Vancouver Average Price September 09
Posted October 1st, 2009 in Real Estate, Statistics | 
Berries and Bears
As leaves fall from trees they signal a change of season. For bears it is a difficult time. Approaching is the annual long sleep of hibernation. In need of food reserves to carry forward during this period, real estate bears rush to eat the few remaining berries. Thin, they have this year, found their search for sustenance difficult. The long hot summer of Vancouver’s frenetic real estate market withered many bushes, rendering dry shrivelled fruit on which to feed. Hungry, these unfortunate bears slowly trek to darkened caves to dream of days filled with bushes full of plump berries.
Can It Continue?
Many wonder at the insatiable nature of Vancouver’s real estate market. Some might view the local real estate market as a skate boarder riding a rail. At any moment the expectation is that the boarder will tumble and fall. As each foot of rail is ridden, equated are the months of 2009′s average price and sales volume. Standing in amazement, one wonders, can the boarder and market finish their ride. Some say it’s only a matter of finding balance.
The Rail
Dipped, curved or straight, September’s numbers had it’s ups and downs compared to August 2009 prices. Detached homes dropped from August’s $890,087 to $872,2115. As a burr on the rail, a few boarders might have noticed a new scratch on their ride, but as real estate goes, this is not a worrisome decline remaining above September 2008′s $790,036.
Apartments did a back flip from August’s down tick of $392,501 sticking the flip in September at $409,068. Nobody called out for Band Aides as this September remained above 2008′s $369,354.
Attached rode the rail doing a hand-stand turning August’s $484,976 into September’s $509,601. Steady, attached held it’s place above September 2008′s $499,975
Last, the combined sales of Detached, Attached and Apartments continued to reach new levels for 2009. September’s sales jumped to 3,569 from August’s 3,455
Vancouver Real Estate Average Price Numbers:
| Detached | Attached | Apartment |
| Aug 09 – 890,087 | Aug 09 – 484,976 | Aug 09 – 392,501 |
| Sept 09 – 872,115 – Down | Sept 09 – 509,601 – Up | Sept 09 – 409,068 – Up |
Vancouver Real Estate Average Price // YOY:
| Detached | Attached | Apartment |
| Sept 07 – 819,794 | Sept 07 – 490,476 | Sept 07 – 400,526 |
| Sept 08 – 790,036 | Sept 08 – 499,975 | Sept 08 – 369,354 |
*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.
Hey, Big L., you’ve got a typo in your first table.
I think you might need to update the first graph.
The blue and green lines are both below 500K and 400K respectivly, yet both are supposed to be about 9K above those lines. It could just be because that graph is so squished together.
I cant help but wonder if this was the last hurrah for Vancouver RE. As 5 year interest rates slowly climb higher with the bond market it either forces people to buy cheaper homes or go with the risky varriable rate. However there was a bit of a hiccup the past few days as the market took a hit from bad economic news, so it is possible for rates to stay this low through the next 8 or 9 months.
x and davers
Thanks so much for pointing the minor but important issues. Much appreciated.
Very prosaic Larry.
If, as I suspect, October brings lower prices, then we could be heading into the typical bubble-bursting graph I have posted about ++ on my site.
We will have to wait and see.
No problem. You are the best anywhere at getting the data out quickly, so us numbers addicts will end up here
Fish,
Thanks, I’ll take that as a compliment. Just trying to keep it up front.
X,
There are days when help from readers really make a difference. Again, much appreciated.