Jammin’

Dancing in the Street

Jay Pozo over at W2 Community Media Arts wrote about the ‘Mile Long Jam’ slated for this July 17 weekend on “Vancouver’s popular and trendy Main Street.”

Admittedly, delivering a prognostication based on 5 sales is from an analytic viewpoint, over the top! However, there doesn’t seem to be a valid reason to explain the prices in this Main street market snap shot other than to agree with Pozo that Main street must be “popular and trendy”.

In the period May 14, 2010 to July 14, 2010 detached properties in the Main neighbourhood had the following results.

Listings

Total Listings decreased 2 units from May/June’s 40 to June/July’s 38.

Sales

Sales decreased by almost half from May/June’s 9 to 5 in June/July.

Expired, Reductions, Increases, Days on Market

  • May/June had 1 listing mandates expire which increased to 3 in June/July.
  • Price reductions in May/June were 11 and remained at the level in June/July.
  • There were 2 price increases in May/June and 1 in June/July.
  • It took an average of 32 days to sell a home in May/June and one can only assume because of its “popularity” it decreased to 15 days in June/July.

Average and Median Prices

  • May/June’s Average Ask price was $810,988. This increased in June/July to $822,800.
  • The Median Ask price in May/June was $790,000 which also increased to $819,000 in June/July.
  • The Average Sold price in the May/June was $795,533. In June/July this increased to $828,680.
  • The Median Sold price in May/June was $825,000. In June/July this this increased to $840,000.

They’ll Be Jammin’

Looking at these numbers I’m going to make a prediction. I say that Main street’s detached home seller’s will be jammin’ this weekend.

Bob’s Thoughts

  • We’re jammin’
  • I wanna jam it wid you.
  • We’re jammin’, jammin’,
  • And I hope you like jammin’, too.
  • Ain’t no rules, ain’t no vow, we can do it anyhow
  • I and I will see you through,
  • ‘Cause everyday we pay the price
  • We are the living sacrifice

Bob Marley

Photo Credit

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:
July 15th, 2010 at 5:36 pm

price reductions are the theme of the day

i expect sharp price drops for july

larry, what are the realtors (coffee group) thinking/saying about current conditions and trends?

July 15th, 2010 at 5:49 pm

@raving
re: coffee group – hopefully will be chatting with a few next week. Holidays, kids, and sunshine are taking precedence.

Comment On This Post

will not be published
http://www.yourwebsite.com