Yatter Matters

Where Were You

For any of us who read a newspaper, a blog, twittered, watched CNN, CBC, CTV or drew breath, the last few days were a new low in our history. It is almost impossible to not be aware that we have just experienced an unprecedented financial global meltdown.

Pundits, politicians and the guy on the street are all trying to figure out what tipped the bucket. Those same folks are now trying to figure out how to get it to stand up.

It’s massive, it’s pervasive and without question it will affect each and everyone of us in the Vancouver Real Estate world at every level.

Curiosity requires a review of how it may have affected the Vancouver West Side Real Estate market in the short term.

Before	After
Sept. 14, 2008 to Sept 28, 2008	Sept. 29, 2008 to Oct. 13, 2008
Active Listings - 1025	Active Listings - 1015
Sold Listings - 22	Sold Listings - 12
Price Reductions - 402	Price Reductions - 387
Sold Days On Market - 55	Sold Days On Market - 64
Average Sold Price - $1,971,886	Average Sold Price - $1,710,250

So Far

• Fewer homes sold
• Price reductions slowed a little
• It took longer to sell your home
• Average price drop was over $250,000
• Continued flood of listings on the market

Not Ready for Prime Time

• Today, the U.S. did not get to eat Turkey
• They get to eat theirs in a few weeks
• Today we get to vote for one.
• The stock markets around world have regained robustness.

Will it get better? Stay Tuned.

Got a Vancouver Real Estate question? Always happy to answer it.

Call or send me an email

Twitter or Skype me at YatterMatters.

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.