Vancouver East Side – Detached Numbers
Posted July 28th, 2009 in Vancouver East Side | 
East Side 30 and 60 Days
Vancouver’s East Side Detached real estate during the current past 30 day period of (July 28, 2009 back to June 28,2009) compared to the previous 30 day (May 28, 2009 – June 28, 2009) period saw total listings drop from 772 to 659. Significant is the drop in sales from 232 to 114. Sold Average prices witnessed an adjustment upward from the May/June price of $685,029 to the June/July average sold price of $694,008. The Median Sold price reflected an similar increase from $660,000 to $669,000. In short, sales dropped and prices increased.
Numbers
FOR SALE
| FOR SALE |
This Month 30 Days |
Last Month 60 Days |
| Total Listings |
659 |
772 |
| Average Active Listing Price |
$771,561 |
$771,561 |
| Median Listing Price |
$738,000 |
$738,000 |
EXPIRED
| Expired Listings |
33 |
28 |
| Average Expired Price |
$770,099 |
$815,000 |
| Median Expired Price |
$738,000 |
$729,500 |
SOLD
| SOLD |
114 |
232 |
| Average Sold ASKING Price |
$697,499 |
$697,147 |
| Average Sold Price |
$694,008 |
$685,029 |
| Median Sold ASK Price |
$676,499 |
$676,500 |
| Median Sold Price |
$669,000 |
$660,000 |
HIGH/LOW
| Highest List Price |
$1,888,000 |
$1,888,000 |
| Lowest List Price |
$349,000 |
$349,000
|
Outlook
Associated confidence with lower interest rates continues to drive the Vancouver East Side detached market. As witnessed in a number of recent public domain reports, overall detached sales exceeded many expectations during this period – Vancouver’s East side neighbourhoods were not an exception.
Should the decline in the total number of listings continue it will be interesting to witness if the prices will continue their rise. Regardless of the number of listings available, at some point the affordability factor will kick and will be noticed by the number of sales decreasing. These current numbers may be the beginning of that cycle. While the current heat wave of summer burns us, one suspects the heat will not sustain and as the temperature achieves past normal levels, so may Vancouver East side prices.
Watch for this market development in your Vancouver East side Neighbourhood.
*Sellers Consultation without obligation.
**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.
