It looks like the lisitng rush has ended and staff can enter a few sales. There were 220 new listings Friday and 253 sales, for a sell/list of 115%. Of the sales 34, or 13.44%, went over list. 15 of those were on the Westside. 5 were in East Van, 1 was in Richmond, 1 was in Port Coquitlam, 3 in New West, 1 in North Van, 1 in Maple Ridge, 1 in Coquitlam, 1 in Burnaby and 5 in Surrey.
Average list price of the sales was $526,619, while the average sales price was $517,001, a difference of $9,618, meaning the average sale went for 1.65% under list price. 35 properties went for list price. One property went for 35%($460,000) under list while the highest over list was 16% ($112,000) over . Average days on market to sale was 38.
There were 15 million dollar plus properties sold with two over $2 million.
There were 97 price changes, of which 9, or 9.28%, were increases. The average original list price of price changes was $531,630; the average new price was $517,255, a difference of $14,375, meaning the average price change was -2.55%. Average days on market to price change was 48 days. 0.72% of all listings reduced their prices Friday.
Inventory in my target area dropped to 12,141, while over 90s dropped 1,932, or 15.91%. The 14 day rolling sell/list bottomed out at 64.72% Thursday, but climbed back to 67.90% Friday.
I’ve had a few calls from Realtors on listings that I’ve recently sold. I’m sure the sales reports have gone in, but the lisintgs still appear active. The Realtors who have called have expereinced this on other listings. I think last weeks rush of listings slowed down sales data entry, meaning Friday was a sales catch up day, not a particulalrly hot sales day. Mondays usually have higher listing count because of the weekend’s listing activity, but if the rush of the first two weeks of July has taken off the slack we may see sales numbers a little higher than they really are as more backed up sales data is entered.
On the other hand, tomorrow may bring another big listing day!