Sparks Fly in Vancouver Real Estate

All Sparked Up

If you can get past “sparked” up news reports loaded with cherry picked sale anomalies described as “bidding wars” are spin delivered in counterpoint to a real estate market where overall reality differs.

Average Price 1977 – 2014

2015-02-01-Average-Price-Web
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January Highlights

  • Detached price – Down
  • Attached price – Down
  • Apartment price – Up

Vancouver Real Estate Average Numbers

Detached Attached Apartment
January 15 – $1,303,256 January 15 – $566,893 January 15 – $468,872
January 14 – $1,287,213 January 14 – $548,028 January 14 – $446,472
January 13 – $1,152,851 January 13 – $570,910 January 13 – $441,667

Vancouver Real Estate Inventory – Active Listings

Detached Attached Apartment
January 15 – 4,267
– 21%
January 15 – 1,515
– 16%
January 15 – 5,029
– 5%
January 14 – 5,444 January 14 – 1,809 January 14 – 5,349

Vancouver Real Estate – Units Sold

Detached Attached Apartment
January 15 – 784
+ 7%
January 15 – 323
+ 15%
January 15 – 809
+ 7%
January 14 – 729 January 14 – 279 January 14 – 753

Sparks

As you work through these numbers you may notice a less newsy anomaly. Within the region covered by the Vancouver real estate board this January’s Active Listing inventory is replete with negative double digit negative numbers. The broad swath view of Active Listings in the lower mainland (Pemberton to Hope), isn’t much different.

At the end of January we find that in 2012 the total inventory was 19,412. In January 2013 that total was 20,053. In 2014 it was 19,034. At the end of January 2015 that number is 17,204.

As markets go this distinct lack of inventory might be “spark” worthy.

*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.

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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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