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Ian Watt Personal Real Estate Corporation - Sotheby's International Realty Canada

Blog by Ian Watt

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Ian Watt's Vancouver Condo Real Estate Week in Review for May 30 2010

Vancouver Condo Real Estate Video Blog #561 - June 7, 2010

Ian Watt's Vancouver Condo Real Estate Week in Review for May 30 2010

Ian Watt video blogs about about the week of May 30 to June 5, 2010 in Downtown Vancouver Condo real estate including the areas of Coal Harbour, Downtown, Yaletown (False Creek North), Gastown and the West End. 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 afternoon. It's Ian Watt in Downtown Vancouver. It is my weekly recap starting with May 30th onto today, and today is June 4th if I remember correctly. And as of 5 o'clock on June 4th we had a 137 new listings in five days for the Downtown core. We had a 105 price reductions and only 63 sales and that's over the past five days in Gastown, Yaletown, Downtown, Coal Harbour, and the West end. Now, that means there were twelve sales a day or just a little above twelve sales a day. That means there are 27 new listings coming out on average this week everyday. So if you want to be part of those twelve sales, you've got to adjust your price just like the 105 other people did this week. As of today June 4th there are 1,718 active listings in Downtown and there are 1,253 sales year to date as of today in the Downtown core. If you are thinking you can get the price you could have got six, eight, ten weeks ago your probably mistaken. You should call your realtor up and say “you know what, I want to change my price to make it competitive for today. Whatever that is for your market, for your product I don't know but we'll find out. We'll find out how far it's got to go down but we are seeing the prices going down and I mentioned it, I guess it was March! Right after the Olympics that were starting to see a shift and now its here. Make sure you price your placed correctly. My name is Ian Watt and if you have any question you could always me at ianwatt@ianwatt.ca. Thank you very much and have a great day!