Thursday, May 29, 2008

May 2008 Inventory and Sales Summary

Spring market eh? Well the chill in the air has cooled our Vancouver real estate market. The only thing red hot this spring is the growth of listings.

Last week we saw the sell/list ratio strengthen over early May, although not significantly. Let's see if we can get a healthy S/L for June.

Sales are down a startling 29% compared with May 2007, and even dipped under last month’s sales. For some perspective last year May 07 sales gained 28% over April 07 sales.

We started 2008 with slightly less inventory than 2007.We are currently up 39% over last year, and 69% over May 30th 2006.

What are you seeing out there? Keep on posting!

Here are some visuals:

REBGV Sales:

Listing Inventory:

REBGV: +39%

Van West: +63%

Van East: +27%

North Van: +81%

West Van: +57%

All inventory charts will be updated for the 31st: INVENTORY CHARTS