Vancouver’s April Showers – Real Estate Average Price

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Heads Up

Averages are always a little scary as they are subject to anomalies. As a snap shot indicator they can prove beneficial but may at that moment, not reflect a trend.

April’s Month of Numbers

April showers certainly fell on the Vancouver Residential market. All sectors showed an uptick in pricing.

As noted in last month’s missive market history can be brutal. This month however, will make a lot of seller’s happy and is an indicator that the lower interest rates have given many buyer’s that sense of “it’s a good time to buy!”

The Bottom is Past – For Now!

Fellow Realtors are reporting that buyers are busy shopping in large numbers. Multiple offers are once again becoming the norm with selling prices above the asking reaching the same level of silliness witnessed in 2007. Stalled opens, showings and offer presentations geared to maximize the property’s exposure has returned to become the bain of buyers and buyer’s agents.

Unit sales in April ’09 for detached continued in the negative YOY but showed a sharp change from last month’s 19%, settling in at 8%. Attached unit sales hovered at 2% with apartments taking similar courage coming in at 10%.

Suffice to say that the markets of 08 so fondly remembered by all bears are for now, history. Considering the overall global financial impasse, a new paradigm in Vancouver Real estate may be at hand. No one is quite sure what to make of it except to consider it another Vancouverism!

Vancouver Real Estate Average Price Numbers:

Detached Attached Apartment
Mar 09 – 763,248 Mar 09 – 442,266 Mar 09 – 354,605
Apr 09 – 880,844 – Up Apr 09 – 509,809 – Up Apr 09 – 408,036 – Up

Vancouver Real Estate Average Price // Percent YOY:

Detached Attached Apartment
Apr 07 – 794,300 Apr 07 – 470,400 Apr 07 – 376,100
Apr 08 – 880,844 Apr 08 – 509,809 Apr 08 – 408,037
Apr 09 – 816,801 / – 07% * Apr 09 – 463,283 / – 09% * Apr 09 – 364,074 / – 10% *

* Percent reflects price change YOY 2008 to 2009


*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.

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.

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