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Weekly Update Nov 8 - 14

I'd first like to say that it's so nice to be able to log in and see the daily stats every day. Mike Fotiou is doing an excellent job at keeping us updated. I like his format and layout a lot better than the one I was using. Keep up the good work, Mike!

The item that really jumps out on my weekly stats update today is the sales/new listings ratio for single family homes at 62%. That number was 36% last week. October, it was 43%.

Some numbers that are not published, but interesting nevertheless: Pending sales for SFH are at $477,666. These are sales that are in the pipeline but not yet finalized. Also, 8% of the SFH listed this month already have a sale or pending sale(condos 7%).

I have just a few minutes before I head out for the Great Divide to do another 20 K. Tuesday was my first day on skis after a 7 month layoff and it was glorious. Yes, the sking is fabulous out here in Lake Louise. We couldn't have timed the ski season any better. As we pulled up to Moraine Lake Road on Tuesday, the tracksetter had just finished laying down two new tracks in excellent snow for the first time this year. Not expecting such good conditions, I only brought my rock skis. I could have been using my faster racing skis without fear of any damage. For any other cross country skiers out there, I see that the trails at mount Shark are groomed(not trackset) and Ribbon Creek is packed. I don't expect Ribbon Creek will last long with the warm weather that's coming in.

When I have my 1000 kilometres in, I'll be back in full force, regardless of the direction that prices are going.

Posted: Thursday, November 15, 2007 7:52 AM by Bob Truman

Comments

Chopper said:

Yeah Bob, You're just like all those other realtors who started doing daily stats and giving us, the public, some much-nedeed transparency. How many came before you but never did it? Zero? You're just like all them.

From the looks of those SFH pending sales and the uptick in sales/new listings, the price decreases will be coming to an end soon. I predict the price bottoms out by Dec 31.

# November 15, 2007 9:54 AM

Carl said:

Bob, you've got too much class to pay any attention to the other blog. We've all been well-served by your initiative and good example. Enjoy your ski today!

Thanks, Carl. I'm just about to head out. It is a beautiful day here in the mountains. - Bob

# November 15, 2007 10:25 AM

Darco said:

I think the Bubble blog had it right. I bet Bob is just making up these stories about skiing, but really he's drinking Cognac with his swiss banker!

;)

I for one think everyone deserves a vacation, and enjoy your website very much. I hope it does get you business, which no doubt it does. It's deserved.

# November 15, 2007 5:51 PM

BHD said:

Bob,

Enjoy your holidays and have lots of fun. If I were in your place I would not even read the other blog.

You're daily stats web page was an innovative idea.

I enjoyed and learned lots from the stats and the blog.

Keep up the good work.

bhd

# November 16, 2007 10:21 AM

Frank said:

Bob, as per your comments....

" The item that really jumps out on my weekly stats update today is the sales/new listings ratio for single family homes at 62%. That number was 36% last week. October, it was 43%. "

..... new listings usually drop off at this time of the year because of seasonality factors. The average price, median price continue to drop. And the average DOM continues to increase. I'd love to give my personal opinion on house prices, but given that now I have clients, I will have to refrain.

Enjoy the skiing.

Frank; The market hasn't exactly been following the usual trends and patterns this year, so it is noteworthy that this is actually happening. I see from Mike's stats that the average price of SFH in Nov(month to date) is actually higher than it was in October.

Bob

# November 17, 2007 2:03 AM

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