Still Busy But Less Frantic

Still Busy But Less Frantic

Beware of “Logical” Conclusions…
The Vancouver Sun (Mar 3rd) ran a headline which concluded, based on the 28 days in Feb ‘06 vs ’05, that sales volumes are dropping and Greater Vancouver condos have “taken the biggest hit”. A reader in say, West Vancouver, could certainly be forgiven if they in turn concluded that sales of their neghbourhood’s real estate were dropping off. Fact: Feb ’06 vs ’05 in W/Van detached – up 15% and attached up 50%. Apartments saw 14 units (’06) vs 23 units (’05) – sold. Somewhat at variance with the headline. Remember two things here i) we are dealing with a small snapshot in time (28 days – approx 7.5% of a calendar year) – not even a mention of what may have transpired in the prior month (even though that was almost 11% longer – don’t you hate irrelevant statistics!) and ii) small sample sizes (time or number) can cause stats to be “logical” and erratic at the same time. Clearly an example of  using “one swallow to predict summer” – or is it?  In any event, be very skeptical of  “one month trends” whether they be up or down. Sadly, headlines seldom carry impact if worded “Is this past month’s drop in sales the start of a new market trend?”

 

Related Article:

May 2011 Numbers

May 2011 Numbers

Now for the 2011 year to date, 4 month results for our North Shore. North Van detached homes sold are up by 26% from the previous year, attached (t/hses) no change and apartments up 1% from 2010. Detached – of the 424 sold thus far this year, average price is 3% higher than this time ’10, and inventory Apr 30th ’11, down by 15% (but up from last month). Average prices up 1% (t/hses) and down 4% (apts). Inventory (t/hse) 21% higher than Apr 30th ’10 and (apt) up 6% from 2010. N/Van overall inventory at Apr 30th ’11 is now a little lower than 2010 and N/Van, 12% higher in total number of sales ’10 to ’11(873 vs. 780).

 

In West Van, detached number of sales for 2011 is up by 73% from last year.  Average price up by 17% and inventory Apr 30th ’11down by 15% from last year. On the condo side – sales of attached (t/hses) are lower at 23 vs. 26 units; average price down 26%. Active listings down from Apr 30th ’10 (31 vs. 59).  Apartments sold are up 48% over 2010; with average price 9% higher than ’10 and active listings down 29% from Apr 30th ’10.  Overall markedly lower inventory and strong demand, especially at the upper end price-wise.

 

Yes, dramatic sales growth in W/Van with shrinking inventory and N/Van, higher sales with slightly reduced inventory.

 

Again, visit my website to see and “hear” the new developments.  I continue my commitment to keep you…www.OnTopOfTheMarket.ca – the “go to” site for North Shore Real Estate analysis and jumping off point for FULL market listing information.

 

To join those wishing to get the e-mail version of this “update” – send a request now to alanskinner@shaw.ca and you’ll be assured receipt; phone me at (604) 988-7368 or visitwww.OnTopOfTheMarket.ca

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This year I pledge to continue my personalized service and further reduce my business ecological “footprint”. A new initiative is the radio (podcast) library which I am creating.

All North Vancouver Real Estate “Updates”, reports and information articles, checklists etc. will be archived on my website and available for download or desktop listening 24/7. You can access the information you seek when the spirit moves and not when someone pushes yet another flyer into your mailbox. I am most excited about these developments. Input as to the topics for “programming” you feel would be of interest is strongly sought. Please e-mail This email address is being protected from spam bots, you need JavaScript enabled to view it or call me 604 988-7368

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