Vancouver Real Estate – June 2011’s Average Price

Oops

The average price for all three Vancouver residential housing segments had an ‘oops’ moment. The question on many minds will be whether the market has tripped or stumbled?

Average Price 1977 – 2011

Detached

Vancouver’s average detached price’s moment saw a decline in June to $1,215,265 from the previous all time high in May of $1,223,421.

Attached

Attached average prices in June had a small ‘oops’ moment as it dropped from May’s $555,057 to June’s $554,763 $555,057.

Apartment

Apartment’s average price ‘oops’ moment appears more committed as it continues to drop from April’s high of $483,424 to June’s $445,981.

Vancouver Real Estate Average Price Numbers:

Detached Attached Apartment
June 11 – $1,212,265 June 11 – $554,763 June 11 – $445,981
June 10 – $970,542 June 10 – $569,037 June 10 – $428,924
June 09 – $819,235 June 09 – $489,741 June 09 – $383,725

Vancouver Real Estate Inventory – Active Listings

Detached Attached Apartment
June 11 – 6,253
-16%
June 11 – 2,403
-06%
June 11 – 6,450
-13%
June 10 – 7,529 June 10 – 2,583 June 10 – 7,452

Vancouver Real Estate – Units Sold

Detached Attached Apartment
June 11 – 1,473
+29%
June 11 – 525
-08%
June 11 – 1,266
-0%
June 10 – 1,141 June 10 – 575 June 10 – 1,258

*Percent = YOY

Image Credit

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:
July 1st, 2011 at 3:48 pm

That’s a hefty drop for Condos Larry. One more of those and we will be negative YOY.

It would be interesting to see the numbers for Richmond, now that the HAM army has moved on to the North Shore. Did it leave destruction in it’s wake..?

Your timely numbers saved me from having to shut my blog down 🙂

July 1st, 2011 at 7:30 pm

@fish re Richmond. Remind me in a week. I off sailing.

Jim Says:
July 3rd, 2011 at 9:07 am

fish10,

The relative value of West Vancouver to Westside Vancouver or even Richmond is startling.
More house, bigger lot, views, for less money-simply because of the bridge?

Best place on meth Says:
July 3rd, 2011 at 8:20 pm

@Jim

Foreign money-launderers don’t care about value, just a safe place to stash their cash.

bbcoq Says:
July 4th, 2011 at 7:59 pm
Dydgi Says:
July 5th, 2011 at 10:11 pm

Hi Larry – any coffee talk updates?

ps. congrats on selling the Dunbar home!

vanpro Says:
July 7th, 2011 at 9:45 am

Larry: can you post link to the stats package (pdf)? Thanks.

July 7th, 2011 at 10:15 pm

@dydgi

been away up coast so no current coffee chats

Re Dunbar house – Thanks.
Interesting reference note on this property.
Compare these 2 properties. Both houses are tear downs with identical lot sizes
The differences –
House #1 sold in 50 days for $1,585k. It has a north facing front door, no lane access, on the downhill side of the street.
House #2 sold for $1,900k in 6 days. It is 200 feet away from house #1, but has a back lane, a front door that faces south and is on the uphill side of the street.

Bottom line – it’s tough to be accurate when evaluating in this market. Even the appraiser was wrong on this one.

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