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Favourable market for buyers...

September 28, 2008 –In a continuing effort to monitor the market in a specific area...

Here are today's results of our analysis of "Active" listings:

Location: Vancouver West (West End)
Price range: $375,000 - $425,000
Classification: Attached
Active Listings: 40
Listings that have reduced their price: 19
Listings that have made price adjustments: 19/40 = 47.5%
Range of price reduction from previous listing price: 2.09%-11.11%
Average price reduction from listing price: 4.16%

Compared to the previous analysis with the same criteria, we are seeing prices reduced on average a further -0.46%.

It should be noted that 6 of the active listings have already made 2 price reductions. Average price reduction from "original" listed price: 7.6%

In reviewing the above data, ask yourself, what will happen next? Find out by keeping track of the area you wish to buy a home in or contact me for help. Alternatively, stay tuned for the next analysis of the same subject area sometime around the 3rd week of October.

Virgil Soh, BBA,
REALTOR®