Divergence
Posted December 21st, 2009 in Neighbourhood SnapShot, Vancouver East Side | 
East Side 30 and 60 Days
Vancouver’s East Side Detached real estate during the current past 30 day period Nov 21 – Dec 21 2009 compared to the previous 30 days Oct 21 – Nov 21, 2009 period recorded Total Listings dropping from 646 to 557. Sales dropped from 174 to 88. Average Sold prices dropped from $749,227 to $742,626. Median Sold prices kept pace dropping from $725,500 to $720,000.
Within the 557 Active Listings 108 reduced their price.
Numbers
FOR SALE
| FOR SALE |
Past 30 Days |
Prior 30 Days |
| Total Listings |
557 |
646 |
| Average Active Listing Price |
$819,767 |
$819,767 |
| Median Active Listing Price |
$807,433 |
$769,000 |
EXPIRED
| Expired Listings |
25 |
28 |
| Average Expired Price |
$786,915 |
$809,592 |
| Median Expired Price |
$669,000 |
$759,000 |
SOLD
| SOLD |
88 |
174 |
| Average Sold ASKING Price |
$751,030 |
$757,080 |
| Average Sold Price |
$742,626 |
$749,227 |
| Median Sold ASK Price |
$714,000 |
$729,000 |
| Median Sold Price |
$720,000 |
$725,500 |
Tiny Bubbles
Watching neighbourhood numbers is little different than watching the bubbles rise in a glass of clear soda. As a reflection of a market during a short period they can misdirect. Watching neighbourhoods as a collective does however, give perspective to the overall market. A couple of posts back we saw North Vancouver’s 30 and 60 day numbers match a pattern seen here for the east side.
The change, while not something you might want to shout about is one that syncs with North Vancouver showing a tiny, small, downward movement. Amongst us are those who will say but of course, silly – ‘it’s the holiday season, what else would you expect?’
True enough – historically that has been the case. You can see this on the long term Average Price Graph.
On this the shortest day of the year, what is bothersome is that 2008 and 2009 were two years that turned Vancouver real estate history up-side down. This upheaval leaves one to ask if these slight downward changes are a harbinger disguised as tiny bubbles?
*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.
Well, when the media starts yapping about a RE “bubble” as though it was something new, then you know it’s OVER.
Why, even Global’s Deborah Hope has a more intense, furrowed-brow look when reporting on it.