Sothebys International Realty Canada
 
Wednesday, February 25, 2009

Market snapshot

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Market Snapshot

Just had a quick look at sales in the region (Real Estate Board of Greater Vancouver). Over the last 30 days there were a total of 1,122 sales of all types (apartments, houses, townhouses and even manufactured homes).
 

On average these were listed for 67 days.

 
In terms of the most active areas these were:
  1. Vancouver West (296)
  2. Richmond (162)
  3. Burnaby (128)
  4. Vancouver East (119)
  5. North Vancouver (72)

What of prices?

 
Well looking at the sold price versus the list price tells a story of buyers squeezing the sellers across the board.
 
For houses there was an average $72,300 off the list price. For apartments this was $22,978 and for townhouse $21,901. Even this might be understating the ability of buyers to get bargains - 40% of listings had already been reduced prior to sale.
 
I look forward to seeing the board's official statistics.
Sue and Frank Gerryts
Sue's Cell:604 763-3563
Frank's Cell:604 613-3442
Office:604 632-3300
Home Fax:604 676-2556