Average June

April’s Showers…..

The last time we had a look at the average residential prices it seemed that we came up short on April’s showers as we watched May’s Average prices take a bit of a tumble. Today, on Canada Day 2010, the roles of attached and detached home sellers has reversed their fortunes.

Average Price 1977 – 2010

Detached

In full bloom again, June’s average detached price of $970,542 rose above May’s $955,154.

Attached

Attached properties also blossomed as June’s average attached price rose to $569,037 from May’s $541,507.

Apartments

April’s average apartment price took a hit at $427,847 bouncing in May to $444,055 only to wilt in June at $428,924.

Vancouver Real Estate Average Price Numbers:

Detached Attached Apartment
June 10 – $970,542 June 10 – $569,037 June 10 – $428,037
June 09 – $819,235 June 09 – $489,741 June 09 – $383,725
June 08 – $904,167 June 08 – $513,705 June 08 – $399,663

Vancouver Real Estate Inventory – Active Listings

Detached Attached Apartment
June 10 – 7,529
+ 25%
June 10 – 2,583
+ 15%
June 10 – 7,452
+ 47%
June 09 – 5,983 June 09 – 2,227 June 09 – 5,042

Vancouver Real Estate – Units Sold

Detached Attached Apartment
June 10 – 1,141
– 31%
June 10 – 575
– 28%
June 10 – 1,258
– 29%
June 09 – 1,677 June 09 – 802 June 09 – 1,791

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:

Boombust Says:
July 1st, 2010 at 3:21 pm

Hmmm…sales “off””, inventory UP. Uh oh.

Steve Says:
July 1st, 2010 at 4:08 pm

Does this mean just Vancouver West and East, or also North and West Van? Or more?

July 1st, 2010 at 5:45 pm

@sast’
System wide

MH Says:
July 1st, 2010 at 6:03 pm

Continuing the flattish range-bound trend it seems. Makes sense, likely more flat prices ahead.

Upenuff Says:
July 1st, 2010 at 7:46 pm

wow, looks like I should put my townhouse up for sale right now for a certain positive profit after buying just last year. This market is crazy. No fear, the buyers are out there…..

jesse Says:
July 1st, 2010 at 11:03 pm

Those are not bullish sales numbers. A chilling similarity to 2008 is developing; increased weakness extending into the summer months will bring price drops quickly.

bully Says:
July 1st, 2010 at 11:05 pm

Wouldn’t the rush to beat HST on new builds in June push up average prices? If so, i guess next few months should show a drop again.

specialfx3000 Says:
July 2nd, 2010 at 8:08 am

Upenuff, the buyers are always out there regardless of the market condition.

Move fast if you still want that ‘certain’ profit… or maybe you’re already too slow.

pistol pete Says:
July 2nd, 2010 at 11:49 am

are these average list prices or avg sale prices? you should make this clear as there is a huge difference between the two.

Jay Banks Says:
July 2nd, 2010 at 1:40 pm

Buyers are always out there, but their numbers change and so does the amount of money they’re willing (and able) to invest, which also affects the market. If the sales are going down, the prices are bound to drop as well and it seems it’s going to happen soon. So yeah, it might be already too late but I think it’s never too late to at least give it a shot.

July 2nd, 2010 at 11:54 pm

@pistol
never considered it to be unclear but, now that you point it out it makes sense.

pistol pete Says:
July 3rd, 2010 at 12:16 pm

so? avg list price, or sale price?

July 3rd, 2010 at 10:12 pm

@pistol
sale price

frazzy Says:
July 6th, 2010 at 7:35 am

Sure the markets may slide a few points over summer. The most important data is Recovery time. How long does it take a certain market to get back to it’s highs
TSX is not back
DOW is not even close
US housing market forget it.
Europe housing market not in this lifetime
Canadian market getting better each day.
Vancouver RECOVERED in 10 months.
Keep up the great posts Yatter!!!
Strong future or not? Buying opportunity on dips?? .

Oleg Says:
October 25th, 2010 at 10:30 pm

The market is awaken again. And it is the last call for those buyers who missed the summer time. My feeling that strong fundamentals will continue to support demand for housing throughout the remainder of 2010 and in 2011.

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