Vancouver Average Prices – Shell Game

One Out of Three

Vancouver Real estate has again delivered us a changed view of the market.

Like a shell game, anticipating the month end outcome of the Vancouver market is challenging. You just never know under which cup the pea will be hiding.

In November we see a reversal of fortunes in two out the three segments. Detached and apartments have reversed course to find this time, the pea under the attached cup.

Average Price 1977 – 2010

Detached

If you are a detached or apartment home buyer the results may be your first Christmas present. The average price of a detached home in Vancouver has retreated from last month’s all year high of $1,058,578. Lifting the first cup, you will find that the average price has receded to $1,043,161.

Attached

The Attached average price continues its bouncing characteristic witnessed all year. Under the second cup you will discover that it has bounced up from last month’s $519,187 to a summer time level of $539,429.

Apartment

Apartment average prices peeked out from under the third cup at $416,702 a number many apartment owners will not be happy to see as it is a new low for 2010, challenged only by January’s slightly higher $420,566.

Vancouver Real Estate Average Price Numbers:

Detached Attached Apartment
November 10 – $1,016,324 November 10 – $534,085 November 10 – $430,712
November 09 – $903,496 November 09 – $510,130 November 09 – $418,096
November 08 – $745,778 November 08 – $442,320 November 08 – $346,703

Vancouver Real Estate Inventory – Active Listings

Detached Attached Apartment
November 10 – 5,019
+ 08%
November 10 – 1,946
+ 17%
November 10 – 5,419
+ 13%
November 09 – 4,621 November 09 – 1,651 November 09 – 4,767

Vancouver Real Estate – Units Sold

Detached Attached Apartment
November 10 – 1,054
– 10%
November 10 – 407
– 22%
November 10 – 1,054
– 24%
November 09 – 1,175 November 09 – 523 November 09 – 1,396

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:

Bob Lucas Says:
December 1st, 2010 at 9:15 am

Just a suggestion Larry, wouldn’t it be interesting to overlay the median in order to determine skewness of the averages?

December 1st, 2010 at 12:27 pm

@Bob Lucas
yes that would be great however, the problem is that at this point I have not had confirmation from the board that this rack of numbers even exists in a none machine format.
Stats and records were for many years not considered a high priority until a few years ago. This is not meant to blow my own horn but, back in 86-87 as a young pup Realtor® the average price graph didn’t exist. Pre internet we Realtors® and you consumers had very little information of this kind available. It was only by accident as a result of volunteering at the REBGV at that time that I discovered a file drawer full of single sheets of paper with the monthly average number on them. My search only found records going back to 1977 and there was only a single copy. Minions at the board hadn’t figured out Excel yet and so I took those documents home and on my old XT 10mhz machine I tabulated the numbers you see today. I gifted that work back to the board and they have maintained the file ever since.
As to having the medians – great suggestion but, from what I know at this point in time these results are not readily available. I am however, working on it – elephants are hard to move.

SantasBells Says:
December 1st, 2010 at 7:29 pm

Larry – what is the mood/outlook for your coffee talk (realtor gathering) meetings?

Any sense of changes (positive or negative) in the market – will this hot market continue unabated for now?

Bob Lucas Says:
December 2nd, 2010 at 12:37 pm

Thanks for the insight Larry. I didn’t realize the dearth of available data.. perhaps you have a future in data services?!

December 2nd, 2010 at 5:18 pm

@bob lucas
“future in data services”
Not really – just a hacker but, thanks.
What I do know is that the consumer could certainly use such data to help make wise decisions – every little bit helps.
To some of us we don’t know life without the web, texting, cell phones or Facebook. In its strictest terms, the web as we know it today is really just starting so the expectations that such data might prove useful some day was just not on the minds of many people back then. I guess it was my parents depression mentality that was drilled into me claiming that you didn’t throw anything away just in case you might need it some day. Unfortunately, that wasn’t the case in many public service organizations.

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