Vancouver Real Estate’s PULSE
Posted December 1st, 2009 in Dunbar, Neighbourhood SnapShot | 
Neighbourhood Tales
As a spectator with interest, it has been fascinating to review the state of the real estate market via a selection of neighourhoods in this our city – Vancouver. On the eve of seeing the bench mark end of the month stats, which at this writing are mere hours away, the need to review those posts to re-evaluate what appears to be mixed bag of plus and minus changes in market state.
Far be it from this author’s ability to answer the why, or what caused the different outcomes within each neighbourhood. Rest assured your opinion will be as valid as those of others.
Forever
My flat-lander friend and superb REALTOR®, Norm Fisher, from Saskatoon posted a comment some days back wherein he said: “So, this isn’t going to go on forever?”
“I have to admit that I’m feeling a bit unsettled. Lately, some of the die hard bears I know have been buying while many of the biggest bulls seem to be kind of worried. When the people who live to pump the market start sending out warnings…it’s like we’re living in Backwardsville.”
Coming from Norm this statement was a an eye opener. The Saskatoon market is of course, smaller than Vancouver’s but, it is a Canadian heartland of sort. Hearing that Norm was looking for the pulse was unusual. It triggered a quest to find Vancouver’s pulse by delving into neighbourhood market microcosms. Suffice to say that in some neighbourhoods the pulse was weak while in others, it remains strong.
Finding the Vein
Prior to the bench mark month end numbers being released time permitted a last look at the Dunbar neighbourhood. For those familiar this community, in the majority, it rests on high ground. Historically men have always run to high ground in times of natural disasters such as floods and attacks from warring factions. So it is that the high ground of Dunbar joins Kerrisdale, to once again provide safe cover.
Dunbar 30 Days
The period of September 30, 2009 to October 30, 2009 recorded 25 sales and registered an Average Sold price of $1,473,160 with a Median Sold price of $1,338,000. Moving to still higher ground Dunbar during the period of October 31, 2009 to November 30, 2009 recorded 19 sales with an Average Sold price of $1754,894 and a Median Sold price of $1,630,000. During this period there were 10 price reductions.
Numbers
FOR SALE
| FOR SALE |
This Month |
Last Month |
| Active Listings |
32 |
32 |
| Active Listings – Average Price |
$1,993,524 |
$1,993,524 |
| Active Listings – Median Price |
$1,688,444 |
$1,688,444 |
EXPIRED
| Expired Listings |
1 |
1 |
| Average Expired Price |
$968,000 |
$1,368,000 |
| Median Expired Price |
$968,000 |
$1,368,000 |
SOLD
| SOLD |
19 |
25 |
| Average Sold ASKING Price |
$1,742,368 |
$1,459,076 |
| Average Sold Price |
$1,754,894 |
$1,473,160 |
| Median Sold ASK Price |
$1,675,000 |
$1,298,000 |
| Median Sold Price |
$1,630,000 |
$1,338,000 |
HIGH/LOW
| Highest List Price |
$4,298,000 |
| Lowest List Price |
$968,000 |
Pulse Synopsis
While strong in some neighbourhoods – Dunbar, Kerrisdale, (there may be others), Pt. Grey and a few neighbourhoods in parts of the east side, North Vancouver and West Vancouver all exhibited pulses that by comparison seemed more faint.
Pulse checks while important, sometimes belie the over all health of a patient. What remains will be to see the patient dancing in December.
*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.
