Vancouver Price Drop

Documenting Vancouver real estate price movements

Recycling Stats – May 8, 2012

Here are the latest stats showing how many new listings are actually recycled listings that had been previously pulled.  First 3 columns show April’s new listings, recycled listings and overall percentage followed by the current results for May.  The difference in just one month is fairly shocking and I would expect May’s numbers to get higher as inventory rises and sales drop lower and lower.

In April just 6 of the regions with 100 or more new listings hit 20% and the highest was 21.4% in Richmond while this month 13 of those regions are above 20%, 9  regions are higher than the previous months highest recycling level and 18 of the 21 regions with 100 or more new listings last month have higher recycling levels so far this month.

 

Region April May to Date
Maple Ridge 273 56 20.5% 106 34 32.1%
Richmond 828 177 21.4% 228 63 27.6%
White Rock 494 79 16.0% 135 35 25.9%
North Vancouver 472 67 14.2% 135 33 24.4%
Mission 152 31 20.4% 70 17 24.3%
Vancouver West 1333 283 21.2% 405 95 23.5%
West Vancouver 239 51 21.3% 69 16 23.2%
Burnaby 769 136 17.7% 191 44 23.0%
Port Moody 139 29 20.9% 41 9 22.0%
Langley 513 69 13.5% 155 33 21.3%
North Surrey 372 48 12.9% 94 20 21.3%
New Westminster 250 35 14.0% 78 16 20.5%
Vancouver East 584 95 16.3% 171 35 20.5%
Kent 33 7 21.2% 16 3 18.8%
Pitt Meadows 70 13 18.6% 12 2 16.7%
Surrey 568 77 13.6% 151 25 16.6%
North Delta 107 10 9.3% 31 5 16.1%
Coquitlam 423 53 12.5% 138 22 15.9%
Ladner 50 6 12.0% 13 2 15.4%
Port Coquitlam 184 27 14.7% 60 9 15.0%
Abbotsford 441 79 17.9% 121 18 14.9%
Cloverdale 236 30 12.7% 69 10 14.5%
Hope and Region 39 5 12.8% 14 2 14.3%
Chilliwack 50 12 24.0% 11 1 9.1%
Squamish 90 23 25.6% 31 2 6.5%
Tsawwassen 66 6 9.1% 17 1 5.9%
Sunshine Coast 179 24 13.4% 72 3 4.2%
Whistler Pemberton 109 11 10.1% 39 1 2.6%
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10 responses to “Recycling Stats – May 8, 2012

  1. spark May 8, 2012 at 11:26 pm

    you are doing gods work…

  2. Light Bulb May 9, 2012 at 12:13 am

    Excellent perspective and great presentation of data. It shows a clear trend that is certainly not discernible in the RE industry stats published each month. Really nice work!

  3. buffates May 9, 2012 at 6:54 am

    A couple months of this and people might actually start realizing that their places are not worth what the Vancouver Sun and Real Estate Board says they’re worth.

  4. dg May 9, 2012 at 2:22 pm

    Vancouver West has a lot of product on the market. Mass exodous….?

  5. space889 May 9, 2012 at 2:47 pm

    Excellent work! Much appreciate all the useful info on here!

  6. bailinginbc May 9, 2012 at 11:08 pm

    Nice price drop today in Squamish MLS® V942568. Only been on the market a couple of weeks and already dropped $40k. Sad thing is, I was talking to my realtor yesterday and said I wouldn’t be tempted if it dropped $100K. In fact I’m not sure I would bite for $200k off the price.

  7. TB May 11, 2012 at 10:22 am

    What exactly is the dyanmic that’s captured in this table? I understand that listings in April were pulled and then relisted in MLS in May. Is that way to disguise a price decrease? Help a newbie out.

    • an observer May 11, 2012 at 10:28 am

      It’s tough to generalize since each home has its own circumstances but generally higher numbers here show areas where sellers are anxious to sell and not getting what they had hoped for. Sometimes it is meant to disguise a price drop, sometimes just to get their home some attention due to it being a “new” listing. Often it is simply a listing that expired with no takers and the seller is relisting.

  8. JimH May 12, 2012 at 11:03 am

    wow… deja vu all over again! This is what we in the US have been going through since ’08!!!! Looks like greed and fear know no boundaries!

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