The Inside Scoop....

Over the past week, we have seen the listing inventory stablize, and sales increase slightly over previous weeks.  There are now 3,597 properties for sale in Vancouver's West Side, compared to 3,268 at the end of April.  The sale to list ratio for the past week was 58%, up from the past 3 weeks, which were (respectively) 47%, 38% and 44%.  Bank of Canada interest rates will be announced next week.  Some fixed term mortgage rates have dipped by .10% over the past couple of weeks, and "prime minu ... Full Article...

One cannot help but notice a lot of "For Sale" signs in most neighborhoods.  The listing inventory in the West Side of Vancouver is now 3,563, an increase of about 1,000 units in the past 60 days.  In spite of a rising inventory, the weekly sale to list ratio has remained fairly consistent.  But what is noticeable is that we are seeing fewer "over list" sales, and properties which were priced in anticipation of escalating prices are being reduced.  Properties that are well priced are selling qu ... Full Article...

Detached:  The current Housing Price Index released by the Real Estate Board of Greater Vancouver indicates that the Benchmark Price of a Detached home on the Westside is now $1,656,986, a positive change of 47% from one year ago.  The number of new listings for the month of April, 2010 has increased by 68.2% from March, but the number of sales also increased by 60%.  All in all, the Detached market on the Westside has remained strong, whereas we may be seeing some signs of weaking in the Condo ... Full Article...