Vancouver Price Drop

Documenting Vancouver real estate price movements

Recycling April 25, 2012

Another trend I have been seeing is that a huge number of “new” listings are simply recycled listings that have been previously pulled. Often this is accompanied with a large price drop as the sellers initial hopes of winning a lottery end up failing. Rather than drop the price on the listing they instead take the listing down and then relist a short while later to attract new attention to the home.

This chart shows the % of new listings from the past week in each area that have been recycled and previously listed within the last 6 weeks under a different MLS Number.  Looking at the results, this seems like a pretty good indicator of gauging overall selling conditions in each area.

Area New Listings Recycled Pct
Squamish 21 6 28.6%
West Vancouver 55 14 25.5%
Vancouver West 275 68 24.7%
Richmond 220 49 22.3%
White Rock 129 26 20.2%
Chilliwack 20 4 20.0%
Coquitlam 107 20 18.7%
Port Moody 27 5 18.5%
Pitt Meadows 17 3 17.6%
Burnaby 171 30 17.5%
Maple Ridge 73 11 15.1%
Port Coquitlam 40 6 15.0%
Abbotsford 115 17 14.8%
Mission 43 6 14.0%
Cloverdale 71 9 12.7%
Langley 152 19 12.5%
Vancouver East 144 18 12.5%
Surrey 164 20 12.2%
New Westminster 61 7 11.5%
Whistler Pemberton 27 3 11.1%
Sunshine Coast 49 5 10.2%
North Delta 34 3 8.8%
North Surrey 108 8 7.4%
North Vancouver 108 8 7.4%
Tsawwassen 14 1 7.1%
Hope and Region 16 1 6.3%
Kent 12 0 0.0%
Ladner 8 0 0.0%

8 responses to “Recycling April 25, 2012

  1. bailinginbc April 25, 2012 at 10:03 pm

    Not in the least bit surprised to see Squamish leading the pack here. Many of the houses currently listed have been for sale for more than a year. Interestingly though, just recently, a house that has been for sale for multiple years (3?), just recycled for $50k MORE and sold after about 30 days. Not quite sure what happened there. The buyers agent was from out of town but I can’t believe that they wouldn’t know the history of the place. Perhaps there was some sort of cash back or vendor financing, or perhaps some sucker just got fleeced.

  2. bailinginbc April 25, 2012 at 10:05 pm

    By the way Observer, nice site. I’ll be back. Thanks

  3. shef2000 April 25, 2012 at 10:39 pm

    Love the site. Keep up the tracking!

  4. harbottle April 26, 2012 at 4:58 am

    nice site with interesting analytical data. “draw your own correlations & conclusions”

  5. spitfirez April 26, 2012 at 5:43 am

    This is really good data. Going forward this sort of data will be invaluable, maybe it might find its way into the MSM? Or not. Vancouver media will cheer this market all the way to the ground.

  6. AG Sage April 26, 2012 at 6:33 am

    In the States gaming the mls to get a lower time on market is strictly against board policy. (But was rife in California during the boom.) It’s a sign of desperation, and lax self-policing.

  7. buffates April 26, 2012 at 6:44 am

    Love the stats you are providing! Very inventive, keep up the great work and you’ll be the go to blog for Vancouver.

  8. Jamie April 27, 2012 at 8:24 am

    Curious if you have a few pointers for someone interested in doing the same thing for Calgary? I did some $/sqft when my wife joined me up here(2008). Would you mind sharing your process?

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