There were 300 new listings today and 127 sales, for a sell/list of 42.33%. Its not a surprise to see listings slow down somewhat (the Saturday shift may well have taken the heat off data entry) but there’s no escaping that we had a very low sell/list. Anyone looking forward to the 11,000 plateau must be feeling good right now.
Of the sales only 12, or 9.45%, went over list. 2 of those were on the Westside. 1 was in East Van, 2 in Richmond, 1 in New West, 2 in Burnaby, and 4 in the Fraser Valley. Price reductions were spread very evenly.
Average list price of the sales was $495,111; average sales price was $486,823, a difference of $8,288, meaning the average sale went for 1.9% under list price. 11 properties went for list price. One property went for 30%($7,900) under list while the highest over list was 5% ($21,000) over.
There were 4 million dollar plus properties sold, with none over $2 million. Average days on market to sale was 33.
There were 124 price changes, of which 8, or 6.45%, were increases. The average original list price of price changes was $498,311; the average new price was $481,213, a difference of $17,098, meaning the average price change was -2.95%.
Inventory in my target area rose to 10,881, while over 90s reached to 1,843, or 16.94%.
0.83% of all active listings in my target area had their prices reduced today.