May’s Main Street SnapShot

East of Ontario

During the past 30 day period, a snapshot of the Main Street detached market activity saw ask/sold average and median prices rise.

Local Markets

Every neighbourhood is different!

The amenities, culture, and diversity of it’s inhabitants offer unique perspectives that come together to define each neighbourhood’s distinct character.

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Each month YatterMatters selects any number of neighbourhoods to explore through SnapShots of their local real estate market.

In the period covering March 07 to May 07, Vancouver’s Main street neighbourhood experienced the following market activity.

Listings

Total Listings declined from March/April’s 58 to April/May’s 52.

Sales

Sales decreased from March/April’s sixteen to nine in April/May.

Expired, Reductions, Increases, Days on Market

  • March/April and April/May saw 2 listing mandates expire in the two periods.
  • Price reductions in March/April were 11 while in April/May it was 9.
  • There were 2 price increases in March/April and only 1 in April/May.
  • It took 21 days to sell a home in March/April and only 13 April/May.

Average and Median Prices

  • March/April’s Average Ask price increased from $896,018 to April/May’s $931,088.
  • The Median Ask price in March/April was $868,900 and increasing to $949,000 April/May.
  • The Average Sold price in the April/May was $956,888. This was a bump up from March/April’s average price of $908,274.

  • The Median Sold prices reacted similarly with March/April’s price of $907,500 increasing to April/May’s $978,000.

Reflections

Contrary to many predictions of doom and gloom Vancouver’s Main street neighbourhood is currently seeing a positive upward market. At this point this market area has surpassed the last snap shot taken continuing a solid pattern of upward pricing.

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:

RavingBull Says:
May 8th, 2010 at 8:39 pm

Larry,

Want to bet that this market is 5% lower in average and median in 3 months?

Classic market top.

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