Part 1: Vancouver’s Detached Toss Up

Hand Basket

Depending on how you look at things you might think that in 2011 the Vancouver Detached Real Estate market was set up in 2010 for some overt event.

The view seen from your 50/50 coin flipping in the air might suggest that Vancouver is either heading for hell in a hand basket or another day in paradise.

Up in The Air

If the graph represents a coin flipping in the air then Vancouver’s detached real estate market in 2010 and 2011 is a toss up as to which year had more drama.

  • 2010 saw six months with an average price over one million dollars – the highest, October, $1,058,578.
  • 2011 saw an entire year with Vancouver average home prices exceeding one million, the highest – May, $1,223,421.
  • 2010’s Lowest average Vancouver price happened in July – $941,275.
  • 2011 the lowest month, December – $1,064,249.
  • 4 months in 2010 recorded sales that exceeded 1,100 units.
  • 2011 had 6 months that achieved or exceeded that level.
  • 2010’s highest month of listings was April at 3183.
  • 2011’s highest listing month was March at 2,968
  • Lowest listing month in 2010 was December at 658
  • Lowest listing month in 2011 was (guess what)- December at 629

Head or Tail

There were ups and downs in both years but beyond detached homes setting a new landmark average of one million dollars, overall it doesn’t really seem like the detached market delivered any stupendous surprises. Alternatively, maybe we have become jaded and simply consider these numbers as the norm.

What about 2012? Many thumbs are stretched up and yet each one knows that with the coin flipping high in the air it is too early to tell if it is going to settle on its head or tail.

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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.

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*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:

Reggie Says:
January 3rd, 2012 at 6:19 pm

Hi Larry,

I agree, as I must that things could go in one direction or the other, regardless of my thoughts.

I think the next 150 days tell the tale, if average prices are below December 2011 by the end of that period and MOI is in the double digits, then I think we are in for a period of reckoning.

JMHO

RL

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