March on the West Side

In the Past

Two months ago the West side detached market seemed in good shape. Listings were up, price reductions were down and sold properties were plenty.

Today

The West side market has experienced a small but interesting change. Compared to Jan/Feb, in the Feb/Mar period Listings are down, the number of price reductions increased a bit and sales are down while Average prices went up.

The assumption within the Average is that this increase was due to one or two higher priced properties being sold thereby skewing that number. Looking to the median price is more telling and it is here that for now, we see the downward pattern continuing.

Future View

Vancouver’s west side detached market for the most part, is a fairly resilient area. While it does have its ups and downs, overall it has historically remained immune to the majority of dramatic market fluctuations. As such, this area may serve as a barometer for other areas of the city.

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:

PostOBlues Says:
March 11th, 2010 at 5:59 pm

Thanks Larry. I am surprised that listings have not grown on the Westside – I look forward to your next update on this market.
I think it will get hammered. Everything will.
Note: that is just an opinion, based on simple mathematics.

March 11th, 2010 at 6:16 pm

@harryj45-

I thought I would be pretty all my life. T’was my only accurate projection! 🙂

PostOBlues Says:
March 11th, 2010 at 6:33 pm

Hi Larry,

haha, ya, well you did get that right!:)

I didn’t mind the stats today, still bearish overall, but perhaps the Olympics slowdown is starting to wash through the data….

Westside listings – I’m surprised they have not grown – please keep us in the loop on material changes.

I again reiterate – I think this market will get hammered in the months (10-20) ahead.

John Says:
March 11th, 2010 at 7:55 pm

Well maybe 4 days in a row was too much to ask 😉

Boise Potatohead Says:
March 11th, 2010 at 9:14 pm

Hey Leisure Larry,

Notice how every poster is desperately posting an imminent crash? Geesh.

Boombust Says:
March 12th, 2010 at 6:31 am

Why wouldn’t they? That’s the way it’s headed after all.

1 Says:
March 12th, 2010 at 7:08 am

Potato

Well, why not post about that which is imminent?

Its only obvious. Like the techmarket crash.

Get with the program Potato.

Boise Potatohead Says:
March 12th, 2010 at 7:35 am

Boise Potatohead, it’s been like that for YEARS and the bears have been wrong for all that time and they won’t be right anytime soon.

1 Says:
March 12th, 2010 at 9:55 am

Potato

I agree with the first part of your comment.

Not the second.

Let’s see what unfolds.

Obviously, the interpretation of ‘soon’ is somewhat vague – I think the turn could still be a few months off into the future – but I can always hope!

But I agree with boombust.

don’t you?

1 Says:
March 12th, 2010 at 10:51 am

you really are a Potatohead

i didn’t think people used their real names here

oh well, i learn something new everyday

March 12th, 2010 at 10:57 am

@1
ACTUALLY! I use my real name here.
Never did understand why people feel they have to hide. Still don’t!

If opinion is genuine and sincere then dialogue should not stand in the way of standing up and saying ‘this is what I think’!

I don’t get what “anonymous” is about?

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