Are You Tired Of This Real Estate Market?

I overheard a colleague saying “I’m tired of this market” and for some reason I thought of the old saying “When you’re tired of London, you’re tired of life”. As I walked away I asked myself – “Am I?” and with London in my head immediately thought of a vacation and know without a shadow of doubt that I’m definitely not tired of that metropolis!

Now to the R/E market. The thing I love about real estate is the way we, here on the North Shore and of course Greater Vancouver, encounter changing markets. That variety and the handling of buying and selling in vastly different markets is what keeps me going. That and trying to analyse a specific market while asking the question, “where are we going from here?”

I must admit that this variety has not been around in the past few years and, those cycles I believe in, are somewhat “stuck in a groove” – for those of us who remember vinyl records

December 2015 Numbers

Now to the YTD figures (11 mths). North Van detached homes sold are up 20% from last year, attached (t/hses) up from last year by 33% and apartments up 47%. The detached median price is up 22% and inventory is up 64% from 2014. Median prices (t/hses) up 5% and up 5% for (apts) too. Inventory (t/hses) up 50% from Nov 30th 2014 and (apt) down 5% from last year for the same date.

In West Van, detached number of sales YTD for Nov 30th 2015 is up by 29% from last year at that time. Median price of what has sold is up 16% from last year and inventory now up 32% from Nov 30th 2014. On the condo side, attached (t/hses) sold by Nov 30th 2015 are up 51% from 2014. Active listings are down 40% year over year. Apartments reflect 196 sold in 2015 vs. 172 in 2014 (up 14%) – median price now up 3% and active listings up 40% from Nov 30th 2014.