Pocket Real Estate
Posted November 20th, 2009 in Neighbourhood SnapShot, Vancouver East Side | 
East Side 30 and 60 Days
Vancouver’s East Side Detached real estate during the current past 30 day period Oct 20 – Nov 19 2009 compared to the previous 30 days Sept 20 – Oct 19, 2009 period recorded Total Listings dropping from 742 to 659. Sales dropped from 208 to 132. Sold Average prices dropped in concert from $764,189 to $750,413. Median Sold prices matched this dropping down from $742,500 to $729,000.
Encompassed within the 498 Active Listings 26 reduced their price.
Contrary
The numbers above fly in the face of agents reporting multiple offers with higher that asking sales prices. A feasible explanation may be that within certain areas, in particular the Fraser neighbourhood, the market remains exceptional and is an anomaly in the overall east side market.
Numbers
FOR SALE
| FOR SALE |
This Month 30 Days |
Last Month 60 Days |
| Total Listings |
659 |
742 |
| Average Total Listing Price |
$803,952 |
$817,096> |
| Median Total Listing Price |
$769,000 |
$769,000 |
EXPIRED
| Expired Listings |
29 |
36 |
| Average Expired Price |
$805,778 |
$818,621 |
| Median Expired Price |
$739,000 |
$729,000 |
SOLD
| SOLD |
132 |
208 |
| Average Sold ASKING Price |
$753,962 |
$757,695 |
| Average Sold Price |
$750,413 |
$764,189 |
| Median Sold ASK Price |
$729,450 |
$726,500 |
| Median Sold Price |
$729,000 |
$742,500 |
HIGH/LOW
| Highest List Price |
$1,698,000 |
$1,698,000 |
| Lowest List Price |
$399,900 |
$399,900
|
Pocket Real Estate Outlook
Numbers are strange things. As a reflection of a market during a short period they can misdirect. The 30 and 60 day numbers above say there is a change afoot for the east side. Yet, street talk about certain neighbourhoods suggest a different more positive outlook. The conversations conclude that east side neighbourhoods bordering or near to the west side are continuing to draw multiple offers and accordingly, higher prices than asked.
Nothing new here – real estate is all about location. The numbers above and your home’s location, will determine if there will be more or less money in your pocket when you sell.
*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.
