Fairview Snapshot

Fairview Attached

We have in the last few posts cranked up the microscope to take an up close local look some neighbourhoods.

In this local market snapshot we’ll look at the Fairview Attached market. Not surprisingly, Fairview is displaying a similar pattern to other neighbourhoods.

In the period covering June 21, 2010 to August 20, 2010, attached properties in the Fairview neighbourhood showed the following results.

Listings

Total Listings declined from June/July’s 255 to July/Aug’s 242.

Sales

Sales volume decreased from June/July’s 43 to July/Aug’s 28.

Expired, Reductions, Increases, Days on Market

  • June/July had 16 listing mandates expire. Expired listings increased to 18 in July/Aug.
  • Price reductions in June/July were 80 increased to 87 in July/Aug.
  • There were 4 price increase in both periods.
  • It took an average of 42 days to sell a home in June/July. The Days on Market increased to 59 in July/Aug.

Average and Median Prices

Fairview looking West 1891 CVA VLP 57.1

  • June/July’s Average Ask price of $504,836 and increased to July/Aug to an average of $541,421.
  • The Median Ask price in June/July was $469,800 increased to $489,450 in July/Aug.
  • The Average Sold price in the June/July was $494,255 In July/Aug this increased to $527,892.
  • The Median Sold price in June/July recorded $450,000 increasing in July/Aug to $478,500.

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:

junius Says:
August 21st, 2010 at 11:25 am

Hi Larry,

I think you are right, the good places are selling…but sales gvrd wide appear to be off close to 70% this month…vs. same 30 day period last year.

Amazing times we live in.

August 21st, 2010 at 2:57 pm

@junius
not sure if last year is relevant anymore. it’s kinda of like saying ‘when i was 21’

Melville Says:
August 21st, 2010 at 4:34 pm

Larry, does the ‘when I was 21’ analogy hold for Last year’s prices too?

August 21st, 2010 at 9:28 pm

@melville
Sure! I remember when you could buy a buy 5 bedroom house in Shaughnessy for under $100,000. That would stand as a historical landmark. To Junius’ point, I do question if it has significant comparative value beyond that relative to today’s market. IMO to say we are 70% down from last year does to my mind ‘bears’ (pun intended) a noted agenda. As a counterpoint, the market is way up compared to 1976.

jesse Says:
August 22nd, 2010 at 10:29 pm

Was down at Spanish Bank West on the weekend at the off-leash park. I think that’s one rare part of the city that hasn’t changed significantly in at least 40 years. Worth a walk to see the open field and large planted trees overlooking the Salish Sea and English Bay.

When the pace of change of the City starts getting me down, I return there for a quiet moment of respite, regardless the weather.

Love the pix. Keep it up.

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