Marpole-30-Days-Neighbourhood-Numbers
Posted August 21st, 2009 in Marpole, Neighbourhood SnapShot | 
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.
Woah thanks for the Marpole stats! Detinately more “reasonable” pricing but still.. what gives?!
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?)
Crabby,
There is the odd exception to this question. Yes there have few home sales on the east side that have eclipsed Marpole pricing.