Vancouver Real Estate – Call Me A Skeptic
I follow a Vancouver realtor’s blog – called Yatter Matters – and he’s showing that April’s home prices rose, despite the economic situation.
The Bottom is Past – For Now!
Fellow Realtors are reporting that buyers are busy shopping in large numbers. Multiple offers are once again becoming the norm with selling prices above the asking reaching the same level of silliness witnessed in 2007. Stalled opens, showings and offer presentations geared to maximize the property’s exposure has returned to become the bain of buyers and buyer’s agents. Unit sales in April ‘09 for detached showed a decrease YOY of showed a sharp change from last month’s 19% settling in at 8%. Attached unit sales hovered at 2% with apartments taking similar courage coming in at 10%. April overall showed greater unit sales. Suffice to say that the markets of 08 so fondly remembered by all bears are for now, history. Considering the overall global financial impasse, a new paradigm in Vancouver Real estate may be at hand. No one is quite sure what to make of it except to consider it another Vancouverism!
I’d disagree with “the markets of 08 so fondly remembered by all bears are for now, history“. Out here in Port Moody, prices continue to fall and homes sit for months.
Here’s what you can get for the “average” $880K home price in Vancouver:
$878K – Marpole bsmt home 90% rebuilt 1989 due to fire.
$888K –3 bdrm up and 2 bdrm and laundry in basement. Gas fireplace. Corner at Yew St + 49 Ave. South facing. House needs some work. Property being sold as is.
Looks like the real estate industry in Vancouver is ready for a party again. If you believe the numbers…
I think I’ll continue to rent till after the Winter Olympics.
May 12th, 2009 at 9:16 am
It is interesting that Vancouver’s prices are on the rise. The two examples you show made my mouth drop open. At those prices, you could have a mansion down here is S. Florida.
Our prices aren’t changing all that much, possible because of the massive over-development, and maybe because the mood of our country hasn’t been all that positive.
One day the market is up, next day it’s down. The stores are quiet for the most part. So, maybe all you Vancouverites should just pick up and move down here to sunny Florida. Visit with an ibis or two, take a ride on a boat over the weekend…and show for a bargain basement home.