Fraser: Neighborhood Numbers

Fraser 30 and 60 Days

Fraser Detached real estate during the current past 30 day period Dec. 14,2009 to Jan. 13,2010 compared to the previous 30 day Nov. 14,2009 to Dec. 14,2009 period saw Total Listings increase by one from 32 to 33. There were no expired listing mandates in the Nov/Dec period. Dec to Jan saw 7 mandates expired with 1 Canceled listing. A loose interpretation is that from December was a month where almost half of the Active listings (those available for sale) sold. These sales numbers coincide with BCREA’s proclamation that December was the second highest month of sales in 20 years.

Fraser Detached dec14-jan13 2010

Steady as She Goes

The neighborhood’s Average SOLD prices were quite steady rounding out in the mid $770,000 mark.

Casual observation suggests that the continuing shortage of listings prevails due to the fact that the number of solds has increased. In short, December’s listing bucket emptied as fast as it was getting filled. At this point the smaller number of sales may change that scene.

Settled

Comparing the Average and Median prices for these two periods in the market suggests that the Fraser area is in harmony – both measures have held steady. As Buyers and Sellers it’s nice to find some stress relief in knowing what you might expect to pay or sell for.

Numbers

FOR SALE

For Sale

This Month 30 Days

Last Month 60 Days

Total Listings

33

32

Total Listing Average Price

$799,439

$788,971

Total Listing Median Price

$739,000

$721,500

EXPIRED

Expired Listings

7

0

Average Expired Price

$825,142

N/A

Median Expired Price

$852,000

N/A

SOLD

SOLD

3

10

Average Sold ASKING Price

$771,000

$762,258

Average Sold Price

$777,333

$776,900

Median Sold ASK Price

$746,000

$762,000

Median Sold Price

$768,000

$767,500

HIGH/LOW

Active Listings – Highest List Price

$1,399,000

$1,399,000

Lowest List Price

$638,000

$638,000

Say It Again

It bears repeating that the Fraser neighborhood may be the ‘next big thing’ as it is beginning to offer more amenities. The hole is in the ground with the new complex at 28th and Fraser, the French restaurant (Le Faux Bourgeous)is almost at reservation only status. Fierce 24 hour competition for a great cup of coffee is a little further up the street at Brecca at 49th and Fraser. In the area and need a quick bite to eat? Then you should try this place out. The service is fast and friendly but be prepared to wait for a seat.

Those who find the Main corridor just beyond their price range should check the Fraser neighborhood. Just south of 33rd above the park, you will find some fabulous view properties, that is, if they are for sale. Lots of character homes are in this neighborhood if that is what you are looking for. If you find a place much below the hill south and north of 16th be sure to ask your agent about the bog. The city has a map that outlines the bog’s perimeters and it’s important to know how solid the ground is beneath your home. The map you want is called the Peat, Assorted Soils and Historical Waterways. If you like, you can always give me a call if you are uncertain.

Commuting is drop dead simple. Hop on the King Edward bus and you connect to Skytrain at Cambie. From there city or the airport are minutes away.

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:

fishtaco Says:
January 13th, 2010 at 8:26 pm

Great post Larry, thanks for the data.

The market is on pins and needles at the moment – do we soar or crash in the months ahead? I look forward to reading your thoughts/data.

Thank you.

Larry's Father Says:
January 14th, 2010 at 7:25 pm

Listings are surging.

Son of a gun.

Data Hound Says:
January 15th, 2010 at 7:36 pm

Good Evening Larry,

I also thank you for the information and your insights.

How is the first 1/2 of January looking from a trend basis?

Tammy

Tom W Says:
January 16th, 2010 at 12:26 pm

Hi Larry

Any thoughts on the Westside?

January 16th, 2010 at 3:44 pm

Tammy,

Don’t think I can establish a trend in 16 days. What I can tell you is the in the last 14 days this happened:

Van East/West – New Listings 572 – Sold 148

A comparison to this time last year would be fruitless.

Data Hound Says:
January 16th, 2010 at 10:36 pm

Thank you Larry.

You are right, we need many months of data to form a trend, fair enough.

I was just wondering how the first part of the year was shaping up.

Any guesses for the months ahead?

Thank you Larry, I look forward to your next blog posting, this is a great site, I really like the diversity of information you provide.

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