Marpole-30-Days-Neighbourhood-Numbers

marpoledet30day-8-20-2009-11-55-29-pm

Marpole 30 and 60 Days

Marpole Detached real estate during the current past 30 day period July 21 to Aug 20,2009 compared to the previous 30 day June 21 to July 20, 2009 period witnessed Total Listings recead from 52 to 49. As with other areas of the city Marpole had a decrease in sales from 12 to 8.

In concert with the record sales Average Sale prices increased from $926,700 to $1,111,083.

Accordingly Median Sold Price, a more of a reasoned view of the Marpole detached market also experienced and increase from $9111,550 as the neighbourhood caught a summer market’s updraft reaching $1,029,500.

Numbers

FOR SALE

FOR SALE

This Month 30 Days

Last Month 60 Days

Total Listings

52

49

Average Active Listing Price

$1,155,500

$946,350

Median Listing Price

$1,084,000

$913,500

EXPIRED Listing Mandates

Expired Listings

1

2

Average Expired Price

$1,780,000

$1,013,000

Median Expired Price

$1,780,000

$1,013,000

SOLD

SOLD

12

8

Average Sold ASKING Price

$1,155,500

$913,500

Average Sold Price

$1,111,083

$926,700

Median Sold ASK Price

$1,084,000

$946,350

Median Sold Price

$1,029,500

$926,700

HIGH/LOW

Highest List Price

$1,990,000

$1,990,000

Lowest List Price

$628,000

$628,000

Outlook

Repeating what many economists and Realtor types are suggesting is that confidence with lower interest rates has been the driver for the market place in general and Marpole detached market in particular. Coinciding with numbers and ratified in a number of public reports, June/July’s sales exceeded all expectations. Marpole, was not an exception!

Will it Last?

Interpreting the words of CREA’s president – continue to expect that the lowest priced homes or those homes presenting the best value relative to others, will fly off the shelf. Realtor street reports are saying that a great number of multiple offers are occurring, indicating fierce competition for these homes. As a current market climate, a reasonable expectation for the near future is that the Marpole neighbourhood prices will probably escalate.

In Marpole, it’s common to see and hear planes arriving and departing from Vancouver’s International Airport. From time to time, strange and unigue planes can be seen there. For some, the Vancouver Real estate market might bare a resemblance to this plane. It is suffers from similar unexplainable oddities yet has comparative characteristics. Like planes, the Vancouver market takes off but, eventually, it runs out of fuel and must come down. It’s only a matter of time.

*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.

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.

Reader Comments:

Crabby Pubis Says:
August 22nd, 2009 at 9:27 pm

Woah thanks for the Marpole stats! Detinately more “reasonable” pricing but still.. what gives?!

Crabby Pubis Says:
August 23rd, 2009 at 11:46 am

I tried commenting before but it didn’t seem to show up. Anyways, I wanted to say thank you for posting these stats. I think the more I see where the market is headed, and given my age, I’m probably going to have to “settle” for a SFH in east Vancouver.

Do you think it’s ever possible that some east Van areas may eclipse the west side in prices? (eg. Main st vs. Marpole?)

August 24th, 2009 at 2:22 pm

Crabby,
There is the odd exception to this question. Yes there have few home sales on the east side that have eclipsed Marpole pricing.

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