How much have Yaletown condo prices dropped over the past year? A whopping 27% lower than April 2011. Vancouver’s Downtown waterfront neighbourhood of Yaletown saw its prices on a roller coaster decline since peaking in Jan’11. Number of listings for sale have been on the rise since Dec’11 and are at the same level as Oct’10. Sales have been on a downward roller coaster since Mar’11 and dropped 30% from previous month. Nov’08 was the lowest month for sales.

How Long to Sell a Listing in Yaletown?

However, days on the market for Yaletown real estate continues to decrease and sits at 27.  Yaletown townhomes took an average of 64 days to sell. Average $psf is down to $708.

What Properties Are Selling Best in Yaletown Condos?

Yaletown’s condos in the $400,000-$500,000 range sold the best. Slightly more than half the sales were under $500,000 and only 15% over $1M.  One bedrooms held value the best over the last year with a 4% drop in average sale price.  Two bedrooms dropped 15% and three bedrooms dropped 45%. Strong buyers market!

P.S. I am your Vancouver real estate condo realtor!  Decades of experience marketing vancouver homes!

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How Much Have Yaletown Condo Prices Dropped? is a post from: Vancouver Real Estate-Vancouver Homes For Sale

Vancouver’s waterfront neighbourhood of  Kitsilano saw April real estate prices mixed, with houses falling a whopping 25% compared to a year ago, townhomes up 10% and condos up 5.5%.  House sales were up 40%, townhomes dropped 30% and condos dropped 30% from a year ago.  Listings dropped 12% for houses and increased  22% for condos and 70% for townhomes. All categories performing differently.

How Long to Sell a Listing in Vancouver’s Kitsilano?

In April 2012 days on the market forVancouver houses in Kitsilano was up 7% less vs. a year ago, to  25 days. Townhomes took an average of 17 days and was down 61% from a year ago and condos took an average of 43 days to sell, up 23% from a year ago. Average $psf for homes is $790, townhomes is $742 and condos $690.

What’s Selling Best in Vancouver’s Kitsilano Condos?

Vancouver condo prices in Kitsilano are down from the peak in February and are equal to Sept’09, riding the roller coaster.   The best appreciation over the last year was condos between $425,000 and $600,000 which went up 10.5%. Kitsilano Condos under $425,000 present the best value with a decline of 1.6% over the last year.

P.S. I am your Vancouver real estate condo realtor!  Decades of experience marketing vancouver homes!

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How are Vancouver Real Estate Prices in Kitsilano? is a post from: Vancouver Real Estate-Vancouver Homes For Sale

Vancouver’s Downtown condo market in April showed the average sale price rose to $518,068, up from $334,000 in Jan’06!  January was the peak and April was higher than March. Prices are up 0.5% over the last year, whilst total listings have now flattened and are equal to a year ago. Sales are down a whopping 20% from a year ago and lower than March, having peaked in Oct’09.   It’s taken an average of 45 days to sell a property in April, which is 49% longer than a year ago and the average $psf is 654, equal to a year ago. This Vancouver  neighbourhood is doing well, given current market conditions.

How Have Vancouver Downtown Condos Performed Vs. Townhomes?

Over the last year Vancouver Downtown townhomes have dropped 11.6% and condos have risen 1.1%. Townhomes peaked in Oct’09 and condos peaked in Jan’12.

Where’s the Best Value for Vancouver’s Downtown Properties?

Overall, the average sale price for 3 bedroom properties dropped 50% over the last year (lack of high end sales?). Two bedrooms gained 3.3% and one bedrooms performed the best with a 8.8% gain. We’ve returned to a lower priced market.

What’s your opinion of the Vancouver Downtown Condominium market? Are you buying or selling? Please leave a comment at the bottom of this page on Facebook.

Buying or Selling a condo or townhome in Vancouver’s Downtown? I come armed with stats and graphs, hyperlocal info, strong communication skills, all coupled with decades of experience!

How’s Vancouver’s Downtown Condo Market? is a post from: Vancouver Real Estate-Vancouver Homes For Sale

Vancouver’s condo market in Coal Harbour saw April’s average sale price down to $1,202,000 vs $1.187.000 a year ago and sales continued dropping, now half of what they were a year ago, with half of them under $750,000 and 40% between $1.050,000 and $1.8M. Solds took  longer to sell at 78 days.  The average price psf was down to $832, having achieved a peak in Oct’08 at $1015 and roller coastering since then.  Coal Harbour’s current listings are down slightly to 203.   Monthly new listings are now plateauing.  Sellers on average moved 5% off List Price.

Compared to a year ago, average price for Vancouver’s Coal Harbour townhome and condo 3 bedrooms was up 20%  (average price $3.1M), 2 bedrooms lost 20% (average price $1.003.000) and are equal to Feb’11 price.  One bedrooms fell 7.7% (average price 473,800).

Overall average sale price peaked in Nov’11 at $1,766,000, fell to $1,009,000 in January, up in Feb, down in March to $1,004,000 and up in April to $1,187,000.

How Much More Do Vancouver Coal Harbour Waterfront Condos Sell For?

Vancouver’s Coal Harbour has less than 40 condo buildings and the area is built out. It is made up mostly of condos but some building have townhomes as well.  2012 has had 20 waterfront condo sales an average sale price of  $2.8M or $1,274psf.  By comparison, there has only been one waterfront townhome sale this year. The average price of non Coal Harbour waterfront condos was $717,000 or $746psf

How do Prices of Vancouver Coal Harbour Townhomes Compare to Condos?

Given there are less than 20 townhomes currently listed, vs. 200 condos, the average price is difficult to calculate given the  limited number of townhome sales, never more than five a month,  as opposed to a large number of condo sales. If you wish to purchase a Vancouver Coal Harbour townhome I can drill down the stats for you for specific buildings.  Vancouver’s Coal Harbour townhome prices peaked in March’10 at $2.5M and now sit at $1.207.000.

How Much Have Prices dropped in Vancouver’s Coal Harbour?

With slowing sales, a year’s inventory and Coal Harbour’s Three Harbour Green about to add more inventory to the market,  the average price rollercoastering and currently sitting at the same level as July’08, I would conclude that Coal Harbour prices are already down. If you’re a seller you need to try and nail the peak and if you’re a buyer try and nail the valley! It is certainly a good buyers market for a Vancouver coal harbour listings.

Have a Vancouver Coal Harbour real estate stat you’d like? I come armed with graphs and hyperlocal info, coupled with decades of experience marketing Vancouver homes. (REBGV’s stat dept is down but email me if you wish a copy of the April Coal Harbour stat).

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How Much Have Real Estate Prices in Vancouver’s Coal Harbour Dropped? is a post from: Vancouver Real Estate-Vancouver Homes For Sale

Let’s drill down the stats for Vancouver real estate in April. Vancouver (west side) real estate graph shows average sale price for houses (-1.8%)  and condos (-4.5%)  has slipped from a year ago but townhomes are up(+10%).  We are definitely in a niche market. Greater Vancouver stats are different to Vancouver’s west side stats and neighbourhoods are performing differently, as are types of properties within those neighbourhoods. We can break it down further and say that one bedroom condos are performing better than two and three bedroom condos overall, but that varies from neighbourhood to neighbourood. We can also tell you that certain price ranges are performing better than others and that varies for the type of property. Welcome to hyperlocal information!

Which Vancouver Property Type has performed the Best Over the Last Year?

Houses! Their average sale price increased a $1M since Jan’09 vs. $370,000 for townhomes and $100,000 for condos.  But because houses had the strongest price increase over the last three years they may be poised to have the largest correction. Due to the reduction in sales from Chinese buyers at the upper end, the average price which was spiked due to this specific market, is now declining. But the local market which didn’t see the spike isn’t undergoing the same decline.

Vancouver average house price for April was $2,308,084  vs. $2,790,531 in Dec’11, which is a whopping $482,000 drop (-17%) bringing the price down to a tad under Apr’11 price. Whereas townhomes at $1,072,748 are up 23% since Dec’11  (capturing the local market that used to buy a house?) and condos are down 10% to $617,037, having peaked in Feb’12.

In fact, Vancouver’s condo average $psf  is at the same level as Mar’10 and townhomes are only a tad higher. Prices are on a roller coaster ride, with the peak not rising above the peak of two years ago. So perhaps the reduction buyers are hoping for has already taken place??

Why Hire a Hyperlocal Vancouver Realtor?

I keep restating that the Vancouver property market is doing different things in different neighbourhoods, in different price ranges, in different property types. When you hire me as a Vancouver Buyer or Seller agent I come armed with stats and graphs, hyperlocal info and decades of experience.

What’s your opinion? Please leave a comment at the bottom of this page, on Facebook.

Vancouver Real Estate Analysis for April 2012 is a post from: Vancouver Real Estate-Vancouver Homes For Sale

REBGV has just released the Greater Vancouver real estate stats for Aprril 2012. In a nutshell, listings are up, sales were the lowest total for the month since 2001 and 16.9% below the 10 year April average. I prefer to use the average price vs the benchmark price as I think it’s more realistic. Compared to a year ago the average for Greater Vancouver dropped 7.3%, townhomes 1% and condos 7.7%. View the graph

What are the Statistics for Property Listings?

Greater Vancouver property listings, compared to a year ago, were up 9.7% for houses, 9.4% for townhomes and 12% for condos

How did Home Sales Do in April?

Vancouver homes sales were down 19.4% for houses, 21.8% for townhomes and 0.8% for condos, compared to a year ago. Days on market up 30% from a year ago for houses, up 19.8% for townhomes and 13.2% for condos. What’s the average sellers moved from their list price? 2% for homes, for townhomes and condos 0.6%.

How’s the Vancouver market treating you? Please leave a comment on Facebook, at the bottom of this post

Greater Vancouver Real Estate Sales in April Back to 2001 Levels is a post from: Vancouver Real Estate-Vancouver Homes For Sale

If you’re a seller in our current  buyers market you need to understand the Vancouver condominium market and what price range is selling the best. If  you’re not in that price range,  will have to decide if this is the right time to sell and if it is, how to aggressively market and price your Vancouver  property to achieve the right results.  If you are a Vancouver buyer in the current buyers market, you need to analyse what  price range is the strongest and weakest,  so as to determine what percentage off the list price is achievable.

Are Vancouver One Bedroom Properties Outselling The Competition?

The stats for April show a total so far of 179 condos sold in Vancouver’s west side, of which 91 are one bedrooms and 80 are 2 bedrooms and only 8 are three bedrooms.

60% of  one bedrooms sold under $400,000 and 90% were under $500,000. One bedroom average days on market was 36.  Average sale price of $402,000 and $626psf.

50% of two bedroom sales were under $600,000 and only 15% were over $1M. The two bedrooms had an average of 46 days on the market, average sale price of $732,000 and $672psf.

Which Price Range Has the Most Property Sales in Vancouver?

55% of total Vancouver condo sales were under $500,000 and only 7% were over $1M.

With 75% of the sales under $600,000 it’s slim pickings for sellers with condos priced above that. As Cameron Muir at BCREA said, the higher price ranges pushed up the average sales price due to the high volume in that range and now the high end buyer has diminished, the average price is falling. In fact, the lower price range of the market is doing fine.

What’s your opinon of the Vancouver condo market? Leave a comment on Facebook, at the bottom of this page.

Buying or selling your Vancouver condo? I come armed with stats and graphs, hyperlocal info and decades of experience!

What’s Selling Best in Vancouver’s Condominium Market? is a post from: Vancouver Real Estate-Vancouver Homes For Sale

The stats for Downtown Vancouver condo market in March showed the average price to be $491,000, up from $334,000 in Jan’06! Prices are up 2.5% over the last year, whilst total listings are down 5% and sales are down a whopping 20%. It’s taken an average of 53 days to sell a property in March, which is 43% higher than a year ago and the average $psf is 642 which is -1% from a year ago.

How Have One Bedroom Condos In Downtown Vancouver Performed Over the Last Year?

The highest appreciation has been in the $450000 to $550000 price range, which saw a 3.5% increase.

Where’s the Best Value in Vancouver’s Downtown Neighbourhood?

Under $360,000 presents the best value with a 3.9% drop over the last year.

What’s your opinion of the Vancouver Downtown Condominium market? Are you buying or selling? Please leave a comment at the bottom of this page on Facebook.

Buying or Selling a condo or townhome in Vancouver’s Downtown? I come armed with stats and graphs, hyperlocal info, strong communication skills, all coupled with decades of experience.

How is Vancouver’s Downtown Condominium Market? is a post from: Vancouver Real Estate-Vancouver Homes For Sale

Every month I upload the East Vancouver real estate graph which shows the average price by month, over the last year, for homes, townhomes and condos. It also shows the dollar volume, total listings and total sales by month, over the last year.  View East Vancouver’s real estate graphs for March 2012.

Are East Vancouver Property Prices Trending Up or Down?

Based on the average price, East Vancouver property prices are higher than a year ago for houses (at an all time high) which are up 13% and for condos, which are up 4.7% and equal to the high in Sept’11, but townhomes are down 3.1% and lower than the peak in Oct’11.  Number of  listings are up in all three categories and sales are down 30% in homes and townhomes and 14% in condos.

Which is the Best Selling Price Range for Properties in East Vancouver?

East Vancouver houses with the most sales in March was the  $8000,000-$900,000 . For townhomes it was the $400,000-$600,000 price range and for condos $300,000 to $400,000.  Houses totalled 375 sales for the year, with condos a close second at 307 and townhomes bringing up the rear at 94.

What’s your opinion of the market? Are you buying or selling now?

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East Vancouver Real Estate Prices Still Trending Up in March is a post from: Vancouver Real Estate-Vancouver Homes For Sale

The Vancouver real estate market has been on a strong upward trend since 2002, when the average price was $302,660 versus $763,800 today. If we look back to when Vancouver’s market peaked in 1995 at $329,500 it wasn’t until 2004 that the average price surpassed that of 1995 at $362,800.  So if you bought at the peak of 1995 you had a long run til you could sell at a profit in 2004.  Vancouver real estate has been on a steady increase until 2011 when it peaked at $786,000 (in May) and is now down to $763,800. What do Vancouver buyers and sellers think?

I’m Confused! Is it a Buyers Market or a Sellers Market in Vancouver?

When clients ask me “how is the market”, I used to answer them in a couple of words because the market was the same for all kinds of properties in all neighbourhoods. Now its different,Vancouver houses and townhouses and condos are not all moving in the same direction at the same time and neighbourhoods aren’t in sinc either. As I’m working with clients I can tell they’re confused. Buyers have too much choice and that’s confusing. Sellers haven’t yet grasped the fact that the buyers are now in the drivers seat – after a long run – and they better get their price dead on or it won’t sell. The smart ones underlist their property and receive multiple offers. So is it a buyers or sellers market in Vancouver?

Is Vancouver’s Property Crystal Ball Cloudy?

REW recently polled 278 consumers who own real estate listings in Vancouver or are thinking of buying. “Is it a good time to buy or sell Vancouver real estate in the next 3 months?” The results were almost evenly split Yes (129/No 114). This result tells us that almost half of potential buyers are waiting for prices to drop. This has resulted in sales being below the 10 year average. Though not at an all time high, listings are above the 10 year average. The poll results showed sellers saying 46% Yes/42% No. Is your Vancouver property crystal ball still cloudy?

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Buying or Selling your Vancouver property? I come armed with stats and graphs,  hyperlocal info, and decades of experience!

Has Vancouver Real Estate Got Buyers and Sellers Confused? is a post from: Vancouver Real Estate-Vancouver Homes For Sale