Neighbourhood Numbers – Pt. Grey
Posted August 16th, 2009 in Neighbourhood SnapShot, Point Grey | 
©YatterMatters
Point Grey 30 Days
Point Grey Detached real estate during the posted 30 days July 16 to Aug 15, 2009 shared the explosive sales jump noted by many sources.
A Good Month
- Solds nearly doubled from the June/July period.
- The total number of listings increased.
- Average sold prices climbed.
- Median sold prices climbed.
Numbers
FOR SALE
| FOR SALE |
This Month 07/16/09 => 08/15/09 |
Last Month 06/16/09 => 07/15/09 |
| Total Listings |
51 |
46 |
| Average Active Listing Price |
$4,689,485 |
$4,689,485 |
| Median Active Listing Price |
$2,897,000 |
$2,897,000 |
EXPIRED
| Expired Listings |
1 |
3 |
| Average Expired Price |
$2,858,000 |
$4,270,000 |
| Median Expired Price |
$2,858,000 |
$3,480,000 |
SOLD
| SOLD |
15 |
08 |
| Average Sold ASKING Price |
$2,298,200 |
$1,888,000 |
| Average Sold Price |
$2,162,566 |
$1,871,875 |
| Median Sold ASK Price |
$2,388,000 |
$1,799,000 |
| Median Sold Price |
$2,162,566 |
$1,755,500 |
HIGH/LOW
|
Highest Sold Price |
Lowest Sold Price |
|
$4,050,000 |
$1,275,000 |
What’s Ahead
The obvious is that more Pt. Grey homes sold, at higher prices. What is not so obvious is, how long will this last? Are the increases a price bubble? According to Doug Porter Chief Economist of BMO’s Capital Markets, “we can’t rule it out”. Will this increase entice more sellers to enter the market? Assuming Dale Ripplinger, CREA’s president is right, expect the current rush of sales to be a result of buyers taking the advantage of “excellent affordability before price and interest rates move higher”.
Pascal Gauthier, an economist with TD Bank Financial Group chimes in by saying that “after improving markedly, affordability will deteriorate in coming quarters, and unemployment will continue to rise.” “New listings might well start rising again too. Combined, a larger supply and a softening in demand should cool prices in a delayed fashion.”
*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers may vary as they are dynamically posted by the REBGV.
Larry – who on earth can afford to buy at these prices. Two palstic surgeons married to each other?
Really, what sort of people can plunk down several Million on a house, old money, business owners, Chinese Billionaires?
Frank,
the best I could come up with in a short time is this bit of data which I sense is terribly inaccurate: http://www.brocku.ca/maplibrary/Atlas2001/Vancouver/avgincome.pdf. If you wish Canada Census might provide some dated numbers.
As to the how they do it: my response as a courtesy to you –
- a long time ago Grandpa taught me that it was impolite to ask another man or woman how much they earn.
Nuff said!