October wasn’t so scary after all! Units Sold in October in all areas were up over September 2012, matching numbers we hadn’t seen since the spring. At the same time, total new listings were down and total active listings continued to fall. At the start of November, close to 900 listings came off the market in Greater Vancouver. What we have been talking about is happening, opportunities for buyers are diminishing. We’ve seen the price corrections occur and now the market is balancing. Activity levels are increasing at open houses and showings, with properly priced listings getting the attention of buyers engaged. As we continue to move through the fall we’ll see the opportunities for buyers continue to decrease. Look around, less for sale signs and more sold stickers!

Greater Vancouver: Total Units Sold in October 2012 was 1,970 – up 28% to September 2012; New Listings in October 2012 were down 18% to September 2012; Month’s Supply of Total Residential Listings is down to 9 Months (Buyer’s Market).

Vancouver Westside Houses: Total Units Sold in October 2012 was 104 – up 21% to September 2012; New Listings in October 2012 were down 30% to September 2012; Month’s Supply of Total Active Listings is down to 9 Months (Buyer’s Market).

Vancouver Westside Condos: Total Units Sold in October 2012 was 264 – up 25% to September 2012; New Listings in October 2012 were down 3% to September 2012; Month’s Supply of Total Active Listings is down to 8 Months (Buyer’s Market).

Vancouver Eastside Houses: Total Units Sold in October 2012 was 93, up 26% to September 2012; New Listings in October 2012 were down 86% to September 2012; Month’s Supply of Total Active Listings is down to 7 Months (Trending on Balanced).

Vancouver Eastside Condos: Total Units Sold in October 2012 was 70 flat to September 2012; New Listings in October 2012 were down 28% to September 2012; Month’s Supply of Total Active Listings is 8 Months (Buyer’s Market).

North Vancouver Houses: Total Units Sold in October 2012 was 78, up 77% to September 2012; New Listings in October 2012 were down 39% to September 2012; Month’s Supply of Total Active Listings dropped to 6  Months (Balanced Market).

North Vancouver Condos: Total Units Sold in October 2012 was 56, up 30% to September 2012; New Listings in October 2012 were down 39% to September 2012; Month’s Supply of Total Active Listings is down to 8 Months (Buyer’s Market).

West Vancouver Houses: Total Units Sold in October 2012 was 51, up 19% to September 2012; New Listings in October 2012 were down 31% to September 2012; Month’s Supply of Total Active Listings is 11 Months (Buyer’s Market).

Richmond Houses: Total Units Sold in October 2012 was 79, up 54% to September 2012; New Listings in October 2012 were down 15% to September 2012; Month’s Supply of Total Active Listings is down to 13 Month’s (Buyer’s Market).

Richmond Condos: Total Units Sold in October 2012 was 85, up 16% to September 2012; New Listings in October 2012 were up marginally to September 2012; Month’s Supply of Total Active Listings is 11 Months (Buyer’s Market).

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