Vancouver Apartments – LAPS Series

A New Low

Some Vancouver Realtors® will tell you that when some form of disaster befalls them they have struck a low in their career. Then, as things change and the sun shines on them for a while, they often forget about the past only to be smacked down again which in some circles, might be considered a new low. To those who have had their ups and downs they just consider it part of their career.

In comparison, the Vancouver’s apartment market has since January 2010, enjoyed almost a year of sunshine before dark clouds arrived in November to deliver a new low in average prices for Vancouver apartments.

Vancouver Apartment Units Listed

Apartment units Listed in November continued to drop to a level approaching the low of December 2009’s low of 1,036. Since that time, a higher low for the year occurred in August with only 1,683 units being listed. It would be reasonable to conclude that November has set a new low with only 1,395 units being listed.

Vancouver Apartment Units Sold

The inverse of a low suggests a high and although November 2010’s 1,054 sales were higher than the previous 3 months, it wasn’t as high as April 2010 when 1,526 units sold. It also didn’t rate as the lowest months of sales. That accolade is reserved for January 2010 that recorded what was then a new low of 891.

Vancouver’s Apartment Active Listings

Active Listings much like sales dropped to 5,419 from the 6000 plus range seen during the months of March at 6,161 through October at 6,062 with the highest being May’s 7,528. Likes sales, Active listing’s low was recorded in January at 4,621.

Vancouver’s Apartment Average Price

November’s Average price of $416,702 takes the new low for 2010 and the last 4 months of 2009. The prior new low was recorded in August 2009 at $392,501.

Lowest of Lows

You might consider this view of fashion a new low in taste or a reflection of what is left of the gains made in apartment average prices during 2010. Alternatively, it may be only a partial reflection if the yet to be recorded numbers of the approaching traditional December ‘slow’ period in Vancouver real estate reveal the lowest of 2010’s lows in Vancouver apartment numbers.

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.

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*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:
December 13th, 2010 at 2:11 pm

Hi Larry,

Any sense of sales volumes vis-a-vis last December?

Coffee talk – any ‘read’ on what other folks in the industry are thinking/hearing?

Love your posts (well, almost all of them), superb data, on behalf of all readers – thank you.

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