Middle Muddle

1 Stop

Comparing three Vancouver real estate market sectors at once provides an overall picture. Collectively viewing market response in the Vancouver east detached, attached and apartment provides a unique perspective.

Detached

Units Listed

April 2008 took first prize for have the greatest number units listed at 410. April 2010 was close at 408.

Active Listings

Current For Sale signs suggest another record was broken in the detached sector but it didn’t happen in April 2010 which recorded only 706 active listings. It’s one third below the July 2008 level of 1080 units.

Units Sold

The number on units sold in April 2010 was 168. Not bad – but not as good as June 2009 at 238.

Average Price

April’s $777,786 is a lot of money to pay for an east side home but buyers paid more in March 2010. That month’s average price was $802,364.

Attached

Units Listed

April 2010 took the all time first prize for have the greatest number units listed at 117. The runner up was May 2008 at 102.

Active Listings

April 2010′s one hundred and sixty attached active listings did not come close to September 2008′s two hundred and forty-two.

Units Sold

April 2010′s 41 sold units wasn’t too bad but July 2009 was the clear winner at 71.

Average Price

Yes, April 2010′s average price seems rich at $581,148 that is, until you find February 2010′s $584,686.

Apartment

Units Listed

There is no question that a lot of apartment units were listed in April 2010. At 306, it did not reach the higher level of 312 set in September 2008.

Active Listings

584 active apartment listings is a healthy number until you consider September 2008′s 764.

Units Sold

The number of apartment units sold in April 2010 was 144 which is up there but not close to July 2009′s 179.

Average Price

East side apartments April 2010 average sale price of $343,743 did not exceed May 2008′s $357,954.

Middle Thoughts

A mixed bag of prices in the three sectors is being met with a consistently growing number of units listed and active listings. Average prices dropped in the detached and apartment sectors but increased in attached. Sold units in apartments increased but dropped slightly in the detached as attached units held steady.

It’s supposition that buyers in April have side stepped the price muddle of home buying finding the value in apartments too little and homes too much settling instead for the middle road in an attached unit?