March Statistics Released by the REBGV
For those of you following the weekly stats report none of this comes as a surprise. Listings are up, sales are down, prices are steady. That’s it in a nutshell.
What is not reported is that sales continue on a blistering pace with an average days on market of about 32 days and prices are within 98% of ask. Concurrently places not selling are averaging over 60 days on market. Twice the amount of time with no sale.
Why is that? Simple. They do not wish to sell. Not really. There have been several terrific offers I’ve been involved in which were declined by the sellers who wanted way more than anyone will give them. Buyers are no fools and patience is a virtue. If you find a place you like but the Sellers will not be reasonable, be patient. The market isn’t flying up and you should not be paying any more than what a good comparable analysis tells you it’s worth (sometimes even less if the case warrants).
To the Sellers out there: There are a lot of eager and able buyers looking for your home. Price it right (and present it right) and it will sell.
The whole report follows below:
Vancouver, BC 
“…sales are down…”
“What is not reported is that sales continue on a blistering pace…”
Huh?
Sales are continuing at a blistering pace. An average 32 days on market is fast. I didn’t sale everything was selling at a blistering pace… just sales. Perhaps I could have clarified by saying “Sales measured by units is down but sales measured by days on market are occurring at a blistering pace.”