Eyes on Vancouver Average Home Price

Eye Popping

Many eyes watch as Vancouver average home prices are served up in October.

October’s Average Residential price boiled in only one of three segments. Not feeling the heat detached and apartment prices remained cool while attached prices cooked.

Average Price 1977 – 2012

Detached

Although detached prices dropped from September’s $1,119,166 to October’s $1,116,108, Vancouver’s detached average price burbled to a level higher than most months in 2012 with the exception of February’s $1,235,244.

Detached Active listings dropped from the year to date high of 8,231 with an October total of 7,619.

Attached

Vancouver’s Attached market segment served up an average October price of $583,376 – the second highest average eclipsed only by March 2012′s $593,139.

Apartment

October 2012′s average apartment price of $429,371 stayed raw as the second lowest average price for 2012. July remained at the bottom of the cauldron at $406,366.

Vancouver Real Estate Average Prices:

Detached Attached Apartment
October 12 – $1,116,108 October 12 – $583,376 October 12 – $429,371
October 11 – $1,162,349 October 11 – $571,425 October 11 – $446,296
October 10 – $1,058,578 October 10 – $519,187 October 10 – $441,969

Vancouver Real Estate Inventory – Active Listings

Detached Attached Apartment
October 12 – 7,619
+ 17%

October 12 – 2,689
+ 09%

October 12 – 7,062
+ 09%

October 11 – 6,494 October 11 – 2,449 October 11 – 6,434

Vancouver Real Estate – Units Sold

Detached Attached Apartment
October 12 – 798
-18%

October 12 – 338
-11%

October 12 – 803
-16%

October 11 – 977 October 11 – 382 October 11 – 958

*Percent = YOY

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:

rabbit Says:
November 1st, 2012 at 11:02 am

Thanks for the stats. Larry with the assessed values coming out soon do you expect the new assessed values to reflect the moderation in real estate prices.

Form Man Says:
November 1st, 2012 at 1:35 pm

interesting stats Larry,

based on info from CREA we can expect home prices to experience downward pressure if MOI ( months of inventory) is higher than 7. According to the numbers provided above this is where Vancouver is :

detached = 9.54 MOI
attached = 7.95 MOI
apartment = 8.79 MOI

in Kelowna where I live, MOI has been higher than 12 ( at times approaching 20 ) for 3 years now. As one would expect, prices have been falling the entire time……..

Smoking Man Says:
November 1st, 2012 at 5:04 pm

I for one think the average price will be firm or tick up as places listed at $6million or so get sold in the low $4million range.

JMHO

November 1st, 2012 at 7:42 pm

@rabbit
probably but they will be pegged as of July 01

November 1st, 2012 at 7:44 pm

@form man
well then your numbers might imply that things aren’t so bad here :)

November 1st, 2012 at 7:45 pm

@smoking
yup that makes sense

November 1st, 2012 at 8:21 pm

As always Larry, thanks for the prompt average price updates.

Form Man Says:
November 1st, 2012 at 9:54 pm

aren’t bad yet anyway……..

Van guy blazin kush Says:
November 2nd, 2012 at 7:55 am

Good info Larry as always. But please don’t use Cam’s predictions anymore. He said we have strong employment which should keep RE stable. In fact, our job market has struggled and is deteiriating in the last report.

November 2nd, 2012 at 1:12 pm

@van guy
perfection evades all

Reasonfirst Says:
November 2nd, 2012 at 3:46 pm

http://www.statcan.gc.ca/pub/71-001-x/2012010/t015-eng.htm

Employment in Vancouver grew 0.1% over the last year. Cam is not even in the same ball-park using the word “strong”.

November 2nd, 2012 at 5:06 pm

@reason
write him and let him know.

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