Hat Trick Drama

Hat Trick

In the game of Real Estate Vancouver scored an average price hat trick with price increases in all residential market segments.

Average Price 1977 – 2013

2013 09 01 Average Price

Detached

Detached homes in Vancouver crossed the goal line in August with an increase from July’s $1,144,952 to $1,198,482.

Attached

Not to be outdone Vancouver’s attached average price left behind July’s $547,979 hitting the net at $574,424.

Apartment

Apartment average took a weak but successful shot wobbling in above July’s $441,690 to close the game at $449,695.

Vancouver Real Estate Average Prices:

Detached Attached Apartment
August 13 – $1,198,482 August 13 – $575,424 August 13 – $449,695
August 12 – $1,142,237 August 12 – $547,588 August 12 – $444,218
August 11 – $1,116,242 August 11 – $562,145 August 11 – $463,204

Vancouver Real Estate Inventory – Active Listings

Detached Attached Apartment
August 13 – 7,325
– 6%
August 13 – 2,480
– 5%
August 13 – 6,222
– 11%
August 12 – 7,875 August 12 – 2,622 August 12 – 7,070

Vancouver Real Estate – Units Sold

Detached Attached Apartment
August 13 – 1,057
+ 69%
August 13 – 444
+ 48%
August 13 – 1,019
+ 40%
August 12 – 624 August 12 – 300 August 12 – 725

One Realtor’s Measure

Measure Tape Ben Falcifer Flickr

Average prices in 2013 to date seem tempered. While price fluctuations occurred in all sectors, the range of change might be viewed as inconsequential.

Changes

An obvious market change is the appearance of higher volume of sales. When compared to the last half of 2012 they change is dramatic.

Yet, equally notable is the number of units being listed for sale. This drop may be little more than a hint telling us the fall market – a traditional slow period, is about to begin.

Taking a longer view beyond 2012 to 2010, the fall period is also a traditional time where sales slowed. If the pattern repeats there may be less drama in this hat trick.

*Percent = YOY

Photo Credit: Flickr Ben Falcifer

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.

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