Looking Glass

Can You See?

A magnifying glass makes small things look big.

It is a handy tool to see small changes that occur in Vancouver’s real estate market. However, when using any powerful tool, be cautious.

Vancouver East Detached Units Listed

Units Listed have slid downward from April’s high of 408 – the highest in two years. Down from July’s 214, August’s units listed totalled 170.

Vancouver East Detached Units Sold

While you were polishing the glass to improve the view, you might have missed that the number of units sold in August increased to 131. While not the high of 174 seen in March it is a couple of units higher than July’s 128.

Vancouver East’s Detached Active Listings

August’s active listings dropped to 635. A close up inspection will show you that this total is down from July’s 740 and June’s 814.

Vancouver East Detached Average Price

Surprised by the increase in units sold in what is supposed to be a terrible market the magnifying glass may overpower you when you pass it over the Average price. That has also increased, reaching $771,163, up from July’s $730,010 and approaching the year’s high in June of $803,939.

Starting a Fire

A magnifying glass is a favorite tool of Boy Scouts. Its ability to intensely focus sunlight will generate sufficient heat start embers to glow. With gentle prodding and the addition of tinder, they have the beginnings of a camp fire.

Looking at the Vancouver East’s detached numbers under the sun might lead you to things unexpected. Using a magnifying glass to see August’s numbers could have results similar to the Boy Scout. What you may see is the starting smoke from the embers of increased sales and average price. With a little tinder of decreasing active listings, it may soon become a real estate fire.