Friday’s Facts – Vancouver Real Estate
Posted March 2nd, 2008 in Real Estate, Statistics | 
West Side Detached Homes
The Vancouver West Side real estate market continues in it’s steady performance compared to last year.
More Listings – More Sales
New listings continue upward at 241 listings. Sales are above last years number at 138. This is a 3% increase over last years sales volume of 133 homes.
Total YTD West Side numbers show a 14% increase in available inventory coming in at 477 listings up from 355 last year.
Average West side prices are up 29% YTD coming in at 1,803,034 up from 1,393,505.
Overall YTD Decline
System wide sales declined by 5% from 2,905 down to 2,733.
Is it a trend?
I wouldn’t be brushing the dust off the Bear suit just yet. If this market continues for two full quarters it might be time to roar. Considering that last year was an all-time record, what we may be experiencing is a return to a “normal” market.
Average prices system wide increased up 17% YTD with average unit prices at 623,517 up from 531,687.
System wide 11,420 listings are now available up from 10,414. This will begin to impact some neighourhoods.
Assessment
- decerning demand – greater choice
- Days on Market DOM, increase
- decreasing number of sales
- more price reductions
Stats Courtesy of REBGV and are assumed to be correct.
Got a Vancouver Real Estate question? I’ll do my best to answer it. Call or send me an email.
Larry
