Vancouver’s Record High Prices Record Low Inventory

How Low Can You Go?

Total Active Listings haven’t been this low in the past 5 years. Sellers are firmly in control of the market place with average prices are already at a record busting levels.

Total Active Listings

Cron-IDX-Graphs-2016-01-05-web

Why So Low?

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What’s the cause of this low inventory? Few know for certain but many speculate. Perhaps it could be:

You Ain’t Seen Nothin Yet

To pinpoint the real reason to explain the ultra low inventory is difficult. Real estate in Vancouver in 2016 will be full of surprises and from a historical perspective perhaps back in 1974 these bah-bah-bah-boys sang a chorus that said it be-be-best!

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:

vancouver Says:
January 12th, 2016 at 1:55 pm

Are sales in high end detached slowing? West Side and West Van? I’m seeing some price reductions, and I’m also seeing some detached in West Van that have been listed for over 6 months.

Thanks

Harper Says:
February 1st, 2016 at 8:13 pm

Assuming January 2016 Vancouver home prices will be reported as ‘off the rails again’ – at 59% off to US dollar…. coming soon. Great investment everyone! In other words, prices have dropped by 41% thus far against the real-world values… not counting ANY Vancouver real estate bubble correction….’yet’. Should have bought in San Francisco, San Jose, Beverly Hills, Malibu, Laguna Beach or Newport Beach, CA. YIKES!

Purr purr jones Says:
February 6th, 2016 at 6:37 pm
February 8th, 2016 at 1:14 am

@Purr purr
Nothing new. Easy money always brings out the worst in humanity on both sides. We always live in hope that the people we enlist to assist us in navigating uncharted waters will actually represent our best interests. Sadly and as noted in GM’s piece that does not appear to be the case.
The solution is simple – strike out the assignment clause and demand the full name address and phone number of the buyer. You will get push back. Demand a 25% deposit that is non refundable and payable directly to you via bank draft. Any time you see the buyer’s location as C/O the agent or broker assume red flags.
Get a second opinion, talk to a lawyer to review the contract if you don’t understand it. Don’t sign until you are certain of all possibilities which may include a personal visit to city hall to ascertain the future potential of the property.

A knock on your door, a promise of fast cash and a bullshit story about how they don’t speak English but love your house and your rose garden or they want their kids to go to the local high school is right up there with Nigerian letters of promised riches. These boys aren’t the fools, the sellers are if they buy into this nonsense.
The best way to assure you are getting the most money at any time is list the property on MLS. Wait 10 to 20 days. The market will tell you what your house is worth not the agent. With that if you still think the offers you are getting do not reflect your sense of value then take it off the market or to be really sure hire an appraiser.

Putting my non realtor smart ass hat on you could have some fun and watch them melt at your door with this approach.
When they tell you they have a buyer who will pay you $2 million your home, roses and school counter with this:
$1 million bank draft, non refundable and payable to you (not in trust) today, and a further $6 million in 90 days. All net of commission. If they go for it (nobody has yet but one day they may call my bluff in which case I’ll move to a double wide mobile home in Enderby) go shopping for a new place to live and be sure to include a clause that says your purchase is conditional upon your sale agreement completing.
Have fun 🙂

Purr purr jones Says:
February 9th, 2016 at 8:28 pm

Thanks for your comments Larry!

Fred Says:
March 31st, 2016 at 1:00 pm

Hi Larry,

When can we expect your comments for the march 2016 period.We always enjoyed reading your posts.

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