Vancouver Real Estate – Elvis’ Car Found In Slow Market
Posted August 22nd, 2008 in Real Estate, Statistics | 
Elvis has skipped the Vancouver West Real Estate scene and left his pink Cadillac behind!
Active Listings
981 Active Listings
- High $19,000,000
- Low $200,000
- Average $2,080,307
- Median$ $1,688,000
Sold
2 Sold this week
- High $5,278,000
- Low $1,588,000
- Average $3,433,000
- Median $3,433,000
Expired
12 Listings Expired
- High $8,900,000
- Low $1,180,000
- Average $2,543,988
- Median $1,493,500
Price Reductions
346 Reduced their Price
Thoughts
The West Side Detached market continues on the path set some weeks ago with just under 1/3 reducing their price.
Based on the fact that there were only 12 sales last week one supposes that the reductions need to be greater with more of them before buyers will jump on the wagon.
Projection
Continued price reductions, with more listing mandates that will expire at month end. We got the location so it must be the prices that have to come down a lot further.
Imagine being a humble real estate peddler. With these numbers in hand ask yourself how you would counsel your clients?
Got a Vancouver Real Estate question? Always happy to answer it. Call or send me an email or twitter me @yattermatters.
Larry
data Courtesy REBGV. Buying or Selling have your Realtor confirm and discuss before making a decision.
