September Report

September proved to be an exciting month for me, being voted Best Realtor by you all in the Best of Vancouver contest and then being quoted in the Macleans cover story on housing.

Unfortunatly our real estate market reality is pretty dull. More of the same market trends we've seen over the last many months: high inventory,lower sales and falling prices. Inventory has roared to 21,002 listings(+72% YOY) and sales continue to be well off from last year but an improvment MOM at 1619( -45% YOY). The MOI (months of inventory)has also stayed very high at 13 months compared with 4.4 months last Sept.

INVENTORY

 

SALES

MOI

Do you think that the stock market bloodbath will have any affect on our local real estate? Will investors sell in fear of a global recession? Or perhaps put money back into tangible assets like real estate?

All sub area inventory charts here: INVENTORY

Months Of Inventory

These numbers are for August.

It looks like my home town of North Vancouver is one of the better markets to be selling a home right now. For such a large market, West Vancouver is struggling. What will September bring?