Firstly, what is a dream home? ..and what does “the Dream” consist of? There is an old (mid last Century) song that contains the line “that’s what happiness is”. Don’t know who sang it – never admit to that BECAUSE there will always be a member of a younger generation who will say (“who”?) thereby defining you as ‘old’!!! [although it does seem to have a distinctly ‘Doris Day-ish’ quality] and… who was Hayley Mills? Dashed if I know! Happiness … is that what achieving the Dream means? Did Mom and Dad find their’s in that 1 bedroom rental above the laundromat? OK – enough questions already!
The answer would appear to be that the “Dream” evolves as we evolve. Attaining a goal does not preclude setting one’s sights on the next one! For our offspring to afford anything but the more meagre homes in Vancouver without parental/family assistance will be a challenge going forward. London, New York and Paris have faced similar challenges that have prompted the modification of goals or, alternatively, a scaling down of the dream. I do not intend to stir up a storm of conflict but sometimes we have to deal in some part with the concept of “sense of entitlement”. That Vancouver is one of the more precious gems in this planet collection or if you prefer, ‘brighter stars in the sky’, are somewhat of a truism. At the risk of waxing Shakespearian we have to either pursue the dream or decide on an alternative reality, these are the questions.
I proposed last Update that it might be premature using that Update’s heading (‘Most active year ever’) at the beginning of the 8th month of the year. Seems from comments, texts and conversations – that a number of colleagues/ other Realtors, appraisers, inspectors, conveyancers etc concur based on their activity levels, with the headline. The 8th month’s performance, too, corroborates. 4 mths to go – will the activity continue?
On an ongoing basis I pledge both my continued personalized service and a commitment to my reduced business ecological “footprint”. A significant part is the radio (podcast) library which I’m continually creating.
Click on the “Podcast” Icon in the top right of this article to listen now.
And now that we have 2/3 rd of 2015 results to compare with 2/3 rd of 2014 our data is significantly more meaningful! North Van detached homes sold are up 17% from last year, attached (t/hses) up from last year by 43% and apartments up 45%. The detached median price is up 20% and inventory is down 6% from 2014. Median prices (t/hses) up 2% and down 8% for (apts). Inventory (t/hses) down 36% from August 31st 2014 and (apt) up 7% from last year for the same date.
In West Van, detached number of sales YTD for Aug 31st 2015 is up by 32% from last year at that time. Median price of what has sold is up 14% from last year and inventory now up 14% from Aug 31st 2014. On the condo side, attached (t/hses) sold by Aug 31st 2015 are up 55% from 2014. Active listings are unchanged year over year. Apartments reflect 135 sold in 2015 vs. 118 in 2014 (up 14%) – median price now up 3% and active listings down 1% from Aug 31st 2014.
I’ve had a number of requests for an updated version of the Average Price Graph for 2015 published by the Real Estate Board of Greater Vancouver. Here it is… enjoy!