The PNE closed its exotic fun rides some time ago. Based on the sales in this month end snapshot of Vancouver’s East Side real estate market buyers also given up their hopes of taking a ride.

This community snapshot comparison is for the periods of September 28 to October 27, 2011 and October 27 to November 27, 2011.

Total Listings

The number of Total Listings dropped from Sept/Oct/s 676 to Oct/Nov’s 632.

Vancouver East Homes Sold

A hectic ride, bumpers cars often deliver the driver a shocking thump. So it would seem that the number of sales have also received a thump as they dropped from Sept/Oct’s 123 to Oct/Nov’s 65.

Expired, Days on Market

• Expired listing mandates increased from Sept/Oct’s 40 to Oct/Nov’s 54 suggesting that some sellers would rather stow their homes for the season rather than endure the season’s hectic ride.
• Days on Market decreased by one from Sept/Oct’s 35 to Oct/Nov’s 34.

Vancouver East Side Homes Average and Median Prices

• Sept/Oct’s Average Ask price was $918,729. Average Ask prices settled in for the long storage season with a little drop to Oct/Nov’s $875,705.
• Sept/Oct’s Median Ask price of $869,000 was nudged downward to $819,000 in Oct/Nov.
• Average Sold prices also took a little bump as Oct/Nov recorded $874,127 down from Sept/Oct’s $902,035.

• Median Sold prices rode the same bumper car recording a gentle thump from Sept/Oct’s $869,000 to Oct/Nov’s $808,000.

Unplugged Season

It is the number of sales that seem unplugged. Prices so far have not taken a big thump in value. Should the continuance of low sales continue in the months ahead it is fairly certain that some sellers will be stepping back to pass beyond the turnstiles and take a ride on the baby elephants.

Except for the decreased number of sales the Vancouver East market could be considered a truck load of pumpkins waiting for Halloween.

As with the previous community check ups the period for this snapshot extends from August 24,2011 to October 24, 2011.

Total Listings

Getting ready to carve a great lantern the east side seems on the right track as Total Listings are on the decline from Aug/Sept’s 811 to Sept/Oct’s 714.

Vancouver East Homes Sold

One pumpkin that has fallen off the truck is sales. Aug/Sept a slow period by REBGV reports, seems even slower in this snapshot as sales dropped to Sept/Oct’s total of 71.

Expired, Days on Market

• Expired listing mandates well stowed on the truck as they reduced from Aug/Sept’s 53 to Sept/Oct’s 40.
• Days on Market at the bottom of the load are feeling squashed as they climbed from Aug/Sept’s 29 to Sept/Oct’s 34.

Vancouver East Side Homes Average and Median Prices

• Not as high in the load was Aug/Sept’s Average Ask price of $901,592. Feeling what little sun there is in Sept/Oct the Average Ask price increased to $912,950.
• The Median Ask price felt the squeeze as well with Aug/Sept reporting $850,000. Finding it’s way through the crowd of orange the Median Ask price increased a little in Sept/Oct to $869,500.
• The Average Sold price in the Aug/Sept was $895,681. It too fell some sun as it increased to 900.684 in Sept/Oct.

• The Median Sold price in Aug/Sept recorded $862,000. Peeking out through the load it increased to $869,000 in Sept/Oct.

Left Overs

Though the pumpkins on the east side real estate truck are polished and ready for sale it seems that based on the number of sales to date, Halloween revelers are going to leave this truck with a lot of left overs.

Maybe November will be a great month in which to make pumpkin pie for all of the east side.

Image Credit – Large Pie

Image Credit – Pumpkin Truck

Vancouver’s East side real estate market appears to have it’s finger on the button.

As with the previous community check ups the period for this snapshot extends from July 24,2011 to September 23, 2011.

Total Listings

Worthy of being pinned to your lapel is the button claiming Total Listings only decreased by twelve units from Jul/Aug’s 758 to Aug/Sept’s 746.

Vancouver East Homes Sold

A bigger east side community button should proclaim that this market is holding as Jul/Aug sales rang in at 138 and Aug/Sept’s showing a small decrease to 104 – a bright cross on the horizon compared to other communities.

Expired, Days on Market

• Jul/Aug’s expired listing mandates counted 30. This jumped up to 52 in Aug/Sept.
• Aug/Sept’s Days on market added one day with 26 compared to Jul/Aug’s 25.

Vancouver East Side Homes Average and Median Prices

• Jul/Aug’s Average Ask price was $864,201. The Average Ask price pinned an increase in Aug/Sept at $904,820.

• The Median Ask price in Jul/Aug was $828,000. The Median Ask price increased in Aug/Sept to $853,500.
• The Average Sold price in the Jul/Aug was $857,112. In Aug/Sept sold prices fastened on to an increase to $906,851.
• The Median Sold price in Jul/Aug was $821,500. In Aug/Sept the median sold price mounted an increase to $882,500.

Crossed Buttons

Some might attribute the positive nature of this checkup to a mysterious power of the East Vancouver cross. Others Vancouver home buyer’s might tap their finger on their Vancouver East Button as confirmation that the east side is a more inclusive, affordable community?

East Van Cross Credit
Button Credit

The Orea® cookie is commonly referred to as a sandwich cookie. It is made up of ‘creme’ sandwiched between two chocolate cookie biscuits. Made by Nabisco its famous slogan is ‘Milk’s Favorite Cookie.®’

Imagine if you will Vancouver east side detached homes as an Oreo® cookie. Imagine further Vancouver home buyers eager to drink the milk of home ownership. With that image in mind you might then envision this East side Community Snapshot as a graphical image of Vancouver’s favorite cookie.

During the periods of June 17, 2011 to July 16, 2011 and July 17, 2011 to August 16, 2011 Vancouver’s east side detached tabulated these figures.

Total Listings

Listings decreased from Jun/Jul’s 713 to Jul/Aug’s 723. Notably, this appears contrary to the overall increase in total listings for the lower mainland market place.

Vancouver East Homes Sold

Sales dropped but, not by much from Jun/Jul’s 135 in Jul/Aug’s 107.

Expired, Days on Market

• Jun/Jul had 31 listing mandates expire. Expired mandates increased to 34 in Jul/Aug.
• It took 31 days to sell a home in Jun/Jul yet in Jul/Aug buyers seemed to have their finger on the trigger as it only took 19 days to sell an east side home.

Vancouver East Side Homes Average and Median Prices

• June/July’s Average Ask price was $885,086. The Average Ask price slowed in July/August to $847,150.
• The Median Ask price in June/July was $849,000. The Median Ask price decreased to $799,000 in July/August.
• The Average Sold price in the June/July was $888,544. In July/August sold decreased to $854,536.
• The Median Sold price in June/July was $849,000. In July/August the median sold decreased to $820,000.

Thoughts

Most of us enjoy being lead astray when offered milk and cookies. These numbers might imply that Vancouver home buyers may have been seduced by the sweet ‘creme’ of lower prices. As well, the low number of days east side homes were on the market further suggests that buyers were quick to bite, anxiously making east side homes their favourite cookie.

Oreo and ‘Milk’s Favorite Cookie’ are trademarks of Nabisco

Vancouver’s East side real estate market is kind of that “in the middle” market place. Though it can run hot and cold, the heat or ice is often a result of what the other communities which at times, seem to exhibit more market drama.

As an adjunct to yesterday’s Vancouver West side commmunity snapshot. Looking at prices alone, the east side by comparison appears to be relatively steady.

During the periods of April 28, 2011 to May 27, 2011 and May 28, 2011 to June 27, 2011 Vancouver single detached home sales determined the following results.

Total Listings

Listings decreased from Apr/May’s 713 to May/Jun’s 619.

Vancouver East Homes Sold

Sales dropped from Apr/May’s 193 in May/Jun’s 107.

Expired, Days on Market

• Apr/May had 34 listing mandates expire. Expired mandates decreased to 26 in May/Jun.
• It took 28 days to sell a home in Apr/May and 20 in May/Jun.

Vancouver East Side Homes Average and Median Prices

• Apr/May’s Average Ask price was $870,695. The Average Ask price decreased in May/Jun to $850,915.
• The Median Ask price in Apr/May was $829,900. The Median Ask price slowed to $828,000 in May/Jun.
• The Average Sold price in the Apr/May was $872,317. In May/Jun sold prices jumped up to $879,520.
• The Median Sold price in Apr/May was $838,000. In May/Jun the median sold increased to $843,800.

Thoughts

As postulated the east side prices appear to emulate the price escalations and the slowing sales seen on the west side. The matched step of both communities is not overtly surprising as each offer proximity to the city, an abundance of quality amenities and long established neighbourhoods.

As in the picture, sometimes you can even find a neighbour you can get close to.

Sixth in the series of seven community snapshots is a look at the Vancouver East Detached home market.

During the periods of October 26, 2010 to November 26, 2010 and November 26, 2010 to December 26, 2010 single family home sales in the Vancouver East community had the following results.

Total Listings

Listings decreased from Oct/Nov’s 526 to Nov/Dec’s 466.

Vancouver East Homes Sold

Sales dropped by more than 50% from Oct/Nov’s 118 in Nov/Dec’s 52.

Expired, Reductions, Increases, Days on Market

• Oct/Nov had 43 listing mandates expire. Expired mandates increase to 49 in Nov/Dec.
• Price reductions in Oct/Nov totalled 133 and slowed to 116 in Nov/Dec.
• There were 15 price increases in Oct/Nov and 16 in Nov/Dec.
• It took 49 days to sell a home in both periods.

Vancouver East Side Homes Average and Median Prices

Christmas Day Swim – 1925

• Oct/Nov’s Average Ask price was 798,492. The Average Ask price slowed in Nov/Dec to $764,819.
• The Median Ask price in Oct/Nov was $784,000. The median also dropped to $737,450 in Nov/Dec.
• The Average Sold price in the Oct/Nov was $786,164. In Nov/Dec sold prices dropped $749,505.
• The Median Sold price in Oct/Nov was $759,000. In Nov/Dec the median sold price dropped to $727,500.

Thoughts

Reflecting the traditional slow period of the holiday season there are few surprises seen in this snapshot. Almost all major indicators like these Vancouver swimmers in 1925, took a ‘dive’ as buyers and sellers focused their attention to seasonal priorities.

One day left in the series of seven.

We have reviewed the markets in Coquitlam, Burnaby, North Vancouver, West Vancouver, Richmond and today we look at Vancouver’s East Side.

During the two periods September 24, to October 23, 2010 and October 24 to November 23, 2010, detached properties in the Vancouver East communities had the following results.

Listings

Total Listings decreased from Sept/Oct’s 651 to Oct/Nov’s 583.

Sales

Sales continued their slide from Sept/Oct’s 129 to 75 in Oct/Nov.

Expired, Reductions, Increases, Days on Market

• Sept/Oct had 57 listing mandates expire slowing to 43 in Oct/Nov.
• Price reductions in Sept/Oct were 182 dropping to 150 in Oct/Nov.
• There were 15 price increases in both periods.
• It took 39 days to sell a home in Sept/Oct. That lengthened to 40 days in Oct/Nov.

Average and Median Prices

• Sept/Oct Average Ask price was $775,031. The Average Ask price increased in Oct/Nov to $788,592.
• The Median Ask price in Sept/Oct was $768,800. This dropped to $749,900 in Oct/Nov.
• The Average Sold price in the Sept/Oct was $746,034. In Oct/Nov this increased to $775,439.
• The Median Sold price in Sept/Oct was $735,000. In Oct/Nov the median dropped to $730,000.

Vancouver Fire Department – 1917

Thoughts

The east side is always a melting pot of interesting numbers. Total listings are down, sales are down, expired listings are down, price reductions are down, yet the much maligned Average price is up, while the Median prices are down.

Assuming that the average price is an anomaly. One might presume that the east side detached market will, based on these numbers and the upcoming slow holiday period, be following that little chubby guy in the red suit down the chimney. Hopefully, the boys lined up above will be available to save the day.

It’s Halloween and I’ve been busy getting ready for the little goblins that always come to my house at this time of year. In this the second to last community series report are the results for Vancouver’s East side detached homes.

This report covers the following two periods extending from August 25/10 to September 25/10 and September 25/10 to October 25/10.

Listings

Total Listings decreased from Aug/Sept’s 743 to Sept/Oct’s 700.

Sales

Sales decreased from Aug/Sept’s 109 to 82 in Sept/Oct.

Expired, Reductions, Increases, Days on Market

• Aug/Sept had 73 listing mandates expire which decreased to 57 in Sept/Oct.
• Price reductions also decreased slightly from Aug/Sept’s 199 to Sept/Oct’s 194.
• There were 39 price increases in Aug/Sept slowing to 33 in Sept/Oct.
• It took slightly longer to sell at home in Aug/Sept at 39 days. This shorted a bit to 33 days in Sept/Oct.

Average and Median Prices

• Aug/Sept’s Average Ask price was $782,902. This average price decreased in Sept/Oct to $761,539.
• The Median Ask price in Aug/Sept $769,000. It increased to $786,500 in Sept/Oct.
• The Average Sold price in the Aug/Sept was $769,742. In Sept/Oct it increased to $836,726.
• The Median Sold price in Aug/Sept was $757,000. In Sept/Oct the median dropped to $730,000.

One day left in the series of seven.

We have reviewed the markets in Coquitlam, Burnaby, North Vancouver, West Vancouver, Richmond and today we look at Vancouver’s East Side.

During the two periods extending from July 26, 2010 to August 25, 2010 and August 26, 2010 to September 25, 2010, detached properties in the Vancouver East communities had the following results.

Listings

Total Listings decreased from Jul/Aug’s 830 to Aug/Sept’s 743.

Sales

Sales decreased from Jul/Aug’s 112 to 81 in Aug/Sept.

Expired, Reductions, Increases, Days on Market

Cordova Street looking east from Cambie Street 1890′s CVA 2-14

• Jul/Aug’s had 81 listing mandates expire which increased to 84 in Aug/Sept.
• Price reductions in Jul/Aug’s were 247 slowing to 230 in Aug/Sept.
• There were 29 price increases in both periods.
• It took 45 days to sell a home in Jul/Aug. That shortened to 30 days in Aug/Sept.

Average and Median Prices

• Jul/Aug Average Ask price was $773,678. This average decreased in Aug/Sept to $770,940.
• The Median Ask price in Jul/Aug was $739,888. It increased to $749,900 in Aug/Sept.
• The Average Sold price in the Jul/Aug was $750,403. In Aug/Sept this increased to $756,488.
• The Median Sold price in Jul/Aug was $726,000. In Aug/Sept the median increased to $750,000.

There are 2 days remaining in this the month of August 2010.

In this 7 day series we will visit seven communities that comprise the Vancouver Real Estate market. We will visit the markets of Coquitlam, Burnaby, Vancouver East, Vancouver West, North Vancouver, West Vancouver and Richmond.

Counting down – on day 7 we looked at Coquitlam, on day 6 we visited Burnaby, on day 5 we visited Richmond, on day 4 it was North Vancouver, day 3 we looked at West Vancouver. Today, the 6th of the 7 day series we visit Vancouver’s East side detached market.

During the two periods June 25, 2010 to July 24, 2010 and July 25, 2010 to August 24, 2010, detached properties in the Vancouver East neighbourhoods had the following results.

Listings

Total Listings decreased from June/July’s 858 to July/Aug’s 830.

Sales

Sales decreased from June/July’s 112 to 81 in July/Aug.

Expired, Reductions, Increases, Days on Market

300 Blk Cordova 1943 shows a small child standing by a row of houses
in the slum district of Vancouver. CVA 1184-638

• June/July had 81 listing mandates expire which increased to 84 in July/Aug.
• Price reductions in June/July were 247 slowing to 230 in July/Aug.
• There were 29 price increases in both periods.
• Telling is the increase in time it takes to sell a home. It took an average of 28 days to sell a home in June/July. That increased to 41 days in July/Aug.

Average and Median Prices

• June/July’s Average Ask price was $801,330. This average decreased in July/Aug to $773,150.
• The Median Ask price in June/July was $793,500. It decreased to $738,000 in July/Aug.
• The Average Sold price in the June/July was $787,014. In July/Aug this dropped to $752,731.
• The Median Sold price in June/July was $781,250. In July/Aug the median dropped to $715,000.

Take Away

According to the snapshots most evident elements of change are the huge decrease in sales and the ever growing number of days it takes to sell a home. Prices appear to be on a slow and steady downward path.

Tomorrow is the final day in the 7 day series. We will visit Vancouver West. Beyond that it will be anyone’s guess as we wait for REBGV’S MLS® monthly totals.