There were 244 new listings yesterday and 121 sales, for a sell/list of 49.59%. When did breaking a 50% sell/list become a goal? It probably pays to keep in mind that in many, if not most markets, 50% sell/list is outstanding.
Inventory hit 8,964, of which 2,450, or 27.36% were over 90s.
I received two interesting contacts this week from California Realtors. Both of them found me on the blog. Both of them are looking for buyers.
One, Todd Bernstein of Coldwell Banker in Encino telephoned me to chat about Vancouver, and to survey my opinion of Canadians buying in LA, given the strong dollar and the attractive pricing. Linking those two things together may not be rocket science, but picking up the telephone and pursuing the idea is nuts and bolts business savvy. If you don’t even ask for the order you’ll never get it. I shared with Todd that his idea did have traction here, and was appearing in print (Diane Francis/National Post) and on talk radio (Bill Good/CKNW), but that the prevailing attitude seems to be that Canadians should wait a little longer for US bargains. Be that as it may, the idea of LA / California / US property purchase is one to keep in mind. If, as some argue, prices here don’t ever drop enough to offer a good chance of subsequent growth, we’ll need to consider purchases elsewhere.
A second Realtor, Melanie Narducci, of Keller Williams San Francisco Properties, contacted me through email on a similar, but slightly different mission. Melanie wants to sell property in several areas, from Ireland to Italy, but thought that San Francisco might be a natural match for Vancouverites. If you’ve been to San Francisco you might agree.
I initially hesitated putting either of these guys on the blog, because I’m sure they’ll attract a lot of undeserved fire, but after 15 seconds decided that they were both grown ups and could take it 🙂 The coincidental nature of their contct with me, the US opportunity angle, the idea of buying outside Vancouver to find growth, and the simple fact that they can offer insights into markets that we often comment on makes their presence very valuable.