If you have the opportunity to chat with some West Side Realtors®, in particular those who haven’t made a sale, you might find hints suggesting the heat of Vancouver’s West Side market isn’t melting their pot.

This snapshot period extends from September 28, to November 27, 2011.

Total Listings

West side Total Listings slowed a bit from Sept/Oct’s 907 down to Oct/Nov’s 884.

Vancouver West Homes Sold

Don’t bother calling the fire department as sales are anything but on fire as Sept/Oct’s 118 sold units only simmered in Oct/Nov at 82.

Expired, Days on Market

• Expired listing mandates might be the reason for smoke in your kitchen as they have increased from Sept/Oct’s 56 to Oct/Nov’s 69.
• In contrast the Days on Market are as positive sign that buyers are arriving at a home buying decision more quickly as the market exposure period dropped from Sept/Oct’s 36 days to Oct/Nov’s 33.

Vancouver West Side Homes Average and Median Prices

• Prices on the other hand seem to be just at the boil as Sept/Oct’s Average Ask price of $2,366,318 heated up to Oct/Nov’s $ 2,534,376.
• With two pots on the stove, the Median Ask price followed the average as Sept/Oct’s median of $2,198,000 heated up to Oct/Nov’s $2,248,000.
• The Average Sold price in the Sept/Oct was $2,287,717. The heat was on in Oct/Nov as Average Sold prices climbed to $2,403,021.
• The Median Sold price in Sept/Oct recorded $2,124,000. On Medium heat this too climbed slightly to $2,195,000 in Oct/Nov.

Spicy Thoughts

It’s a safe bet that most of us could use a cooking class to help improve the taste and flavor of the food we eat. Depending on which table you’ve been asked to sit at for dinner you will in this city, find dinners varied with spices from around the world.

Interpreting the essence of this snapshot you might compare it to the spice infused in your meal. Long the bastion of higher prices, the west side once again in comparison to other communities, could be considered the leader of the high price pack. Such a view might be akin to a market place where sellers are serving dinner re splendid with spicy aromas. Buyers sitting at that seller’s table may be reviewing their new higher mortgage payment and think that a spoon full of west side spice may be one spoon too many.

Image Credit 01
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As the story goes it was thousands of years ago when a “mystical green flamed meteor fell to earth in Ancient China.” “The flame’s voice prophesied that it would act three times: once to bring death, once to bring life, and once to bring power.” As the green flame past amongst various DC Comic characters it morphed into a ring which when worn by the bearer granted fantastic powers. The flame we know as the Green Lantern.

In this check up of Vancouver’s detached west side community, the idea of the Green Lantern using fantastic powers help change the theme of this west side story seems improbable.

This checkup of Vancouver’s West side community is for detached properties and covers the period from July 24, 2011 to September 23, 2011.

Total Listings

The high number of Total Listings decreased from Jul/Aug’s 929 to Aug/Sept’s 872.

Vancouver’s West Side Sold Homes

Aug/Sept recorded 69 sales or almost half of Jul/Aug’s 125. Foreboding this is for not much green was seen in August, a period noted by the REBGV as the 3rd lowest month of sales in years.

Expired, Days on Market

• Jul/Aug had 37 listings mandates expire. That slowed by 1 to 36 in Aug/Sept.
• It is taking longer to sell a west side home as Jul/Aug claimed it would take 29 days and Aug/Sept increased that number to 31.

Vancouver’s West Side Average and Median Prices for Homes Sold

• Jul/Aug’s Average Ask price had a tint of green at $2,517,794 compared to Aug/Sept’s $2,455,789.
• The Median Ask price in Jul/Aug was $1,998,000. The Median Ask got greener with an increase in Aug/Sept to $2,180,000.
• The Average Sold price in the Jul/Aug was $2,443,586. Aug/Sept lost some more green as it decreased to $2,397,869.

• The Median Sold price in Jul/Aug was $2,100,000. The Median Solds added a little green climbing to $2,120,000 in Aug/Sept.

Truth or Fiction?

Death, life, power – three things prophesied!

Could the prophesy be true for Vancouver’s west side? On faith, should one believe that the Green Lantern is guarding over the Vancouver West side real estate market? Certainly the power of west side sales compared to years past has weakened. The slowing of this market’s life activity is at a low. The shade of green evidenced in the Average and Median prices is also not be as bright but, there is nothing in this checkup suggesting that death will come calling.

Cast your Vancouver housing market faith to the power of the Green Lantern if you will with clear understanding that only one ‘subject clause’ prevails – there is little truth in fiction.

Liberal Quotes
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It wasn’t too long ago that you could introduce yourself at a party with a follow up that started with “so… how about those Vancouver west side house prices?”

It seems that now a more ‘in tune’ introduction might be “so… what do you think? Will Vancouver west side houses continue to see prices reduce?”

This Community Snapshot of Vancouver’s West side detached properties covers two 30 day periods between June 13, 2011 to July 12 and July 13 to August 12,2011.

Total Listings

Total Listings decreased from June/July’s 846 to July/August’s 763.

Vancouver’s West Side Sold Homes

The July/August snapshot, recorded 88 sales – down from June/July’s 188.

Expired, Days on Market

• June/July had 40 listings mandates expire. This number dropped as July/August recording 33 expired mandates.
• It took an average of 27 days to sell a west side home in June/July. This reduced to 20 days in July/August.

Vancouver’s West Side Average and Median Prices for Homes Sold

• June/July’s Average Ask price was $2,624,612. The Average Ask price dropped in July/August to $2,343,206.
• The Median Ask price in June/July was $2,193,000. The Median Ask dropped in July/August to $1,998,000.
• The Average Sold price in the June/July was $2,561,221. In July/August that dropped to $2,313,097.
• The Median Sold price in June/July was $2,193,000. The Median Sold dropped to $1,994,000 in July/August.

Thoughts

In this community snapshot the number of sales alone – almost half of the previous month, would suggest that the Vancouver west market is staggering. A case can also be made that suggests prices are falling – at least for now.

There was talk back in May and June that we could expect a scenario like this to develop. Vancouver Realtors® call it the ‘summer doldrums’ – a slow period of real estate activity typically usurped by hazy summer days of fun and sun. Though some whispered about the potential for another global financial crisis humans by their nature, have a glass half full mentality. No one expected the U.S. to blink. Fewer still, anticipated that they would be thrown into another round of that chaos so quickly.

Real estate does not react as quickly at the financial market place and the numbers here suggest that something different is going on as it began prior to this last go round in the financial markets. However, it seems reasonable to expect that in the weeks ahead as the losses are calculated, one could expect to see the fall off on the west side continue and begin to ripple through to other communities.

As seen in a prior post the Active Listing count is on the rise. Should that continue and the calculated losses prove greater than now known, the fall season of Vancouver’s West Side party invitations will have a new twist asking you to come to a pot luck. Don’t be surprised if the invitation includes the obligatory BYOB.

If this proves true, expect to hear post introduction conversations that begin with these words: “wow – can you believe the decline in Vancouver’s real estate!”

On almost any day a conversation about the Vancouver’s west side real estate market will leave you dazed and confused. Some claim the market is up. Some say down. Some say it is being overtaken by the offshore Chinese millionaires.

This Vancouver West community snapshot might be saying all of those things.

This snapshot of Vancouver’s West side detached properties covers two 30 day periods between April 28, 2011 and June 27, 2011.

Total Listings

Total Listings decreased from Apr/May’s 1013 to May/June’s 764.

Vancouver’s West Side Sold Homes

The May/June snapshot, records 138 sales – down from Apr/May’s 359.

Expired, Days on Market

• Apr/May had 55 listings mandates expire. This number dropped with May/June recording 27 expired mandates.
• It took an average of 26 days on the market to sell a west side home in both periods

Vancouver’s West Side Average and Median Prices for Homes Sold

• Apr/May’s Average Ask price was $2,454,246. The Average Ask price dropped in May/June to $2,411,217.
• The Median Ask price in Apr/May was $2,088,000. The Median ask increased in May/June to $2,174,000.
• The Average Sold price in the Apr/May was $2,430,307. In May/June that dropped to $2,405,497.
• The Median Sold price in Apr/May was $2,088,000. The Median Sold had a small up-tick to $2,194,000 in May/June.

Thoughts

In this community snapshot the number of sales alone could suggest that the Vancouver west market is staggering. A case could also be made that falling prices indicate a market on the edge. Yet, some Vancouver Realtor® conversations would tell you that this is just a precursor to the slow summer Vancouver market period. If you multitask and look at the graph while listening to the conversations, you too might be staggering on the edge of becoming dazed and confused.

It has been a while since we have taken a look at a Vancouver West community snapshot.

It seems long ago since I started the snapshot adventure and since then the Vancouver real estate market has changed. One might have expected the recent explosive influence of offshore monies to have sent the west side into some level of chaos. Comparatively, as I look back the numbers have changed but the pattern seen on the graph seems to have remained almost consistent.

This snapshot reflects the periods of March 25,2011 to April 25,2011 and April 25, 2011 to May 25,2011.

Total Listings

In the Vancouver West community the snapshot shows listings having decreased from Mar/Apr’s 600 to Apr/May’s 428.

Vancouver’s West Side Sold Homes

In concert the number of sales has also dropped from Mar/Apr’s 163 homes to Apr/May’s 120.

Expired, Days on Market

• Mar/Apr had 9 listings mandates expire. This number increased to 14 in Apr/May.
• At 40 days it took a little longer to sell a Vancouver west side home in Mar/Apr compared to Apr/May’s 31.

Vancouver’s West Side Average and Median Prices for West Side Homes

• Mar/Apr’s Average Ask price was $2,257,337. The Average Ask price increased slightly to $2,367,153 in Apr/May.

• The Median Ask price in Mar/Apr was $1,948,000. The Median ask decreased a bit in Apr/May to $1,894,000.
• The Average Sold price in the Mar/Apr was $2,165,512. In Apr/May there was a slight upward tick to $2,287,060.
• The Median Sold price in Mar/Apr was $1,890,000. The Median Sold also had a small up-tick to $1,926,500 in Apr/May.

Thoughts on the Table

Average and median numbers from a small sample leave a lot on the table of desired accuracy. The tally is not much to work with and can send you into a tail spin trying to figure it out. Unfortunately, it is all we have and as that is the case this snapshot would suggest that the April/May period has proven to be a less robust market than Mar/Apr. Were you to talk to a number of West Side Realtors® they might make similar claims. Then again, this Vancouver’s West Side snapshot while an indicator, does not a market make.

Photo Credit

Vancouver West community snapshot is the 7th and last in the December series. It is also be the last post in 2010 and will be the 885th post to this blog.

It wasn’t so long ago that I started this adventure and since then the Vancouver real estate market has changed as much as this blog. Always a learning process, it has been both a challenge and a pleasure to provide to you information about our local market, the external influences on it and in many cases, the resulting changes caused by those influences.

To the readers who follow this blog, who engage in discussion through comment and to those who pass by, I thank you for your patience and interest. I wish you well in your home buying and selling decisions. Owning a home means a lot of things to a lot of people. From my perspective as a Realtor®, however you view your decision to own, it always comes down to Dorothy’s line in the Wizard of Oz when she said – “There’s no place like home.” My wish to you all, is that your home in 2011 be one that is prosperous and healthy.

Happy New Year!

This snapshot reflects the periods of October 26,2010 to November 26,2010 and November 26,2010 to December 26,2010.

Total Listings

Listings decreased from Oct/Nov’s 566 to Nov/Dec’s 465.

Vancouver’s West Side Sold Homes

Unlike retail sales that count on the Holiday Season as their best time of the year, in Vancouver, it can be expected to that during this traditional period home sales will plummet. In Oct/Nov there were 163 homes sold on the West Side. In the Nov/Dec period this dropped to 82.

Expired, Reductions, Increases, Days on Market

• Oct/Nov had 57 listings mandates expire. There was quite a change in Nov/Dec as this slowed to 37.
• Price reductions in Oct/Nov tallied 112. This slowed to 90 in Nov/Dec.
• Price increases remained equal at 18 in both periods.
• At 50 days on the market, it took less time to sell a west side home in Nov/Dec. On average, in Oct/Nov it took 57 to sell a home on the west side.

Vancouver’s West Side Average and Median Prices for Homes Sold

• Oct/Nov’s Average Ask price was $2,183,112. The Average Ask price dropped a tick in Nov/Dec to $2,141,153.
• The Median Ask price in Oct/Nov was $1,799,000. The Median ask increased in Nov/Dec to $1,884,000.
• The Average Sold price in the Oct/Nov was $2,074,931. In Nov/Dec there was a slight upward tick to $2,082,408.
• The Median Sold price in Oct/Nov was $1,818,000. The Median Sold also had a small up-tick to $1,881,500 in Nov/Dec.

Thoughts

Expected and confirmed by history and all of the community series snapshots is that the Holiday Season has a strong effect on the number of homes sold. During this time of year Buyers and Sellers simply become preoccupied with glad tidings, shopping and holiday travels. For many, it is also a period where they are just glad to take a break from the stress associated with the home buying/selling process.

For some, it is also a time to regroup and look forward to the challenges of Vancouver Real Estate in 2011.

Vancouver West is the 7th and last of November 2010′s community series.

We have suffered an unusually bitter cold this month with snow that sent Vancouver drivers into the usual frenzy of meetings by accident.

This snapshot of Vancouver real estate in its West Side community may well be considered a replication of that bitter cold weather pattern – at least as far as sales are concerned.

The snapshot reflects two moments in Vancouver’s real estate history. Those moments look at the periods of September 24 to October 23, 2010 and October 24 to November 23, 2010.

Listings

Total Listings decreased from Sept/Oct’s 704 to Oct/Nov’s 648.

Sales

It must have been the week of snow on the ground that slowed sales as they hovered near a one third drop from Sept/Oct’s 164 down to Oct/Nov’s 106.

Expired, Reductions, Increases, Days on Market

Christ Church Cathedral- 1905

• Sept/Oct had 55 listings expire. This increased to 57 listing mandates that failed to sell Oct/Nov.
• Price reductions in Sept/Oct tallied 131. This slowed to 129 in Oct/Nov.
• Sept/Oct was a more positive month for some sellers as it had 18 price increases. A change in the weather in Oct/Nov saw this number drop to 14.
• It took longer to lot longer to sell a home in Sept/Oct. At 37 days it might have seemed brisk compared to Oct/Nov’s 55 days.

Average and Median Prices of Sold Listings

• Sept/Oct’s Average Ask price was $2,220,843. This Average Ask price dropped in Oct/Nov to $2,071,785.
• The Median Ask price in Sept/Oct was $1,723,900. The Median ask dropped to $1,698,500 in Oct/Nov.
• The Average Sold price in the Sept/Oct was $2,111,314. Oct/Nov saw the Average Sold price drop to $1,979,632.
• The Median Sold price in Sept/Oct was $1,695,000. The anomaly – Oct/Nov Median Sold price increased to $1,739,000.

Thoughts

Expected and confirmed was that total listings and sold units would decrease. An indication that prices still remain high for some units rests with the slight increase in the expired listings. A further indication of this may be that the length of time to sell has also increased. Although prices have for most part, tapered the outstanding is the median price jump in Oct/Nov.

At this point in time, there are only a few hours before we see November’s month end numbers. Some west side seller’s and buyer’s might choose to attend evening services at the Cathedral in anticipation of the outcome.

Vancouver West is the 7th and last of October 2010′s community series.

As tricks would have it this last installment coincided with Halloween. The treat was that time was made to compile the numbers and complete this report 30 minutes before we head into the month of November.

This Halloween eve created an opportunity to conduct an informal and completely unscientific survey. Of the 400 children that came to my door this Halloween, each child of school age which amounted to approximately 300, was asked which school they attended. It was telling in that a sizeable number – perhaps 30%, were out of the school catchment area where I live. Of that 30% many came from neighbourhoods that would be considered as ‘better off’. Yet when asked why were they Tricking and Treating in my neighourhood the straight-up-children-never-lie response was generally that nobody in their neighbourhood does Halloween. How did they get here? “Oh our parents drove us.” Who are these children? Of that 30% nearly all were of Asian decent.

It’s an interesting result upon which I will reflect further though I admit I’m not sure that it has any relevance. As Halloween trivia goes it is yours to consider and I leave it with you to draw your own conclusions as we look at the Vancouver West detached home community snapshot.

The snapshot considers these two periods – August 25/10 to September 25/10 and September 25/10 to October 25/10.

Listings

Total Listings decreased from Aug/Sept’s 822 to Sept/Oct’s 789.

Sales

Sales slowed from Aug/Sept’s 136 to Sept/Oct’s 115.

Best Family Costume

Best Home Made Costume

Expired, Reductions, Increases, Days on Market

• Aug/Sept had 568 listings expire. That number dropped to 56 in Sept/Oct.
• Price reductions in Aug/Sept tallied 287. This slowed to 143 in Sept/Oct.
• There were 21 price increases in both periods.
• It took longer to sell a home in Aug/Sept at 50 whereas in Sept/Oct this dropped to 29 days.

Average and Median Prices

• Aug/Sept’s Average Ask price was $2,029,468. This Average Ask price dropped in Sept/Oct to $1,948,667.
• The Median Ask price in Aug/Sept was $1,688,000. The Median ask dropped to $1,650,000 in Sept/Oct.
• The Average Sold price in the Aug/Sept was $1,932,730. In Sept/Oct the Average Sold price drooped to $1,885,615.
• The Median Sold price in Aug/Sept was $1662,500. In Sept/Oct the Median Sold price increased slightly to $1,670,000.

Vancouver West is the seventh community on the last day in the series.

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

Today we look at Vancouver’s West 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 West communities had the following results.

Listings

Total Listings decreased from Jul/Aug’s 854 to Aug/Sept’s 827.

Sales

Sales decreased from Jul/Aug’s 135 to 94 in Aug/Sept.

Expired, Reductions, Increases, Days on Market

View of Kitsilano Indian Reserve looking east – 1907 CVA 1376-203

• Jul/Aug’s had 53 listing mandates expire. The number of expired listings increased to 67 in Aug/Sept.
• Price reductions in Jul/Aug’s were 172 slowing to 152 in Aug/Sept.
• There were 22 price increases in Jul/Aug and 25 in Aug/Sept.
• It took 52 days in both periods to sell a home.

Average and Median Prices

• Jul/Aug Average Ask price was $1,964,901. This Average Ask price increased n Aug/Sept to $2,086,709.
• The Median Ask price in Jul/Aug was $1,699,000. Like the Asking price, the Median also increased $1,718,000 in Aug/Sept.
• The Average Sold price in the Jul/Aug was $1,865,085. In Aug/Sept the Average Sold price increased to $1,984,628.
• The Median Sold price in Jul/Aug was $1,651,000. In Aug/Sept the Median Sol price increased to $1,672,500.

Have you stopped to think about the number of times you connected on the telephone only to hear a pleasant voice say – ‘one moment please’?

The Detached L.A.P.S. for Vancouver West may make you utter the same response.

Vancouver West Detached Units Listed

Units Listed continued to drop from April’s high of 424, the highest in two years. Down from July’s 221, August tallied only 196 units listed.

Vancouver West Detached Units Sold

In that moment while you silently held the phone, August’s sold units increased to 134 – up from 122 in July.

Vancouver West’s Detached Active Listings

While humming along to the Muzak, August’s active listings dropped to 681 as you waiting for the nice voice to return.

Vancouver West Detached Average Price

Some would rather have that silent voice at the other end simply hang up as opposed to waiting to hear Muzak’s news that Average prices in August increased from July’s $1,845,202 to August’s $1,908,544

Before You Hang Up

With a moment left before you disconnect a recorded message plays –

“Thank you for waiting. Please note, in Vancouver West the detached units Listed and active listings are down while units sold and average prices are up.”

“We thank you for your patience – please continue to hold! “