Friday’s Facts - Vancouver Real Estate
Posted March 2nd, 2008 in Real Estate, Statistics
West Side Detached Homes
The Vancouver West Side real estate market continues in it’s steady performance compared to last year.
More Listings - More Sales
New listings continue upward at 241 listings. Sales are above last years number at 138. This is a 3% increase over last years sales volume of 133 homes.
Total YTD West Side numbers show a 14% increase in available inventory coming in at 477 listings up from 355 last year.
Average West side prices are up 29% YTD coming in at 1,803,034 up from 1,393,505.
Overall YTD Decline
System wide sales declined by 5% from 2,905 down to 2,733.
Is it a trend?
I wouldn’t be brushing the dust off the Bear suit just yet. If this market continues for two full quarters it might be time to roar. Considering that last year was an all-time record, what we may be experiencing is a return to a “normal” market.Average prices system wide increased up 17% YTD with average unit prices at 623,517 up from 531,687.
System wide 11,420 listings are now available up from 10,414. This will begin to impact some neighourhoods.
Assessment
- decerning demand - greater choice
- Days on Market DOM, increase
- decreasing number of sales
- more price reductions
Stats Courtesy of REBGV and are assumed to be correct.
Got a Vancouver Real Estate question? I’ll do my best to answer it. Call or send me an email. Larry
