3rd of 3 LAPS

East Side L-A-P-S

Part three of a three part report takes a look at the Apartment market activity for the two year period from July 2008 to July 2010.

Today’s LAPS looks at Vancouver East’s Apartment market.

Vancouver East Apartment Units Listed

Units Listed continued to drop from Apr/10′s high of 306. Although high, it was not the highest number of units listed in a given month during this two year period. That honor was established in Sept/08 which recorded 312 units listed.

Since April’s high units listed have dropped by almost half with Jul/10 registering 155 units.

Vancouver East Apartment Units Sold

Since May/09 sales have been above the 100 mark with the exception of Jan/10 which recorded 90 sales. Since that stumble, sales climbed to reach a high of 144 in Apr/10 only to return to Jul/10′s, 105.

Vancouver’s Apartment Active Listings

Opinions like laps in a pool, continue to add to the issues surrounding the high number of active listings. Serving to cool the discussion, consider that Jul/10 recorded 533 active listings a modest number compared to Sept/08′s 764.

Active listings lowest recorded month occurred in the traditional slow period when in Dec/09 only 345 active listings were recorded.

Vancouver East Apartment Average Price

Jul/10′s average price of $353,204 has only been superseded during this selected period by the $362,050 recorded in May/10. The lowest average price during this period was recorded in Oct/08 at $280,614.

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