Vancouver West Home Sales Snapshot

West Side Story

It might be a seasonal thing. Santa’s come and gone. So too did the bluster of Boxing Day shopping madness.

It’s hard to say if some Vancouver Realtor’s ever arrived but it seems in keeping to assume that if they did then they too have gone. With equal measure the business of buying and selling of homes on the West Side of Vancouver appears to part of a seasonal thing.

West Side Story

It might be a seasonal thing. Santa’s come and gone. So too did the bluster of Boxing Day shopping madness.

It’s hard to say if some Vancouver Realtor’s ever arrived but it seems in keeping to assume that if they did then they too have gone. With equal measure the business of buying and selling of homes on the West Side of Vancouver appears to part of a seasonal thing.

This snapshot of Vancouver’s West side detached properties covers two 30 day periods that begin October 28 and ends on December 28 2012.

Total Listings

Total Listings are slowly going away as the Oct/Nov’s 908 units dropped to Nov/Dec’s 855.

Vancouver’s West Side Sold Homes

While Boxing Day Sales may have emptied many retailer’s shelves that was not the case for Vancouver West homes. At 71 the Oct/Nov sales were more than double the total number of sales in the Nov/Dec period. The 31 sales recorded in that period left a number of Vancouver West home sellers sitting on the shelf. It could be a seasonal thing!

Expired, Days on Market

  • Oct/Nov saw 112 listings mandates expire. This number slowed to 100 in the Nov/Dec period.
  • Of those homes that did sell it took an average of 53 days in Oct/Nov. The Nov/Dec period saw that climb to 61 days. This might not be a seasonal thing. Conversations note that mortgage lenders are pulling hard on the mortgage qualification draw string as they gather more information from borrowers to offset their risk comfort. Expect to that draw string pulled ever more tight in the months and years ahead.

Vancouver’s West Side Average and Median Prices for Homes Sold

  • Oct/Nov’s Average Ask price was $2,308,681. The Average Ask price saw a decrease Nov/Dec to $2,255,187.
  • The Median Ask price in Oct/Nov was $1,860,000. The Median Ask price bounced up in Nov/Dec recording a price of $2,048,000 – approximately a 12% decline.
  • The Average Sold price recorded in the Oct/Nov was $2,142,002. Nov/Dec saw a slight drop to an Average Sold price of $2,058,181.
  • The Median Sold price in Oct/Nov was $1,775,000. In the Nov/Dec period the Median Sold recorded was $1,917,156.

Somewhere

At this time of year it has historically been easy to point to a seasonal short term market direction. The direction of things and the Vancouver real estate market might choose to go in the near future may prove worrisome for some. They may ponder whether the short term seasonal direction the current market is more the beginning of a long road.

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.

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