Monday Market in Vancouver: Are Buyers Returning?

More Sales in Vancouver, Washington

Market Snapshot 2009/02/02

Homes available compared to homes under-contract dipped slightly this week. Last week's weird anomaly disappeared this week as evidenced by the 44 homes recorded as under contract. The number of homes available shrank to 3265 from 3329 the previous week.

It's still solidly a buyer's market. But a change in ratio from 8.2 homes for sale for every one selling the first week of January to 7.0 at the end of January is encouraging.

Over half the sales are in price ranges under $250,000. I was expecting to see some more movement above the $350,000 price points as an indication that people selling below $250,000 were moving up. The ratios suggest above the $300,000 price point did tighten up from a bit going from 7.6 to 6.6 active to pending. But above the $350,000 point, the ratios spread again. There are a smaller number of home sales so that even one more home sold strongly affects the ratio.

The change in these numbers I think will be reflected in a decreasing number of months of inventory. Of course, we have a long ways to go for this to be anything but a buyer's market. And just because it's a long buyer's market, doesn't mean circumstances will get better for the buyers who wait. Don't wait! Call me today and let's start building your real estate portfolio!

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