there are less buyers in the summer and through the rest of the year.

stats don't lie Says:
June 13th, 2012 at 7:10 pm

30,000 anyone?

Smoking Man Says:
June 13th, 2012 at 8:40 pm

Larry,

Any coffee talk updates? What is the word on the street?

June 13th, 2012 at 9:10 pm

@stats
are you a betting man?

June 13th, 2012 at 9:14 pm

@smoking man
Indecisiveness. Lots of potential buyers who have trouble crossing the line. Those that do, negotiate hard.

vanpro Says:
June 14th, 2012 at 12:41 pm

Larry: instead of “indecisiveness”, perhaps better term is “phobia-of-high-pricedness”…..

BubbleBoy Says:
June 14th, 2012 at 2:15 pm

Larry,

No mountain today. MLS glitch? There are many attached and condo listings that I saw yesterday, that are now not showing.

Boombust Says:
June 14th, 2012 at 4:58 pm

Hi Larry,

I sure appreciate your stats/effort…it must be quite time-consuming for you.

Say, what do you think MAY be the BIG TOTAL when you add in all the new builds in the areas such as Burke Mtn. in Coquitlam, etc.?

As far as I know, they are not listed on the MLS are they?

I do wonder, as I drive around the area. Lots of product just “sitting”.

June 14th, 2012 at 5:38 pm

@vanpro
Phobia – no. Caution sure. There are a lot of buyers out there who are shopping and comparing. My sense is that they are being intelligent about their choice. A pleasant change from gunslinger multiple offers.

June 14th, 2012 at 5:39 pm

@bubbles
don’t know haven’t noticed this

June 14th, 2012 at 5:42 pm

@Boom
always appreciate warm fuzzies

Really don’t know what the BIG TOTAL might be especially out your way. Lots of fresh plywood around the city as well. I would disagree that they are not on MLS. I suspect that would equate to shooting yourself in the foot in this market.

Boombust Says:
June 14th, 2012 at 6:49 pm

Perhaps, Larry, it’s just that when I look at my target areas each day, none of the “new” stuff is ever listed.

So, I can’t help but think they are holding out, hoping to sell them without having to deal with realtors on the MLS.

Oh, BTW, you’re welcome.

stats don't lie Says:
June 14th, 2012 at 9:06 pm

Larry – no chance I’d take that bet now — from the Van RE blogs, it sounds like a major purge of listings has happened over the past couple of days.

Was this all coordinated by the REBGV/CREA? I have a feeling that your “bet” was a sure thing?

June 14th, 2012 at 9:48 pm

@stats
With tongue in cheek – What more can be said – REBGV/CREA are omnipotent! 🙂

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