Vancouver Real Estate – Daisy Roots or Sunshine
Posted September 3rd, 2008 in Real Estate, Statistics | 
Observation Or Pessimism
Depending on whether you woke up and saw daisy roots or sunshine will determine your appreciation for Vancouver Real Estate’s West Side’s August performance.
Bears in the Bush
Lately, the bears have been waking up to a lot of sunshine in anticipation of the decline in sales and price reductions becoming a tsunami. The bulls face an alternate reality of seeing some hoped for gains fading.
Vancouver West Side Detached as at August 31, 2008
| UP | DOWN |
Units ListedUp 14% from 183 to 209 |
Units SoldDown 70% from 158 to 46 |
Active ListingsUp 116% from 422 to 915 |
Average PriceDown 2% from $1,709,544 to $1,665,714 |
Reflections
A casual observation tells you that these numbers are not pretty. Optimists with fuzzy history on their side continue in their belief that the fall selling season is upon us and the day will brighten the declining numbers (look at some of the list with me flyers in your mail box). Countered is similar historic reference that suggests an impending Federal election may influence the Canadian tradition of “let’s just wait and see”.
Nick of Time
Time heals everything. Time lost cannot be regained. Time is of the essence. Time to act.
I suspect that in this market Buyers and Sellers alike are asking when is the right time?
Daisy roots or sunshine? It’s all a matter of perspective?
Got a Vancouver Real Estate question? Always happy to answer it. Call or send me an email or twitter me @yattermatters.
Larry
*Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**REBGV Statistics are dynamic and may posted by the REBGV.
