At the beginning of the month we saw a sharp drop in inventory, moving away from a near record high to a more moderate level for the season.
There are still a lot of properties for sale in Vancouver, but not the crazy highs we saw in the spring after the month end flush.
B5baxter has updated his inventory chart over at VancouverPeak.com and it looks like the last week has seen most of those properties come back on the market.
So we’re at a lower inventory level, but there is a sharp recent increase.
Any theories on what’s going on with listings? Looks like there was a similar jump in July 2006:
VMD has updated his Vancouver Real Estate Battle Map.
Here’s the May 2013 SFH edition:
Now that tax season and vacations are over and done with, we head back to the Battlefield!
– Fraser River turned crimson with Bovine blood as the REBGV Bulls failed to defend their Last Stand in Coquitlam. The Bear Army pressed forward and took control of North Surrey for the first time in this War.
– The Bears diverted their main attack forces in Van West & Richmond to solidify control of outskirts such as West Van, Burnaby, Ladner, Poco & Tsawwassen.
– The following Bull Territories are facing imminent defeat: Surrey.
Over at VancouverPeak VMD has updated his SFH battlemap and it’s starting to go monochrome..
This is an entertaining way to track market changes across Vancouver and you can see the color change across the map in relation to earlier posts.
He’s also helpfully marked areas that have switched from positive to negative over the last month.
Looks like the only YOY gains left are in the southeast, losses are showing up everywhere else now.
In other news B5baxter has updated the inventory graph. We’re now showing the highest inventory on the chart for this time of year. Inventory is still growing, but at a slightly slower pace.
Over the last 30 days the average daily increase was: 55
At this rate we would reach 16,000 in 5 days (Mar-12-13)
At this rate we would reach 20,000 in 78 days (May-23-13)
and 25,000 by August 22, 2013
Last year during this same 30 day period the averages was: 57
Last week the average was 56
Thanks PaulB for the numbers!
VMD has been busy over at the new Vancouver Peak Forum uploading new Battle of Vancouver maps.
These maps show the increase or decline in year-over-year REBGV home price index (The Benchmark or HPI).
There are maps for both the condo market and for single family homes in the lower mainland, along with a few historical maps for comparison.
Here’s the map for SFH, showing big changes in South Surrey and UBC:
And here’s the map for Condos, which looks similar but the big changes are in South Surrey but Bull forces are firmly entrenched in Guilford and Pitt Meadows.
Here’s the original discussion thread for the Condo map and for the SFH map.
You can find more great creations and analysis from VMD over at greaterfoolvancouver.
Remember when a million dollars was real money?
It’s always fun to compare what your Vancouver home dollars will get you in less fortunate countries.
A commenter by the name of mortgage posted this delightful contrast.
Here’s what $2.5 million will get you on a major street in the Cambie corridor, walking distance from the world famous ‘Oakridge Center Mall’. This 1948 beauty is located near the vibrant heart of Vancouver, where the sun always shines:
Somewhat south of there is a place called Beverly Hills California. If you take your $2.5 million down there you’ll find something like Dudley Moores old digs:
..but you wouldn’t be walking distance to Oakridge Mall. They have a Zellers.