Vancouver Real Estate Brass Band

Brass Band

This month the Real Estate’s brass band will be out in full force playing louder than ever as year over year sales and prices hit high notes.

Average Price 1977 – 2013

2013 10 01 Average Price

Detached

Vancouver’s Detached homes average prices approached the February high notes seen in 2012 ($1,235,244) and 2013 ($1,221,037), registering a September average of $1,211,190. Up from this year’s low of $1,116,102 in June and a per unit average price increase of 8% over last year.

Marching Band Flickr - Zoetnet

Detached home sales were up tempo compared to last year showing a 71% increase from Sept. 2012’s 599 units to Sept. 2013’s 1,099 units.

Attached

The band played on as Vancouver’s attached average price marched past August’s $575,424 hitting a 2013 high of $608,825. Attached sales kept time with detached showing a 79% increase from last year’s 246 unit’s to this year’s 442.

Apartment

Apartment prices missed a few notes to record September’s average of $428,898, down from August’s $449,695. Those sour price notes were offset by a 50% increase in units sold compared to last year.

Vancouver Real Estate Average Prices:

Detached Attached Apartment
September 13 – $1,211,190 September 13 – $608,825 September 13 – $428,898
September 12 – $1,119,166 September 12 – $531,311 September 12 – $445,429
September 11 – $1,104,896 September 11 – $573,259 September 11 – $455,342

Vancouver Real Estate Inventory – Active Listings

Detached Attached Apartment
September 13 – 7,354
– 10%
September 13 – 2,480
– 11%
September 13 – 6,281
– 14%
September 12 – 8,231 September 12 – 2,789 September 12 – 7,330

Vancouver Real Estate – Units Sold

Detached Attached Apartment
September 13 – 1,029
+ 71%
September 13 – 442
+ 79%
September 13 – 1,019
+ 50%
September 12 – 599 September 12 – 246 September 12 – 676

Realtor’s® Measure

Measure Tape Ben Falcifer Flickr

Average prices can like a marching brass band, be loud and gregarious. The sound of an average price brass band is to some, a rapidly changing untenable noise that is skewed by extreme sales.

Some Realtors® and pundits begin a Gregorian Chant as they espouse average price results. Yet for others, those with a longer view, average prices may be considered market place Homophony – a part of the market that moves together rather than independently.

Marching

September’s market data marched in two step time to deliver increased prices and sales. As a second movement, September also delivered a reduction in inventory. Keeping tempo, there should be little doubt that real estate’s ‘officialdom’ will declare September a balanced harmonious market.

*Percent = YOY

Photo Credit: Flickr zoetnet

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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