Few Alternatives in Vancouver’s Home Market

Black Friday

Vancouver’s Average November prices have taken a step back but don’t expect Black Friday bargains.

Average Price 1977 – 2015

2015-12-02-Average-PriceYattermatters – Average Price November 2015

Vancouver Real Estate Average Numbers

Detached Attached Apartment
November 15 – $1,579,170
+ 23%
November 15 – $630,018
+ 11%
November 15 – $500,084
9%
November 14 – $1,274,904 November 14 – $562,579 November 14 – $456,747

Vancouver Real Estate Inventory – Active Listings

Detached Attached Apartment
November 15 – 3,356
– 32%
November 15 – 995
– 44%
November 15 – 3,745
– 35%
November 14 – 5,713 November 14 – 1,785/strong> November 14 – 5,770

Vancouver Real Estate – Units Sold

Detached Attached Apartment
November 15 – 1,344
+ 31%
November 15 – 636
+ 40%
November 15 – 1,553
+ 47%
November 14 – 1,021 November 14 – 452 November 14 – 1,052

Combinations

High prices and low inventory – a fabulous combination for sellers if you have somewhere to go.

Vancouver is experiencing an incredible lack of inventory with home buyers thirsting for the chance to make an offer to purchase. Today’s successful home buying combination falls to those who know their market, understand that they will have to pay more than the asking price and are capable of making on the spot financial decisions. Not necessarily the smartest way to buy a home and one thing is certain. This market is not for the timid.

Freeway-Headlights

Life Alternatives

If staying in the city is your life choice there are few alternatives. Negative inventory combined with the high number of sales is driving prices. Those who believe this market will continue are left without alternative and pay the price to be in the winner in the home buying circle. It’s that or a move away from the city.

While moving out of the city might seem an alternative that alternative demands your market research must include an early afternoon drive up valley to Bridal Falls a small place just east of Chilliwack.

After a short rest, at four in the afternoon begin your return trip to the city. Without doubt you will be overwhelmed by the endless ribbon of shining headlights from commuter cars heading east to their homes. If paying the price in the city makes you timid consider the alternative of a daily bumper to bumper journey home.

High city prices or a long crowded commute – neither alternative is a Black Friday bargain.

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.

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