The Spring selling season has come to an end, and it appears a dramatic change in our local real estate climate has occurred. No longer a sellers market, the terms “balanced market” and “buyers market” are now common place among home buyers and sellers. Now more than ever when selling a home it is important to be competitively priced amongst the competition and market your home from a variety of different angles.
Some numbers:
Sales are down a startling 41% compared with June 2007. This will make some headlines this week.
We started 2008 with slightly less inventory than 2007.We are currently up 53% over last year, and 80% over May 30th 2006. North Vancouver inventory is up over 113% compared to June 07.
Some colleagues of mine have noticed an increase in sales activity this last week. Lets see if the market begins to handle the increase in inventory.
What are you seeing out there? Keep on posting!
Here are some visuals:
Sales -41%
Total Listings +53%- Looks like the rapid inventory growth might be winding down.
Van West +76%
Van East +43%
North Van +113%
West Van +57%
Inventory Charts here: INVENTORY
