Attached are the updated Listings and Sales Stats as of August 25^th. Most areas will see sales at levels similar to July, or slightly below. West Vancouver and North Vancouver are seeing a drop off in sales compared to July 2012 though. Total Active Listings continue to decrease in all areas except West Vancouver with Richmond just slightly decreasing.

Listings and Sales Stats Regional

Listings and Sales Stats Houses, Townhouses and Condos

With 5 to 7 Month’s Supply of Total Active Listings being a Balanced Market and anything above 7 being a Buyer’s Market, most areas will finish August in Buyer’s Market Ranges:

Greater Vancouver: 10 Month’s Supply

Vancouver West Side Detached Houses: 12 Month’s Supply

Vancouver West Side Townhouses: 7 Month’s Supply

Vancouver West Side Condos: 9 Month’s Supply

Vancouver East Side Detached Houses: 7 Month’s Supply

Vancouver East Side Townhouses: 10 Month’s Supply

Vancouver East Side Condos: 7 Month’s Supply

North Vancouver Detached Houses: 7 Month’s Supply

West Vancouver Detached Houses: 22 Month’s Supply (Dramatic drop in sales for August 2012)

Richmond Detached Houses: 18 Month’s Supply

Richmond Condos: 14 Month’s Supply

With interest rates getting a nod upward this week, it could provide some impetus for Buyer’s to jump off the fence, especially once September rolls around. The best priced listings will generate the best activity! And those Buyer’s that have been sitting and watching that particular property may find it off the market or SOLD! Don’t delay on reducing that price and don’t delay on writing that offer!

You can complain because roses have thorns, or you can rejoice because thorns have roses." – Ziggy

The listings and sales statistics for August show a real estate market distracted by sunshine and all that makes Vancouver one of the most desirable places in the world to live. Total units sold to date in August have shown this distraction. But with increased in activity in the last week and for the remainder of the month we should see August finish slightly ahead of July in terms of total sales in most areas. Total active listings are coming down as well for the third straight month. Last year through June, July and August, Total Active Listings increased month by month in most areas. Here are some of the highlights of the attached stats:

Listings and Sales Regional

Listings and Sales Houses, Townhouses and Condos

Greater Vancouver: 955 Sales so far in August 2012 (2,135 in July 2012) and should finish slightly higher than July.

Vancouver West Side Houses: 46 Sales so far in August 2012 (83 in July 2012), on pace to reach 100.

Vancouver West Side Condos: 133 Sales so far in August 2012 (276 in July 2012), on pace to reach July’s levels.

East Side Houses: 55 Sales so far in August 2012 (109 in July 2012) and should finish the month above July’s sales levels.

East Side Condos: 44 Sales so far in August 2012 (104 in July 2012), on pace to be slightly below July’s levels.

North Vancouver Houses: 34 Sales so far in August 2012 (60 in July 2012), should finish above July’s sales levels.

Richmond Houses: 37 Sales so far in August 2012 (60 in July 2012), on pace to finish higher then July which would be the first increase in month over month since April.

Richmond Condos: 34 Sales so far in August 2012 (101 in July 2012), showing signs of a less active August compared to July.

Buyers be active, Sellers need to be priced right to get the attention of those Buyers – and they are there! Have a great week!

Attached are the listings and sales stats for the end of July. For the 3^rd straight month, new listings during the month fell in all areas. Total units sold were also down compared to June. So while we can’t always soar with the eagles, sometimes it is ok to coast in the valleys. Those that price their properties competitively and below the last sale price have a better chance to sell, and those buyers that engage active sellers have a better chance to create lower selling prices and buy a new home!

Listings and Sales Stats Regional

Listings and Sales Stats Houses, Townhouses, and Condos

Some examples of the latest activity:

Greater Vancouver: Total Units Sold in July 2012 were 2,135 – down 11% to June 2012; New Listings in July 2012 were down 14% to June 2012; Month’s Supply of Total Residential Listings is 9 Months (Buyer’s Market).

Vancouver Westside Houses: Total Units Sold in July 2012 were 83 – down 19% to June 2012, down 45% to March 2012, and down 70% to March 2011; New Listings in July 2012 were down 18% to June 2012; Month’s Supply of Total Active Listings is 13 Months (Buyer’s Market!).

Vancouver Westside Condos: Total Units Sold in July 2012 were 276 – down 17% to June 2012, down 30% to March 2012, and down 52% to March 2011; New Listings in July 2012 were down 14% to June 2012; Month’s Supply of Total Active Listings is 8 Month’s (Buyer’s Market).

Vancouver Eastside Houses: Total Units Sold in July 2012 were 109, 2% higher than June 2012, down 30% to March 2012, and down 52% to March 2011; New Listings in July 2012 were down 15% to June 2012; Month’s Supply of Total Active Listings is 7 Month’s (Balanced trending to Buyer’s Market).

Vancouver Eastside Condos: Total Units Sold in July 2012 were 104 down 24% to June 2012; New Listings in July 2012 were down 32% to June 2012; Month’s Supply of Total Active Listings is 5 Months (Balanced Market).

North Vancouver Houses: Total Units Sold in July 2012 were 60, down 18% to June 2012, down 50% to March 2012, and down 55% to March 2011; New Listings in July 2012 were down 27% to June 2012; Month’s Supply of Total Active Listings is 7 Month’s (Balanced trending to Buyer’s Market).

North Vancouver Condos: Total Units Sold in July 2012 were 55, down 20% to June 2012; New Listings in July 2012 were down 14% to June 2012; Month’s Supply of Total Active Listings is 9 Months (Buyer’s Market).

Richmond Houses: Total Units Sold in July 2012 were 60, down 21% to June 2012, down 42% to March 2012, and down 73% to March 2011; New Listings in July 2012 were down 8% to June 2012; Month’s Supply of Total Active Listings is 20 Month’s (Heavy Buyer’s Market!!!).

Richmond Condos: Total Units Sold in July 2012 were 101, down 11% to June 2012; New Listings in July 2012 were down 22% to June 2012; Month’s Supply of Total Active Listings is 10 Months (Buyer’s Market).