Active Listings Follow Path Down

And So It Begins

A few weeks ago Vancouver’s Active Listing count appear to be on the edge a downward trend. Since then, a more profound change taken place as the Vancouver’s Active listing count seems on a path similar to last years’ yellow brick road.

2 V’s

The last time we looked at listing inventory an assumption was made that cycles prevail and that we are creatures of habit. From that vantage point it seemed reasonable to predict that in the next 60 days Active listings would begin to drop substantially. The current quick and substantial drop appears at this time, to support that assumption.

Pushing this thought further, we may well see listings vacate the inventory pool between now and the end of December that number in the thousands.

Local Anomalies

There have been a few houses selling in local west side markets that suggest there is a little bump in price as tear down homes on 33 foot lots sell at $1.4 million. A block away the same lot and a home that has been ‘tarted’ rings in at the $1.6 range. This all within a 10 day period.

I’m seeing some retired or close to retired people cashing in and moving out of neighbourhoods in which they have lived all their lives. The rationale I’m told is their desire to be near friends who had moved to another community.

Some Horns

Putting on a bullish hat and allowing the same cyclical presumptions, you might be safe to assume that Vancouver’s upcoming spring market will jump with a surge in price levels.

The counter point to all of this is of course, that the world was different a year ago. The perennial cautionary note is that if your game plan is to purchase a home for the short term, it remains uncertain whether a tin suit and a strong heart will be enough. Suspect is that the ongoing problems in world finance will surely make Vancouver real estate’s yellow brick road a bumpy ride.

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:

Boombust Says:
November 21st, 2011 at 6:22 am

“…the world was different a year ago”

But Larry! What do events in the outside world have to do with Vancouver RE?

It’s different here. (Isn’t it?)

November 21st, 2011 at 6:28 am

@boom
I can’t pinpoint the exact moment things changed but I do recall a tremble at about the same time we were allowed to keep chickens in our back yard 🙂

vanpro Says:
November 21st, 2011 at 8:37 am

Aren’t sales trending lower as well? Last few months REBGV & FVREB stats have shown near 10 yr. low in sales….

Rob Says:
November 21st, 2011 at 9:30 am

I guess overpriced real estate is the place to be. Our ignorance in believing prices always go up continues. I have been impressed at the continued pumping of real estate in this city. We don’t look outside our narrow vision to see how other areas in BC are crumbling. Greed will befall many, and it will be sad to see.

canadien Says:
November 21st, 2011 at 10:38 am

“The rationale I’m told is their desire to be near friends who had moved to another community”

Hahaha…
I guess if you said that they are moving because all of the sudden they find themselves surrounded by foreign neighbours that don’t speak english and have a strange lifestyle, would sound racist in our politically correct world.
But it would certainly be closer to the truth.

November 21st, 2011 at 10:55 am

@canadian
“closer to the truth” – what kind of crap are YOU pedaling!!

Kits_Parent Says:
November 21st, 2011 at 3:53 pm

I live in the neighborhood I think Larry is referring to,
While there is a small no. of overseas (1st gen) owners in our block (2 that I know) my experience is they are shy but once known get on just as well with neighbors as the rest of us. (certainly not chasing any one out and I haven’t seen any strange lifestyles !
I do know 1 neighbor retiree who left to be nearer kids.
In Kits at least we all seem to be getting on, sorry not an exciting headline for “canadien”

I did a very unofficial survey of our neighbors while putting up Halloween decorations:
– Most are/were professional, with 1/2 paid off mortgages (driving Corollas, not Lexus.s or is that Lexi?)
– about half have kids.
– Most able to live here as they built up equity over 10+yrs in previous Vancouver town house/condos.
-Most acknowledge our luck, but do not want to see ever rising prices for our kids sake.

Not the picture painted in the more excitable media stories.

KP

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