Thursday, September 30, 2010

What we will see this month

Ok folks despite the bump in sales in the last few days, I think we will see another drop in sales for September. If you look at Larry Yatter's community charts, you will see most of them show MOI above 10.

However average prices and median prices are steady to up.

This confirms what we have been seeing, that higher end buyers are still in the market. eg the $9 Million sale a few days ago.

If so, then Median and Average prices WILL NOT BE RELIABLE for September.

We will have to depend on the HPI for a true picture of the state of the market. We will also have to assume that the REBGV is doing a valid comparison to come up with the HPI.

So don't be shocked if average or median is up. If you have an inventory of 100 dresses and are selling very few, but mostly the expensive ones, of course both your average and median prices will be up.
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7 comments:

  1. Bob ArctorSeptember 30, 2010 at 8:59 AM

    I suspect the pushers will spin this as "The buyer's market is over, buy now or be priced out forever".

    ReplyDelete
  2. Fish10September 30, 2010 at 7:02 PM

    Good day for the bears.

    North Shore: 16 New, 18 changes, 4 sold

    ReplyDelete
  3. Fish10September 30, 2010 at 7:07 PM

    Van West: 40 New, 30 Changes, 17 Sold

    Burnaby : 19, 17, 7

    Van East is still pretty hot: 21, 12, 10

    ReplyDelete
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