No Longer Pretty

Post Olympic Slide

West Vancouver, B.C. as you know it is located on the side of Cypress Mountain, one of the venues for the 2010 Olympics. A mountain which now, in relation to Vancouver real estate, could be viewed as a slippery slope.

Listings

March’s listing count of 502 did not change much from February’s count of 500.

Sales

59 homes sold in the February period with only a slight drop to 55 in March.

Expired, Reductions, Increases, Days on Market

• February saw 19 listing mandates expire while March had 17.
• Price reductions were at 102 in February and settled in at 93 for March.
• Price increases climbed by 6% from February’s 5 to March’s 8.
• Days on Market shortened from 54 days in February to 47 days in March.

Average and Median Prices

February’s Average Ask price was recorded at $1,811,387 dropping to March’s $1,731,078. The Median Ask price in February was $1,499,000 resting at March’s $1,449,000.

Average Sold price recorded in February registered at $1,713,532 while March’s Average Selling price was $1,663,598. The Median sold prices followed suit with February recording $1,475,000 and March $1,450,000.

Thoughts

With the visual of the graph in mind, West Vancouver residents who cross the Lions Gate bridge must from time to time, cast a glance at their beautiful homes perched on that western slope of Vancouver. No longer financially pretty, one might suppose that the ride up Taylor Way, has lost it vigor as they are greeted with real estate market prices in decline.