Vancouver Neighbourhood Numbers – POINT GREY
Posted June 27th, 2009 in Neighbourhood SnapShot, Point Grey | 
Point Grey 30 Days
Point Grey Detached real estate during the posted 30 day period May 27 to June 27 2009 had 10 sales, down 12 from 04/28/09 – 05/27/09. The number of active listings remained steady at 45. Average and median Sold prices are down respectively for the same periods from the Average of $1,526,636 to $1,511,500 and Median Solds dropping from $1,345,000 to $1,220,000.
Balance
The struggle to find balance found 11 properties reducing their price. The most notable, a price adjustment of $475,000.
Not the highest priced property in Point Grey, it’s was reduced from $5,950,000 to $5,475,000. With tongue in cheek, if you hurry, there is still time to make your bid. The listing mandate ends July lst.
Gritting Teeth
More importantly, even at this price range the price reduction of approximately 12% represents a serious adjustment. This may be the watershed listing. It could be the lithmus for more and bigger reductions in the weeks ahead. The west side market may be a cresting wave that travels across the broader Vancouver market.
Numbers
FOR SALE
| FOR SALE |
This Month |
Last Month 04/28/09 – 05/27/09 |
| Total Listings |
57 |
70 |
| Average Active Listing Price |
$3,816,553 |
$3,816,553 |
| Median Active Listing Price |
$2,398,000 |
$2,398,000 |
EXPIRED
| Expired Listings |
2 |
3 |
| Average Expired Price |
$1,713,000 |
$1,511,666 |
| Median Expired Price |
$1,713,000 |
$1,598,000 |
SOLD
| SOLD |
10 |
22 |
| Average Sold ASKING Price |
$1,540,840 |
$1,545,994 |
| Average Sold Price |
$1,511,500 |
$1,526,636 |
| Median Sold ASK Price |
$1,291,700 |
$1,359,000 |
| Median Sold Price |
$1,220,000 |
$1,345,000 |
*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers may vary as they are dynamically posted by the REBGV.
