West Vancouver Feels the Earth Move

Fault Zone

West Vancouver as always is that wondrous mountain side place where most homes are built on solid rock. It’s real estate market however, might be on a geological fault.

This West Vancouver snapshot covers two periods from June 30, 2011 to July 29, 2011 and July 30, to August 29,2011.

Total Listings

Contrary to the general increase in listings, West Van’s total Listings experienced a slight shift in terra firma as Jun/Jul’s 584 listing dropped to Jul/Aug’s 523.

West Vancouver Homes that Sold

Sales seemed to find a crack in the earth as half of Jun/Jul’s 93 solds disappeared leaving Jul/Aug with 440.

Expired, Reductions, Increases, Days on Market

  • Expired listing mandates also dropped from Jun/Jul’s 37 to Jul/Aug’s 25.
  • Some sellers may have felt a trembler as the time it took to sell a home increased from Jun/Jul’s 32 to Jul/Aug’s 49.

West Vancouver Homes Average and Median Prices

  • West Vancouver’s detached Average Ask price in Jun/Jul was $2,316,419. The average heaved upward to $3,050,340 in Jul/Aug.
  • The Median Ask price in Jun/Jul was $2,098,000 and in parallel also shot upward to $2,269,000 in Jul/Aug.
  • The Average Sold price in the Jun/Jul was $2,217,462. Sold prices opened a rift that rose above the previous month as it settled in the Jul/Aug period at $2,868,170.
  • This snapshot’s Median Sold price in Jun/Jul recorded $1,999,000. The Jul/Aug period saw that number slip up to $2,065,000.

After Shocks

Understanding why the earth moves is a science pursued by many. Understanding the movements of the West Vancouver real estate market is considered by fewer individuals. It is presupposed that none are notable as scientists.

The numbers presented in these two periods inclines one to visualize the West Vancouver real estate market sitting on a fault zone that is in the process of diverging.

As non scientists should we be influenced by these recorded event combinations of lower sales volume, higher sales prices and extended marketing periods and presume that they are pointing to an epicenter from which will emanate future real estate market after shocks?

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:
August 31st, 2011 at 6:57 am

Hi Larry

I have very few sales in West Van but the few that they are, are in the megaMillion range. $8, 9, 10 Mill etc. Some at steep discounts from asking prices, but huge numbers nevertheless, so the graph does not surprise me.

Lower end (if you can say that for West van) stagnant, while the top end are being picked off by the usual suspects.

fish10 Says:
August 31st, 2011 at 6:22 pm

I spoke too soon. Today was a big buy day for West Van and from I can see many of the buyers agents were likely HAM.

Reggie Says:
August 31st, 2011 at 7:44 pm

Thanks for the update Larry.

I agree with Fish, looks like the stats have been skewed by some ultra high end sales.

That said, the charts are awesome, thank you for taking the time to provide the neighbourhood snapshots!

Reggie L

Hazu Chan Says:
September 6th, 2011 at 11:31 am

Larry, do you have much experience with the West Van market?

September 6th, 2011 at 1:29 pm

@hazu chan
a fair share

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