Vancouver Neighbourhood Numbers – POINT GREY

pt-grey-30-det-27-06-2009-5-38-27-pm

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.

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.

When Life Moves You - contact Larry:

*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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