We talked about the listing entry back up at the Board and what the staff entered first. You’ll soon see what they concentrated on today. Based on the extra hours and yesterday’s lower lisitng count, I even speculated that the listing rush might have abated. I should have stuck with my earlier prediction of higher listings.
There were 343 new listings today and 158 sales, for a sell/list of 46.06%. Of the sales 17, or 10.76%, went over list. 3 of those were on the Westside. 3 were in East Van, 2 in Richmond, 3 in North Van, 2 in Coquitlam, 2 in Burnaby and 2 in Surrey.
Average list price of the sales was $505,326; average sales price was $498,971, a difference of $6,355, meaning the average sale went for 1.5% under list price. 26 properties went for list price. One property went for 11%($126,000) under list while the highest over list was 15% ($81,000) over.
There were 6 million dollar plus properties sold, with none over $2 million. Average days on market to sale was 32.
There were 77 price changes, of which only 5, or 6.49%, were increases. The average original list price of price changes was $595,627; the average new price was $574,596, a difference of $21,031, meaning the average price change was -2.93%. Average days on market to price change was 44 (is that number dropping?)
Inventory in my target area rose to 11,475, while over 90s dropped to 1,835, a percentage drop to of 15.99%.
0.63% of all active listings in my target area had their prices reduced today. 14 day rolling sell/list was 58.72%.