Median Price a Mark in Time

Certainty

Over time we keep track of Vancouver Real Estate prices using such tools as Averages Prices, Median Prices, House Price Indexes, Whispers and Hearsay.

One or all of them are correct or almost correct some of the time. Making sense of this arsenal of information is the fun and frustrating part. As a Vancouver Realtor® experience tells me the only element that is certain is that time just keeps on ticking.

Time to buy a house

Median Price

For your consideration here is my tabulation of Median Prices based on Vancouver Real Estate Board data dating back to the year 2000. The tabulation is for four areas that include Vancouver West, Vancouver East, West Vancouver and North Vancouver.

To those who might expect a median price graph for every area the board serves I’ll leave you with this frustrating thought – I ran out of time.

4 Area Median 2013 04 03 10-25-24 PM

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:

Alex Says:
April 4th, 2013 at 9:31 am

As someone who is hoping to eventually purchase in North Van, this is very helpful. Thanks Larry!

fish10 Says:
April 4th, 2013 at 10:44 am

Thanks for this Larry.

Another useful metric to add to the info stream.

Seems like Median has stalled and not really gone anywhere for a couple of years. It certainly has some wild swings in there. When sales are low (sample size) , the swings will be exaggerated like average price.

The trend in Benchmark, MOI and Inventory are definitely pointing to a weak market.

April 4th, 2013 at 10:57 am

@Alex,

When you are ready don’t forget who loves yah! 🙂

April 4th, 2013 at 11:00 am

@fish10
This mess won’t sort itself out for some time.

Alex Says:
April 4th, 2013 at 11:45 am

I intend to, thanks Larry! 🙂

Reasonfirst Says:
April 4th, 2013 at 2:10 pm

So I guess asking you to adjust for inflation is a out of the question. 🙂

harper Says:
April 4th, 2013 at 2:38 pm

Are these medians for LISTED or SOLD properties? Any chance for median prices per square foot metrics for the same areas and time period? Unfortunately, BC continues to suppress this vital info from the public.

April 4th, 2013 at 2:38 pm

@reason
I’m on it! Appreciate the chuckle. 🙂

April 4th, 2013 at 2:46 pm

@harper,

They are Sold Median Prices
I feel comfortable in saying that I don’t think anybody is purposely trying to suppress any of this.

Vital!! – I don’t think so! I’m not trying to be overtly glib but, I can’t ever recall a buyer removing conditions from their contract to purchase because they didn’t have the cost/sq.ft.
BTW if you are using the find your home feature you will find that information there. Ironically, Google Analytics tells me that section is very rarely visited.

harper Says:
April 4th, 2013 at 4:39 pm

Thanks! Happy to provide amusement!

Clever sophistry above.

– You may feel comfortable, most don’t. A large portion of the economy, taxes and commissions benefit from shellacking the data to the public.

– Glib and a dereliction of duty if referring to your buyer’s agent POV, misleading if referring to your seller’s agent POV.

– The Google Analytics of your site’s ‘Find your Home’ feature is by no means an indication that cost/sq.ft is not a vital piece of information in RE, only that the entire ‘Find Your Home’ feature is not utilized or lacks proper SEO.

April 4th, 2013 at 4:50 pm

@harper,

dereliction of duty – getting a bit righteous methinks. Did I commit to saying I was a statistician whose sole purpose in life was to provide you with that information.

When you show me a cheque for those services I’ll book the time and provide them. No doubt an unacceptable business model except that it’s probably in line with yours.

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