Vancouver’s Real Estate Market Has Yet to Bloom

Wet Magic

Vancouver’s average home prices are damp as sales wither. Sprouting daffodils say spring has sprung but this spring hasn’t cast its perennial magic upon the Vancouver real estate market.

Average Price 1977 – 2017

march average price graphYattermatters – Average Price Mar 2017

Vancouver Real Estate Average Numbers

Detached Attached Apartment
Mar 17 – $1,714,090
-3%
Mar 17 – $830,722
+7%
Mar 17 – $589,599
+4%
Mar 16 – $1,783,681 Mar 16 – $769,754 Mar 16 – $563,518

Vancouver Real Estate Inventory – Active Listings

Detached Attached Apartment
Mar 17 – 4,404
+18%
Mar 17 – 1,018
+35%
Mar 17 – 2,164
-25%
Mar 16 – 3,711 Mar 16 – 751 Mar 16 – 2,896

Vancouver Real Estate – Units Sold

Detached Attached Apartment
Mar 17 – 1,156
-46%
Mar 17 – 588
-25%
Mar 17 – 1,841
-18%
Mar 16 – 2,148 Mar 16 – 786 Mar 16 – 2,252
*Percentage = YOY

Blooming Elections

budding daffodil

“daffodils” by Audrey B. is licensed under CC BY 2.0

Rain in Vancouver is the norm. Too much is a stand out! Breaking a 61 year precipitation record seems a highlight compared to the dullness of Vancouver’s Real Estate market.

March’s market numbers are much of the same old same old. Average prices are not in serious newsworthy decline nor have they pushed the elevator’s penthouse button.

Sales are down compared to last year. Nothing new here as the market created a path that rings empty with the harangue of homes unaffordable – a ring almost dismissible yet frighteningly normal in its lack of effectiveness.

One certainty is that changed mortgage qualification rules and political xenophobic meddling makes it difficult to foresee this damp market coming to full bloom.

In the months ahead it seems reasonable to suggest that the market will languish further under the pressure of an impending provincial election. Political uncertainty may further stagnate Vancouver buyers and sellers who seek clear direction within slippery political promises from politicians looking for a job.

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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