Issac Newton Visits Vancouver’s Detached Homes

What Goes Up Must Come Down

It was only last month that Vancouver’s detached home prices have secured the all time high average price of $1,361,023. Newton might snicker with a smile saying “that was then”!

Average Price 1977 – 2014

2014 04 01 Average Price
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Highlights

  • Vancouver’s Detached home average price has dropped to $1,209,542.
  • Attached prices Up
  • Apartment pries Up
  • Active Listing Inventory in all segments down
  • Sales Volume: Detached Up, Attached Down, Apartments Up

Vancouver Real Estate Average Numbers

Detached Attached Apartment
March 14 – $1,209,542 March 14 – $597,195 March 14 – $469,489
March 13 – $1,176,642 March 13 – $550,266 March 13 – $456,358
March 12 – $1,155,521 March 12 – $593,139 March 12 – $444,993

Vancouver Real Estate Inventory – Active Listings

Detached Attached Apartment
March 14 – 6,268
– 08%
March 14 – 2,046
– 14%
March 14 – 6,158
– 0%
March 13 – 6,878 March 13 – 2,403 March 13 – 6,179

Vancouver Real Estate – Units Sold

Detached Attached Apartment
March 14 – 1,117
+ 18%
March 14 – 419
– 03%
March 14 – 1,106
+ 12%
March 13 – 941 March 13 – 432 March 13 – 982

*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:

Throwback Says:
April 1st, 2014 at 9:25 am

Ouch 11% hit to SFH, perhaps condos are set to spike, and houses are on the way down and out

Eric Says:
April 1st, 2014 at 9:57 pm

Let the decade of the Boomer downsize begin!

Balanced markets Says:
April 2nd, 2014 at 10:27 am

Newsflash people, the banks are going to continue debasing the dollar. The time period between property being expensive relative to wages, and wages catching up, is the period where people experience the wealth effect. This is intentional and planned by our central planners, and helps lubricate the economy.

If anything, expect the governments to walk a tenuous line between under-reporting inflation and money printing, as they attempt to debase away the debt.

All the boomers in the world could downsize, but we will still see price stability as the 100,000s of people living in condos and townhouses pay off their places at current prices while still in their 30s and look to move up to a house.

So ya, one can fully expect the average condo to be 800,000+ in 10-15 years from now (this is only about 5-6% per annum growth over that period)

An Observer Says:
April 3rd, 2014 at 3:33 pm

lol

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