Vancouver Condo Real Estate Video Blog #586 - August 9, 2010
July Was The Worst Month in 10 Years - Down 45%
Ian Watt's Vancouver Condo Real Estate Week in Review for August 1 to 7, 2010
Ian Watt video blogs about the week of August 1 to 7, 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.
New Condo Listing - 90 (or 23 new listings per day)
Price Changes - 46 (or 12 price changes per day)
Units Sold - 50 (or 13 sales per day)
Total Listings - 1460
Total 2010 Sales - 1750
Ian Watt: Hi, Good afternoon! It's Ian Watt in Downtown Vancouver.
Doing the week in review for the week that was August 1st to August 7th
and of course the Real Estate Board of Greater Vancouver published
their stats for July and apparently was the worst July we've had in ten
years down 45%. I'm having said that. In the Downtown core I'm finding
that things are starting to shape up or inventory starting to come down
a little bit and activity all be it. It's not really there like it use
to be last year, the year before but it is still tracking along. There
are some sales happening. Unfortunately the listings count are still a
little bit higher than I would like. But nonetheless, It's okay because
there's a lot of price reductions which is fantastic and sales are
happening. That's all we can ask for. But nonetheless, we can review
this is what's happened. There have been 90 new listings, 46 price
reductions and 50 sales. Keep in mind that it was a long weekend that
was a four day week. So that's a quite a few new listings. About ten
price reductions a day, about twelve or so sales. You know not a bad
week but what's pretty good is got to remember. Last year were under a
thousand listings at all time in the Downtown core. Then you got to
remember that in the Olympics were about thousand fifty. In June were
about eighteen hundred and now are active listings is at 1,460 and
we've had 1,750 sales year to date. Yeah July stunk, I think the rest
of the year is gonna be equally as good, equally as bad and there's no
signs of a huge economic change going on but I think this are the
prices, this are the activity. We are going to see for the rest of the
year. 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!