Vancouver Real Estate Graphs for October 2008
by Maggie Chandler on November 10, 2008
in Uncategorized
The above graphs show Vancouver (west side) real estate graphs for houses, townhouses and condos and shows monthly activity over the last twelve months.
The house and condo graphs indicates a reduction in listings, which are now back to the June level. Townhome listings are the highest for the past 12 months. The number of new listings per month, for all types of property, decreased in October.
Dollar volume for all types of property is the lowest for the past 12 months, though the chart for house sand condos seems to indicate a levelling.
The average price for all types of property was up in October and is higher than it was in October 2007.
The median pricefor houses is down and even with a year ago. The median price for townhomes is up and higher than a year ago. The median price for condos is flat and the same as a year ago.
Largest number of sales for condos in October was in the $300-450,000 price range. For townhomes $500,000-$550,000 and over $1 million were the busiest price ranges and for houses the busiest price range is still over $1 million. The REBGV needs to break down the price range over $1 million.
In conclusion – Vancouver’s housing market stats for October show lower sales, lower listings, average price is up and median price is all over the map.
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Someone at the real estate board is really bad at stats. If you do a side by side comparison of the mlslink housing price index for the months of sept/oct you will find that there are only negative price changes for residential detached and apartments. Yet if you look at the real estate board of greater vancouver average price graph it shows an increase in price of detached and apartment for the month of oct.
T, the benchmarks all went down, but the average price for SFH went up thanks to some very expensive property sales. One was somewhere near 10million. Combine terribly low sales with a few very expensive sales and you get a higher average price that is meaningless. It would be nice if the board provided a benchmark graph, it’s far more accurate than the average.
Also, November so far is sitting at an average of $733K. Unless there are several very expensive properties sold again this month, I would expect the average to end up in the ~750K range, which would be down $75K from last month and ~40K from the month before.
Thx Matt. Makes sense.
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