Neighbourhood Numbers – Main Street

Main Street Neighbourhood

A snapshot of the Main street neighbourhood reveals a pulse that emulates a pattern that appears to be unfolding in Vancouver’s east side market.

Listings

Main street listings took a very small drop of two units in Feb/Mar down from Jan/Feb’s forty-two.

Sales

As similar pattern in the number of sold units unfolded with Jan/Feb’s twelve units sold being reduced to 9 in Feb/Mar.

DOM and Price Reductions

The Days on Market increased by 3 days from 12 to 15 while Price reductions stayed level at 11.

Average and Median Prices

Although not as dramatic as some of the month to month prices differences in the Renfew neighbourhood, Main Streets Average Ask price was up from Jan/Feb’s $811,491 to Feb/Mar’s $817,755. The Average Sold in Jan/Feb of $825,291 climbed to Feb/Mar’s $833,154.

The Median Ask bumped higher from Jan/Feb’s $798,500 to Feb/Mar’s 838,000 while the Median Sold matched that climb rising from Jan/Feb’s $834,750 to Feb/Mar’s 871,500.

An Experiment

The nine units sold in Feb/Mar are presented here as an experiment. I don’t know how interesting this is other than to associate the actual property in relation to the ask and final sale price.

Thoughts

The Main street neighbourhood is another piece in the puzzle of the entire east side market. It supports the sense that currently the east side is experiencing a little bump. The reasons were noted before but bear mentioning again namely – the the mortgage rule changes, the Bank of Canada governor’s comments increased odds of interest rate hike within next few months the potential earlier interest rate increase and let us not forget the impact of the HST.

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:

John Says:
March 26th, 2010 at 5:10 pm

1.1m for house 8? I hope it looks a lot better on the inside than it does on the outside.

Best place on meth Says:
March 26th, 2010 at 6:07 pm

It would be very interesting to see these kinds of numbers for downtown/west end condos as the listings there are going through the roof.

That’s where the meltdown will begin.

March 26th, 2010 at 6:12 pm

@meth
Yes it would but, there only so much time in the day.

Best place on meth Says:
March 26th, 2010 at 6:27 pm

Larry,
Weren’t you not too long ago lamenting the ZERO west side listings under a million that weren’t in Marpole?

Looks like 8 of them popped up recently.

Or maybe you weren’t lamenting, just observing.

March 26th, 2010 at 9:51 pm

@meth
Why lament? It is what it is. But it’s fun to watch.

@Boombust
when this cycle passes will it be as easy to predict the upswing???

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