Vancouver Real Estate Average Prices

2007-12-average-price-graph.jpg

2007 in the world of Vancouver Real Estate continued its remarkable climb upwards. The graph reveals a few bumps during the year. Some would consider these nervous moments. In reality, as a graph of average prices, the abrupt ups and downs most likely represent a momentary scew as a result of a few high priced sales . Near the end, a close up shows a renewed bounce up.

The assessments are out and some reports suggest an overall increase of 16%. Perhaps its that time again to grab something heavy and hold on. 2008 is just beginning and the Olympics are 24 months away.

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

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*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Reader Comments:

Charles Farley Says:
January 11th, 2008 at 12:06 am

Is now a good time to buy a condo downtown for investment purposes? Will I be able to rent it out to make a profit? These guys say no: http://vancouvercondo.info – are they lying?

January 11th, 2008 at 10:42 am

Charles,
I don’t think bloggers lie….. they just have opinions.

Perhaps Ozzie Jurrock says it best –
So what should we do?

“First of all understand your personal objectives, make a plan and write it down. This is important. Decide if you are a flipper or a long-term investor. It will force you to think. Buying downtown, you are really not buying for cash flow … you are looking for capital gain … you are a flipper. Can you carry the negative cash flow, if you can’t flip for a few years? If you look to be an investor for cash flow, go to areas – good solid areas – where rent to price ratios make sense and a tenant buys you the property – literally.”

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