Sunday, June 14, 2009

Some YTD numbers

For North and West Van. In case you missed them.

Source: Alan Skinner a realtor, in North Shore Homes:

Comparison of Jan-May 2009 v Jan-May 2008

North Van

Detached: 17% less homes old. Average price down -18%
Townhouses: 7% less T/h sold. Average prices down -12%
Condos: 23% less Condos sold. Average prices down -16%

Inventory down a few % from 2008.

West Van

Detached: 30% less homes sold. Average prices down -21%
Townhouses: 70% less T/h sold. Average price down -29%
Condos: 27% less condos sold. Average price down -21%.

Inventory almost the same.

Both these areas had reached psychotic levels of over-pricing and I think they could come under further pressure if the economy and stock market falter.