Vancouver’s Average Price – December 09
Posted January 1st, 2010 in Real Estate, Statistics | 
Zero’s in a Black Hole
Many have been looking at that light in the tunnel hoping the zeros of 2008 would add up to another disastrous year in 2009. The reality of 2009 was that others added those zeros to their selling prices.
Almost Zero Interest Rates
With the power of cheap money it started around April – May 09 when the bulls busted out in force pushing prices higher than anyone anticipated. The word ‘surprise’ was the most common word heard throughout the summer months and early fall.
- Detached homes having hesitated a little in the fall, seems reborn as it entered the new year of 2010.
- Attached though weaker in its stride as it ended 2009′s push upward.
- Apartments may have caught a cold in December and ended with a small price sneeze below the previous months average.
Vancouver Residential Average Price Past 33 Years
Looking back:
in 1977 the Average Detached price was $69,600
Vancouver Residential Average Price 2006 – 2010
2007 to 2009 Average Numbers Compared:
| Detached | Attached | Apartment |
| Dec 09 – 952,927 | Dec 09 – 510,130 | Dec 09 – 418,096 |
| Dec 08 – 829,508 | Dec 08 – 483,970 | Dec 08 – 357,105 |
| Dec 07 – 810,911 | Dec 07 – 500,416 | Dec 07 – 407,237 |
*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.
Larry
Averages skew things. December was a slow month. Start of the slump.
Its over.
Great site by the way. Love that your Mom posts here too!:)
fISHTaco
re: Averages – Agreed! But it’s what makes it exciting if not a bit misleading.
My Mom : I think this is the mother of another as yet unknown brother.
“it’s over” — do you bears ever get tired of being so disgustingly wrong? Give up already.
Go buy a few places Mike. Wish you well. Market is gonna soar in 2010 right!
Haha – go for it bull.
Frank,
Frank being the forgiving admistrator that I am I’m sure you meant to say ‘whiner’. Your depth of knowledge must extend beyond invective directed at another commenter on this blog? If that is lacking, read the about page – you may want to find another bowl of corn flakes!
mike,
We’re OK with admitting we were wrong, no-one predicted 0.25% interest rates, 35 year amortizations, and 5% down.
We don’t need to predict increased rates, 30 year amortizations, 10% down and higher taxes – its written on the wall.
What you need to do now is predict what those will do to the market:
- We know that lower rates, longer amortizations, and lower downpayments caused the market to go up.
- What will higher rates, shorter amortizations, higher downpayments, and increased taxes cause the market to do?
Don’t think your Realtor doesn’t know the answer either. There’s a reason real estate associations are criticizing Flaherty’s move to shorten amortizations and/or increase downpayments. The same criticism has been heard of the pending HST.
It may not be over yet – yet it will end.
[...] mike at yattermatters.com 1 Jan 2010 10:56 pm – “Do you bears ever get tired of being so disgustingly wrong? Give up already.” [...]
[...] mike at yattermatters.com 1 Jan 2010 10:56 pm – “Do you bears ever get tired of being so disgustingly wrong? Give up already.” [...]