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

Blog by Ian Watt

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July Was The Worst Month in 10 Years - Down 45%

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!