…and it looks as if VHB is going to be wrong! (Unless we have a monster sales day on Monday the 14th).
There were only 370 new listings today but with only 100 sales the sell/list plummetted to 27.03%. It’s been lower (January this year and October last year), but that’s still pretty low!
Of the sales 12, or 12%, went over list. 2 of those were on the Westside. 1 was in East Van, 1 in North Van, 1 in Coquitlam, 3 in Burnaby and 4 in Surrey.
Average list price of the sales was $506,474; average sales price was $498,351, a difference of $8,123, meaning the average sale went for 1.58% under list price. 5 properties went for list price. One property went for 7.5%($44,000) under list while the highest over list was also 7.5% ($30,000) over .
There were 5 million dollar plus properties sold (5%), with 1 over $2 million. Average days on market to sale was 32.
There were 27 apartments (27%), 5 duplexes (5%), 42 houses (42%) and 22 (22%)townhouses sold.
There were 54 price changes, of which 5, or 9.26%, were increases. The average original list price of price changes was $540,524; the average new price was $522,146, a difference of $18,378, meaning the average price change was -2.49%. Average days on market to price change was 52 days.
Inventory in my target area rose to 11,915, while over 90s dropped to 1,706, or 14.32%.
0.41% of all active listings in my target area had their prices reduced today. The 14 day rolling sell/list was 60.48%.