Vancouver’s Mountain of Listings
Posted June 13th, 2012 in Real Estate, Statistics | 
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
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’.
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.
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.
30,000 anyone?
Larry,
Any coffee talk updates? What is the word on the street?
@stats
are you a betting man?
@smoking man
Indecisiveness. Lots of potential buyers who have trouble crossing the line. Those that do, negotiate hard.
Larry: instead of “indecisiveness”, perhaps better term is “phobia-of-high-pricedness”…..
Larry,
No mountain today. MLS glitch? There are many attached and condo listings that I saw yesterday, that are now not showing.
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”.
@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.
@bubbles
don’t know haven’t noticed this
@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.
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.
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?
@stats
With tongue in cheek – What more can be said – REBGV/CREA are omnipotent!