Vancouver MLS Neighbourhoods – East Mt.Pleasant

East Mt Pleasant Det 30 6024-10-2009 11-52-59 PM

East Mt. Pleasant 30 and 60 Days

East Mt. Pleasant Detached came up with a strong parallel to the numbers for Fraser Neighbourhood. It required a double check to confirm that the past 30 day period Sept 24to Oct 24,2009 compared to the previous 30 day Aug 24 to Sept 24, 2009 were different from Fraser’s. The period saw Total Listings drop from to 41 to 36. There was an increase in expired listings from 1 to 2. Like Fraser, the sales dropped in the last period to 3 from the previous 11. Matching the loose interpretation made for the Fraser Neighbourhood the change from the Aug/Sept period to Sept/Oct emulates Bank of Canada’s governor Mark Carney in stating the obvious – prices are up with sales down.

Higher Levels

The East Mt. Pleasant’s Average SOLD prices witnessed a sharp increase running up from Aug/Sept’s $682,227 UP to Sept/Oct’s $841,666.

Averages are tricky, skewing easily. Medians are supposed to level the bumps, yet Aug/Sept Median Sold prices registered at $628,000 whereas Sept/Oct’s sky-rocketed to $905,000 – a hell of a level bump by any measure!

It’s not new news that the East Mt.Pleasant neighbourhood offers many great amenities on Main street. One I discovered this week is The Well in the 3000 block of Main. If a heaping plate of food from varied menu at a reasonable price is on your wish list you will get a lot of bang for your buck at The Well. Saboor Assadi is the chef. Congenial beyond reproach, the man serves it up hot and delicious. If you are lucky and Eliza is serving, you will find the total experience enjoyable. Try the chocolate moose. If you don’t mind some extra weight, it is decadent! You’ll come away with a full tummy and cash left in your pocket to make next month’s mortgage payment.

Venues like this and others are one of the driving factors for people buying in this area. Many of the brightly lit car lots of 20 years ago are gone, being replaced by niche restaurants and shops to service discerning tastes of the people in the area. Compared to former days of owning a home at 18th and Quebec this neighbourhood has evolved to become a pure delight.

Looking back the pressure on prices in the area has grown over the years. Will it continue? Considering the continual positive improvement in services and amenities developing the answer must be yes.

Proximity to the city and it’s core makes this area a natural choice when looking for a place to call home.

Numbers

FOR SALE

FOR SALE

This Month 30 Days

Last Month 60 Days

Total Listings

41

36

Total Listing Average Price

$773,650

$726,514

Total Listing Median Price

$754,000

$724,500

EXPIRED

Expired Listings

2

1

Average Expired Price

$889,500

$688,000

Median Expired Price

$889,500

$688,000

SOLD

SOLD

3

11

Average Sold ASKING Price

$812,000

$694,609

Average Sold Price

$841,666

$682,227

Median Sold ASK Price

$898,000

$688,000

Median Sold Price

$905,000

$628,000

HIGH/LOW

Active Listings – Highest List Price

$1,180,000

$1,180,000

Lowest List Price

$455,000

$455,000

Outlook

Sept/Oct, showed a definite slowing in sales and the increase in price. Like you, one wonders just how high prices will go. Knowing that in Vancouver real estate you can be right 50% of the time it is quite probable that the desirability of this neighbourhood will add more rungs to the price ladder.?

*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:

Chris Taylor Says:
October 27th, 2009 at 10:02 am

Wow, sales way down in 2 neighbourhoods and only the wealthy buying. Is it like this across the board?

It could be seasonal, it could be people listening to Carney’s harsh advice, it could be people watching the sell-off on the stock market, it could be the Olympics finally in sight and people deciding to wait it out, … who knows, yet the fun has begun.

October 27th, 2009 at 10:43 am

Chris

It is a curiosity in these two neighbourhoods. Time to run up the entire east side and see what’s shakin. Street talk says busy but, numbers aren’t holding up the chatter.

BTW, Thinking happy thoughts – it also could be that Halloween is upon us and Christmas is around the corner. 🙂

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