There were 208 new listings Friday and 230 sales, for a sell/list of 110.58%. Of the sales 34, or 14.78%, went over list. 12 of those were on the Westside. 5 were in East Van, 1 was in Richmond, 1 in Port Moody, 1 in New West, 7 in North Van, 2 in Maple Ridge, 1 in Coquitlam, 3 in Burnaby, and 1 in Surrey.
Average list price of the sales was $571,288: average sales price was $549,892, a difference of $21,396, meaning the average sale went for 1.73% under list price. 25 properties went for list price. One property went for 90.29%($3 million) under list while the highest over list was 15% ($152,000) over. (The huge underlist was, I think, a typo; list price was 3,398,000, while selling price was reported as $330,000; I’m sure it will be corrected, but it contributes to the larger than average lp/sp gap). There were 18 million dollar plus properties sold, with 3 over $2 million. Average days on market to sale was 40.
There were 74 price changes, of which 3, or 4.05%, were increases. The average original list price of price changes was $569,247; the average new price was $556,248, a difference of $12,998, meaning the average price change was -2.66%.
Inventory in my target area dropped to 11,734, while over 90s rose, reaching 2,226, a percentage of 18.97%.
0.61% of all active listings in my target area had their prices reduced today.