On The East ‘Down’ Side of Town

Community Snapshot – Vancouver East

One day left in the series of seven.

We have reviewed the markets in Coquitlam, Burnaby, North Vancouver, West Vancouver, Richmond and today we look at Vancouver’s East Side.

During the two periods September 24, to October 23, 2010 and October 24 to November 23, 2010, detached properties in the Vancouver East communities had the following results.

Listings

Total Listings decreased from Sept/Oct’s 651 to Oct/Nov’s 583.

Sales

Sales continued their slide from Sept/Oct’s 129 to 75 in Oct/Nov.

Expired, Reductions, Increases, Days on Market

  • Sept/Oct had 57 listing mandates expire slowing to 43 in Oct/Nov.
  • Price reductions in Sept/Oct were 182 dropping to 150 in Oct/Nov.
  • There were 15 price increases in both periods.
  • It took 39 days to sell a home in Sept/Oct. That lengthened to 40 days in Oct/Nov.

Average and Median Prices

  • Sept/Oct Average Ask price was $775,031. The Average Ask price increased in Oct/Nov to $788,592.
  • The Median Ask price in Sept/Oct was $768,800. This dropped to $749,900 in Oct/Nov.
  • The Average Sold price in the Sept/Oct was $746,034. In Oct/Nov this increased to $775,439.
  • The Median Sold price in Sept/Oct was $735,000. In Oct/Nov the median dropped to $730,000.
Vancouver Fire Department – 1917

Thoughts

The east side is always a melting pot of interesting numbers. Total listings are down, sales are down, expired listings are down, price reductions are down, yet the much maligned Average price is up, while the Median prices are down.

Assuming that the average price is an anomaly. One might presume that the east side detached market will, based on these numbers and the upcoming slow holiday period, be following that little chubby guy in the red suit down the chimney. Hopefully, the boys lined up above will be available to save the day.

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:

Samsonite Says:
November 30th, 2010 at 12:27 pm

Neato, look fwd to the westside numbers, and thanks Larry.

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