A Flux
Posted December 29th, 2009 in Neighbourhood SnapShot, Vancouver West Side | 
Vandusen Gardens courtesy Flickr – Vancouver’s GusF
West Side 30 and 60 Days
Vancouver’s West Side Detached homes during the past 30 day period November 28, 2009 to December 28, 2009 compared to the previous 30 day October 28 – November 28, 2009 period saw Total Listings drop from 513 to 451. Sales dropped by almost half from 147 to 76.
Santa on his holiday visits must have received a lot of special West Side cookies for he left behind big presents under these home seller’s trees. The West Side’s Average Sold-Sale price bounced up from Oct/Nov’s $1,718,051 to Nov/Dec’s $2,066,946. Accordingly, Nov/Dec’s Median Sold-Sale Price increased accordingly to $1,815,500, up from Oct/Nov’s $1,600,000.
During this past period a greater number of home sellers decided not to renew their listing mandate as Expired listings rose to 35 from Oct/Nov’s 26. Anticipated is that they will await the enthusiasm of a spring market.
Slowing, price reductions for Nov/Dec totaled 53.
Numbers
FOR SALE
| FOR SALE |
This Month 30 Days |
Last Month 60 Days |
| Total Listings |
451 |
513 |
| Average Active Listing Price |
$2,838,035 |
$2,838,035 |
| Median Listing Price |
$2,115,555 |
$2,115,555 |
EXPIRED
| Expired Listings |
35 |
26 |
| Average Expired Price |
$2,375,822 |
$2,314,757 |
| Median Expired Price |
$1,998,000 |
$1,893,500 |
SOLD
| SOLD |
76 |
147 |
| Average Sold ASKING Price |
$2,121,221 |
$1,756,814 |
| Average Sold Price |
$2,066,946 |
$1,718,051 |
| Median Sold ASK Price |
$1,814,000 |
$1,600,000 |
| Median Sold Price |
$,815,500 |
$,600,000 |
What Does the West Side Know?
Uncertain is if the West Side was on Santa’s good list. Compared to the east side numbers noted 7 days ago the west side is up in Average and Median price.
Can You Be Naughty and Nice?
Only a matter of days have passed and yet, there is a message unfolding within neighbourhood numbers that is at best confusing, at worst, disconcerting.
Referring:
A short while ago in the West Side Halloween post it was asked how certain west side buyers were about the market place. “Is their ‘sureness’ an indicator of the market’s future?” This month’s numbers appear to reconfirm that they are.
As well within the post from just a few days ago entitled the “Boxing Day Bubble” there is indication that some buyers on the east side may be drinking west side cheer. “Notable was the confidence in this thinking – you could almost feel it!”
Prior to that was a Divergence where east side numbers showed an opposite effect that synced with North Vancouver. This, all in a matter of days!
What to Make of It?
Are these signs of market change? Is this flux, a quiet light, hidden amongst the Christmas sparkle in need of our attention?
*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.
“Sales dropped by half”
Son, that is all you need to know. I told you about fairytales when you were a wee lad. We know that this is reality and that fundamentals are out of whack. Don’t tell me all that tuition spent on you went to waste – its never different here.
Son, the market is slowing.
Luv
Mom
Now mom!
“by half” – did you replace your calculator batteries?
You also said not to play with sticks – that old mom’s tale was unreal.
“It’s never different here” – is it different somewhere else?