Saturday, November 3, 2012

5 year Benchmark up-dates

Based on the REBGV stats package the following areas have negative 5 year price changes.

Overall (Composite)

Bowen Island -7.3%
Maple Ridge -3.7%
Pitt Meadow -2.3%
Squamish -2.0%
Sunshine Coast -6.6%


Bowen Island -7.3%
Maple Ridge -1.2%
Sunshine Coast -6.7%
Whistler -3.8%


Maple Ridge -7%
Port Moody -1.1%
Squamish -2.4%


Burnaby East -9.2%
Burnaby North -2.2%
Coquitlam -4.7%
Maple Ridge -10.8%
Pitt Meadows -12%
Port Coquitlam -11.8%
Port Moddy -5.6%
Squamish -12.7%
Tsawwassen 2.1%
West Vancouver -8.3%

A significant portion of Vancouver Real Estate is in recession. However there are still areas with appreciation. Eg West Van SFH - which is up 20% over 5 years, but there are special reasons (see the last comment someone put up on my last post) or East Van SFH up over 30% due to forced gentrification from Van West's high prices. I think Whistler's apartment numbers must be an aberrant number.

What I see is a Mexican stand-off in much of Vancouver, with the very high priced houses still selling but at a discount. 


  1. I had an interesting exchange at an open house in North Van yesterday. I asked the realtor if the owner would accept an offer 10-15% off asking price.

    Trying to steal it eh? he replied with a smirk.

    "And what is the seller trying to do? Skewer the buyer?" I asked. "Selling it for 50% more than he paid for it 4 years ago, without even having up-dated it. I showed him the " I showed him the listing from 4 years ago on my phone with the pictures looking identical.

    Wiped the smile off his face.

  2. Only 1,800 jobs created nationwide.
    "BC recorded an overall loss in the number of jobs — the biggest downturn in the country, according to the Statistics Canada report."

    "the biggest loss came in B.C., which reported 10,900 fewer jobs."

  3. Bought 6 years ago for $500k+, acreage house in the Okanagan. Owner is now asking more than double of assessment value @$700k+. A lot of greed out there.

  4. Coal tycoons from China will save BC real estate.

  5. Flickr founder is shutting down his Vancouver-based Glitch. Some 30 developers and associated staff will lose their jobs.

  6. Not real estate, but still relevant as it gives an insight of how their brains are wired.

    No license

    No insurance

  7. After only 2-1/2 months, the asking price drops $200k (-9.17%).
    MLS#: V966851
    Current BC assessed value is $2,011,000
    2012 August 16, listed for: $2,180,000
    2012 October 31, price reduced to: $1,980,000

    Its previous neighbor at house #3280 had better luck.
    On 2011-March-21, it was sold for $2,110,000, when its 2011 assessment value was $1,349,000 then. That was $761,000 above (+56.4% more than) the assessment value.

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