Ebbing Real Estate
Posted November 29th, 2009 in Neighbourhood SnapShot, West Vancouver | 
West Vancouver Detached 30 Days
On course, this cruise ship quietly passed through the channel north of Keats, a popular island a few miles west of Vancouver. It’s course – it’s change in direction, subtle to all on board.
Neighbourhood market nuance, strikes similar to watching Keats pass by. From the ship’s deck you might view Keats and other islands as just another piece of rock with trees. It is the nature of islands. It is the nature of neighbourhoods! Alone neighbourhood statistics lack drama and yet, they have elements such as sale prices, list prices and volume numbers that like those islands – slip quietly into the horizon. Yet, in aggregate, our neighbourhoods contain pieces that complete a picture of the Vancouver Real Estate Market.
In recent past days some neighbourhoods started exhibiting numbers that appear contrary to continuing real estate hype hear, hear and hear.
Consider the West Vancouver Detached real estate market during the past 30 day period of October 29,2009 to November 28,2009. By all appearance, West Vancouver is on the same cruise along with North Vancouver and other areas of the city.
In this 30 day period West Vancouver experienced sales dropping from Sept/Oct’s 78, to Oct/Nov’s 47. Median Sold prices were down from Oct/Nov’s $1,426,500 to Sept/Oct’s $1,345,000. There were 115 price reductions out of a Total Listing count of 472. Added is that during this Oct/Nov period, nineteen listings were canceled compared to Sept/Oct’s five.
Numbers
FOR SALE
| FOR SALE |
This Month |
Last Month |
| Total Listings |
472 |
487 |
| Total Active Listings |
381 |
381 |
| Average Active Listing Price |
$2,672,005 |
$2,672,005 |
| Median Active Listing Price |
$1,995,000 |
$1,995,000 |
EXPIRED
| Expired Listings |
25 |
23 |
| Average Expired Price |
$2,227,460 |
$2,543,086 |
| Median Expired Price |
$1,500,000 |
$1,880,000 |
SOLD
| SOLD |
47 |
78 |
| Sold Average ASKING Price |
$1,829,172 |
$1,882,838 |
| Sold Average Sale Price |
$1,691,895 |
$1,775,057 |
| Median Sold ASK Price |
$1,298,000 |
$1,475,000 |
| Median Sold Sale Price |
$1,345,000 |
$1,426,500 |
HIGH/LOW
| Highest Active List Price |
$30,000,000 |
| Lowest Active List Price |
$240,000 |
Coming and Going
Tides control the comings and goings of almost every ship. Low tides carry the risk of these ships scraping bottom or worse being wrecked on rocks. Tides differ for different areas and as such it is critical to know when and where the high and low tide will occur.
Viewing the statistical results of different neighbourhoods is not dissimilar. You might presume, based on the recent flow of numbers coming from various neighbourhoods, that the Vancouver real estate cruise ship has made a change in course. What remains to be seen is if this ship will attempt to berth on the ebb.
*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.
