The Vancouver Real Estate Board released the above graph and it shows the average price of house, townhouses and condos is trending up again. This has occured since March. The graph shows the houses on the top, townhomes (middle) and condos (bottom) average price from 1977 to present. The Vancouver market peaked in 1981, 1990, 1995 and 2008. Vancouver condos didn’t appreciate much between 1990 and 2002 but they did between 2002 and 2008 and prices are back to where they were in mid to late 2006. Listings down and sales are up.
Following are the stats for Vancouver West Side
Listings – in May there were a total of 979 listings, vs 949 in May. In March there were 904. In May 2008 there were 1,616 new listings. Total listings for Jan-May 2009 were 4,665.. Same period for 2008 were 6,503
Sales - in May there were a total of 862 west side sales. In April 2008 there were 626. In March 2009 there were 539. Year to date sales 2,670. Same period last year 2,834.
1 Year change in Benchmark Price for Resale condos – down 9.6%. Townhomes are down 9.7% and houses are down 10%.
Benchmark Price for resale condos over the last 5 years - condos are up 46.5%, townhomes are up 53% and houses are up 59%
When you’re ready to buy or sell Vancouver real estate, contact Maggie, an experienced agent marketing Vancouver real estate since 1981.
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