Vancouver’s Average Price – December 09

Zero’s in a Black Hole

zeros in 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

Average Price Graph 01-01-2010 12-34-39 AM

Vancouver Residential Average Price 2006 – 2010

Average Price 4 Year 01-01-2010 12-44-50 AM

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.

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.

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*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 1st, 2010 at 3:38 pm

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!:)

January 1st, 2010 at 6:13 pm

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.

mike Says:
January 1st, 2010 at 10:56 pm

“it’s over” — do you bears ever get tired of being so disgustingly wrong? Give up already.

fishtaco Says:
January 2nd, 2010 at 1:45 pm

Go buy a few places Mike. Wish you well. Market is gonna soar in 2010 right!

Haha – go for it bull.

January 3rd, 2010 at 3:48 pm

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!

Chris Taylor Says:
January 4th, 2010 at 9:36 am

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.

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