Collingwood Crunch

Collingwood Neighbourhood

The Crunch

The past few days have been interesting as we have seen a number of Vancouver east side neighbourhoods experiencing a nice little rush in market values. Merrily skipping through those communities we then stumble on to the streets of Collingwood.

Contradiction

Found in Collingwood is contradiction! Taking a position opposite to some of the other neighbourhoods, Collingwood’s Listings, Solds, and Prices have dropped in the last 30 days.

From the Dec/Jan period to the Jan/Feb period Total Listings receded from 105 to 82. Solds, dropped by half from 22 to 11 as the Median Days on Market shortened from 17 to 7.

$$$$$

Prices, both Average and Median, saw measurable reductions in value. Rounding the numbers, the Average List ($768,000) and Sold ($740,000) prices of the Dec/Jan period took a hit in the Jan/Feb period dropping to an Average List of ($655,000) with Average Solds coming in at ($648,000). The Median List and Sold recorded similar changes.

Leader of the Pack

Is the Collingwood neighbourhood leading the pack? Can we expect, in the weeks ahead, to see the other east side neighbourhoods fall from grace to emulate this community’s lack luster performance?