East Side 7 Days

Then and Now

A one week snapshot of the east side market shows a dramatic change is market state.

The week of the 4th to 11th of November 2009 had lots of listings, lots of sales, high price and a shorter number of days on market.

The week of the 4th to 11th of December 2009 is quite different. Listings are down though not a drastic amount, sales have almost disappeared, sold prices have dropped and the time at market has increased.

Why?

• November recorded the 2nd highest number of sales since 2005.
• Those who had planned to buy did.
• Some of the warnings from the Bank of Canada and others of the past week may be taking hold.
• People have started to think of Sugar Plums and real estate is on the back burner.
• REALTORS® have decided to take a longer holiday this year as they spend the November bonus.
• Everybody just got tired of the hype and have decided to take a break.
• Indecision

Street Talk

In the last few weeks of January the interest in Vancouver Real Estate usually starts to catch fire. What we don’t know is how much the rush of the Olympics will interfere.

Street talk hears a lot of we’ll list in January and catch the spring market. Not unusual but as noted, this spring may be different as Vancouver Sellers and Buyers untangle the 5 rings.

Thinking of Buying or Selling your Vancouver home? Pour a cup of coffee and let’s talk.

*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.