Vancouver Condo Real Estate Video Blog #441 - November 10, 2009
It's November - Has the Buyer Slow Down Arrived in Downtown Vancouver?
Ian Watt video blogs about the 237 new listing versus the 138 sales stats for the Downtown Core. It appears now that we are in November, the buyer slow down has arrived, which is typical for this time of year. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs.
Ian Watt: Hi Good Morning, it's Ian Watt in Downtown Vancouver. Every morning I wake up I planking the sales from the day before into an excel spreadsheet. What I do I track the sales because the Downtown core as far as the MLS stats is concern are not available from the Real Estate Board. What they are, are the West Side Stats which include Marpole, Point Grey etc. for condos from Main Street West. So it's not really an accurate a point of view for the Downtown core. So I always planking the sales see what's going on and their are total listings are first time since June have been over a thousand units in the Downtown core. They're usually around 900 since June and this is the first time that we've seen that go over a thousand. But the most interesting thing is because the sales has been very balance in the market it's been very hot as far as the Downtown core Condos are concern. What we are starting to see right now in the last two weeks or ten business days. What we're seeing is 237 new listings and a 138 sales in the last two weeks so the balance is not really there. There's more inventory now and now we're starting to get in to November. You'll be very interesting to see what happens. I'm not saying that the market is flooded but it is definitely swaying into a more balance market that's for sure. my name is Ian Watt. If you have any questions. You can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!