Vancouver’s Glowing Average Price

Fall Out

Talk is intermingled with fact that here, in Vancouver, radioactive particles are falling after traveling on the jet stream from the Fukushima nuclear plant in Japan.

Scientists at the Canadian Nuclear Safety Commission are sure that Fukushima is the originating source for the traces of radioactive iodine. Vancouver Realtors® may not be sure of the causal origin of this latest market adjustment, but they are very aware of the fall out.

The price drop, some are sure to claim, will be as injurious to some people’s health as is extended exposure to radioactive iodine. Determining which, will be the subject of ‘glowing’ conversations in the days ahead.

Average Price 1977 – 2011

Detached

The average price of a detached home in Vancouver recorded $1,173,395 in February – a record eclipsing January 2011’s $1,144,537.

With early prices reaching levels that seemed too hot to handle, March’s average price fell out of step as it cooled to $1,155,007.

Attached

Attached average prices sizzled in the glow of February’s all time high of $573,534. In March the average price started to cool as it settled in at $573,118

Apartment

Apartment average prices dared! Now aglow, the surge against falling prices achieved the highest average price ever recorded of $465,997.

Vancouver Real Estate Average Price Numbers:

Detached Attached Apartment
March 11 – $1,155,007 March 11 – $573,118 March 11 – $465,997
March 10 – $1,002,020 March 10 – $533,481 March 10 – $432,754
March 09 – $792,248 March 09 – $437,233 March 09 – $353,064

Vancouver Real Estate Inventory – Active Listings

Detached Attached Apartment
March 11 – 5,365
-2%
March 11 – 2,111
+10%
March 11 – 5,634
-8%
March 10 – 5,501 March 10 – 1,919 March 10 – 6,161

Vancouver Real Estate – Units Sold

Detached Attached Apartment
March 11 – 1,799
+33%
March 11 – 663
+20%
March 11 – 1,622
+29%
March 10 – 1,344 March 10 – 549 March 10 – 1,253

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:

fish10 Says:
April 1st, 2011 at 8:00 pm

What is that mine eyes doth see- is that a reduction in the average price?!

Say it is not so. Quick hurry thee and buy one, no buy three before the price doth rise once again like the mighty oak beckoning to Heaven.

The full effects of Fukushima may not be felt for several months they say, maybe the same will be for housing.

Jim Says:
April 1st, 2011 at 8:28 pm

Now Larry…You are being obtuse.
Is the market super hot?
Is it due to correct?
Come on man give.

April 1st, 2011 at 11:15 pm

@jim – you know folks pay large for that info. 🙂
@fish – ‘radiant’ words a glowing 🙂

Jim Says:
April 2nd, 2011 at 8:16 am

The Japnese quake if anything is heightening chinese interest in Vancouver investment.
The Chinese are buying lot value homes on the Westside or uber mansions and little in between. I don’t know how to say this with out sounding racist….but with the Casino and Hotel being built on UBC golf coures by the Musqueum in 2020 and the Canda line ripping up 10th….the threat of Tsunami chasing Chinese investors out of Richmond,,,,well you get the picture.

April 2nd, 2011 at 12:48 pm

@jim,

I’m quite certain that I will watch the paint dry on that canvas before getting too excited about your picture.

Jim Says:
April 2nd, 2011 at 5:35 pm

Larry-

Touche’

bbcoq Says:
April 2nd, 2011 at 7:40 pm

Lots of sold signs in the tri-cities-but at lower price point.
BTW I hear that Burnaby is now the hot area for mainland Chinese investors-influenced by the Japanese eathquake of course. The source? An asian realtor specializing in selling Vancouver to mainland chinese.

stats don't lie Says:
April 4th, 2011 at 9:26 am

So, Vanouver has been seeing 21% per year price growth from 2009 to 2011 for detached SFHs?

($792,248 to $1,155,007)

Any bets on whether that continues through March 2012? That would put the average detached SFH at approximately $1.4M!!!

Vancouverite Says:
April 5th, 2011 at 1:02 pm

Lots of renters laughed at the idea that vancouver real estate will hit the $1 million dollar average. Look at where we are now. We have been consistently holding that amount and higher.

Sometimes it’s better to admit your mistake and buy and move on.

vanpro Says:
April 5th, 2011 at 2:01 pm

Larry, will you be psoting the link to the (pdf) stats package? Thanks in advance.

April 5th, 2011 at 5:34 pm

@Vancouverite

“Sometimes it’s better to admit your mistake and buy and move on.”

With due respect, your perspective smacks of bias. You forgo the fact that some people prefer and or choose to rent for any number of reasons that suit them. Your comment suggests that all renters are wrong – IMO that is foolish! It is as foolish as suggesting that if you don’t drive a BMW you should not be allowed to use the freeway.

April 5th, 2011 at 5:43 pm

@vanpro

strange – haven’t seen it yet.

L8erDude Says:
April 6th, 2011 at 8:08 am

“Your comment suggests that all renters are wrong – IMO that is foolish! It is as foolish as suggesting that if you don’t drive a BMW you should not be allowed to use the freeway”

@Larry,
Of course everyone has a right to use the “freeway”. But if your car is old and slow isn’t it courteous to stay out of the passing lane? Folks driving these cars are travelling in lanes they have no right to be in – they think that no-one should exceed 50km/hr in an 80km/hr zone just because their own car is not capable.

April 6th, 2011 at 12:04 pm

@L8rdude

Whoa!!

“they have no right to be in” –

I’m having a problem with your statement as carries a tone that puts you in a place I don’t think you mean to be and leaves me to ask if you were you recently appointed judge and jury? Please tell me you really didn’t mean to say that or suggest what it implies.

L8erDude Says:
April 6th, 2011 at 12:23 pm

@Larry
Home ownership is not a god given right that some think it is. It’s earned, it’s expensive, it involves a high level of committment. There are rules and norms to home ownership that prevent entry.
No-one has a “right” to home ownership, just as no-one has a right to travel in a lane their car is ill equipped to drive in. If your car is not fast enough I recommend getting a new car, or adding a turbo feature.

April 6th, 2011 at 2:44 pm

@L8er

Dude – where is your compassion for your fellow man? Let’s hope the rung on which you stand never fails.

L8erDude Says:
April 6th, 2011 at 3:24 pm

Dude aka Larry

compassion? I’m not talking about wanting folks to be homeless Larry. But the sense of entitlement I’ve heard about home ownership blows my mind. Besides, I have more compassion in my little finger than you have in your entire body…wanna compare resumes?
This is a message to you Larry – not for public consumption

April 6th, 2011 at 5:16 pm

@L8erdude

yes the entitlement story does get tiring but no more so than many of the rants here and on other blogs. it’s just part of the mix.

as to the trailer – if it’s a comment its public and will be published at my discretion. You want a private conversation remove the anonymous cloak then phone or email me, book some time and cajole me into buying you a coffee. 🙂

bbcoq Says:
April 6th, 2011 at 6:25 pm

Yikes! For every property sold there is a buyer and a seller-meaning two opinions-likely opposite-one bullish and one bearish-when did having a different opinion on something as unpredictable as the short-term value of real estate become grounds for a bloodfeud!
Neutral corners gentlemen!

I come here for the diversity of opinion-lets expect that we disagree.
And any market needs a steady supply of new buyers-sooner or later most renters become buyers-and the performance of real estate has amplified the hunger for it-why would people not feel entitled to home ownership-it is the North American dream and is supported by all the media and marketing people consume-from their bank to HGTV to what they hear from their peers, friends, colleagues and family. Real estate ownership is stronger than most religions in Vancouver.
Vancouver’s market will keep going up until it doesn’t-it is about as simple as that.
Want an discussion-stay here-want an echochamber-lots of places for that.

Polytheism Says:
April 11th, 2011 at 11:58 pm

well said, bbcoq

everyone loves an echo chamber – who doesn’t like to hear that their opinion is correct all of the time..

but that’s what life is like in authoritarian, one party states.

L8erDude Says:
April 12th, 2011 at 8:18 am

@ BBQ/Poly
Also, no-one needs to be told how wrong is it to pay high prices when they’ve just bought the biggest investment of their lives.
For 10 years bears have been telling fresh buyers that they’ve: made the biggest mistake, will be under water in 6 months, the bank will soon be swooping in, creeping unemployment, etc. etc. etc. Really, there is so much resentment and jealousy from the bear camp, all because people choose to have a place to call home.
And you’re wrong BBQ, buyers and seller are of the same view not opposite; they both believe in Vancouver real estate. The bear is one that will never be buyer or seller

Polytheism Says:
April 12th, 2011 at 12:03 pm

“Really, there is so much resentment and jealousy from the bear camp, all because people choose to have a place to call home.”

that’s a bit rich, man, BC

(some are living, some are flipping – i’ll wager that in this market climate, most nowadays are speculating – big difference – “the consequences will never be the same!”) lol

look at all our new bourgeoisie landlords – the irony!

Comment On This Post

will not be published
http://www.yourwebsite.com