Sorry, all, but its been extremely busy. Furniture delivered to the office (the result of that flood damage), temporary help at the front end (my regular admin assistant is leaving to go to Emily Carr ;-), the reno is demanding (I’m putting on the siding, and it looks great), and then, of course, there’s the regular business.
If you’ve been waiting for the daily numbers in order to make a decision, don’t worry. Real estate moves more slowly than the TSX. And if you get really antsy, remember, you can always just pick up the phone and give me a call. And so, to the numbers:
Tuesday saw 287 new listings and 77 sales, for a sell/list of 26.83%. That’s pretty low. In fact, since I’ve been maintaining this spreadsheet its only gone lower once – January 5, this year, 26.35%. Other notable lows? October 18, ’06 – 26.91%, and May 11, ’07 – 27.03%. Rolling sell/lists in those days hit the 40s and even the high 30 percentiles.
Wednesday we saw 219 new listings and 187 sales, for a sell/list of 85.39%
Today we had 267 new listings and 157 sales for a selllist of 58.80%. The 14 day rolling sell list has fallen from a high on the 8th of 94.33% to 79.06% today. Over 90s have risen, reaching 2,417, but inventory is still lagging, only increasing to 11,309.
Will it start a panic (or a chorus of hurrays) if I say we’ve seen our own, in-office mini-jump in listings and price reductions? To be fair we’ve actually still got more buyers than listings (and so low inventory makes sense to me).
For people a little confused by the sub-prime issue, today’s National Post had a solid primer on it.
The Post also had an interesting article on, well, monkeys and masterpieces. I long ago heard someone say that given enough time and enough typewriters a chimpanzee could reproduce all the great works of English literature. It makes sense, given enough time. The actual theory belongs to T.H. Huxley, a 19th century evolutionary biologist, and grandfather of Aldous Huxley, of “Brave New World” fame. Of course, Huxley theorized pre-internet. Andrew Keen wrties in the Post today that the internet has essentially given us enough typewriters and enough monkeys, and the result is, well, underwhelming. Its a good read that I’m sure will spur some controversy (“the blind leading the blind”…? 🙂 )