Monday, October 10, 2011

Vancouver Prices Still Ebullient in September

Charts charts charts
All data is from REBGV.

Sales are down from 2007 and down significantly from the wild year of 2009, but they are right on the five year average for September, partly because that includes the very depressed year of 2008. Inventories are high and building. MLS will most likely reach 17k again this week for the Greater Vancouver area and make a stab at 18k before the expirations hit at the end of the month.

Chart of monthly sales of single family homes SFH in Vancouver over five years

June continues to be the peak month for home prices.
Chart of Prices of Detached and All Sales in Vancouver 2010 2011
September sales were buoyant, despite worldwide financial turmoil. Theories about real estate being perceived as a safe haven despite recent experiences in the U.S. Ireland and Spain can take some support from this.
Year on Year change in house prices Vancouver
In a per area chart, smoothed quite brutally over 4 months, the main outliers are West Van with its skyrocketing prices and small areas like Port Moody, Maple Ridge and Sunshine for struggling.
Year on Year change in house prices by Vancouver region, smoothed over 4 months.

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