So first and foremost, a disclaimer! No one in our profession has a crystal ball. The only way to analyze the market correctly is to be on top of your numbers and accurately analyzing the market you’re in…so the idea of making a general prediction for 2012 goes against what my current practice ~ and makes me scratch my head a little at the idea of economic “predictions” in general. My opinion however, is that there’s always an up and a downside to buying or selling at any given moment, no matter the market ~ because no 2 people have the exact same circumstances. The real art of Real Estate and wise market interaction is being able to figure out your own priorities, leveraging and positioning in relation what’s going on in the market around you.

But as for my opinion on a general trend, I would offer this: With 2011 having started off hotter-than-hot in some localized neighbourhoods (ahem, we mean you West Side Vancouver…), the remainder of the year was a toe-to-toe dance between listing inventory (often high, creating a bit of a “buyers market” ~ although only marginally so) against demand. Looking ahead to 2012: I believe that Vancouver is a healthy and sound international market that is consistently being spurred-on not only by international buyers, but by the thousands of (sometimes affluent) Canadians moving here regularly from other parts of the country. While Global economists are predicting a slow-down for Canadian Real Estate, I believe that Vancouver will stay ahead of the curve, trudging forward and basically, staying “flat” or even while other markets might dip.
That’s my two cents. We’ll see how I fare!

So, this is an idea I’m committing to for 2012 ~ I hope you will join me.

Lately I’ve been thinking that like so many other things in life, the upkeep and maintenance of a positive attitude is a daily practice. One of the easiest ways to nourish the optimism habit is to keep a simple gratitude journal and jot down at least 5 things at the end of every day for which you are truly grateful.

Factual evidence of your life’s abundance can be quite the motivator… As Stuart Wilde says,

To be free is a great gift. To achieve that, you do not need great amounts of money or influence or power. All you need is the ability to place yourself in a non-confrontive mode…inner calm allows you to pull more and more opportunities to yourself, because energy seeks its own kind. Balance and great fortune can only come to a person who is balanced and feels fortunate.

So here’s to everything I”m lucky to have and experience… and to your experiences too!

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In the month of October, Vancouver listing numbers remained neck-and-neck with numbers from September. In the grand scheme, October was the first month all year to show a slight decrease in the total amount of listed properties throughout the entire lower mainland. With a sales-to-active ratio of 15%, the Greater Vancouver Market is hovering in the lower end of a balanced market and has been consistent in that trend for 5 months.

Total sales in Vancouver Proper for October 2011 were up ever so slightly (+0.41%) from September, and down (-7.23%) from one year ago. In Vancouver East, the market showed a drop in sales activity this October with 239 sales, down (-6.27%) from last month, and oddly, a zero percent change (+/-0.00%) from October 2010 when 239 homes also sold.

The market is healthy, however the talk has changed about our positioning in a buyer’s market since inventory has cooled for the first time in quite a few months and sales are modestly up. While Vancouver East and Vancouver West showed different trends in sales activity this month, the amount of New Listings was down both areas (-29.13% in Vancouver East to 416 and -21.52% in Vancouver West to 1021) for the month of October.

With fairly steady sales activity, detached benchmark prices in East Vancouver stayed fairly even, with detached prices up (+1.77% at $856,411), and down (-0.58% at $555,452) for attached properties. The apartment market also remained steady, dipping (-1.82%) to an average benchmark price of $335,370.

If you’d like more information from me regarding my East Vancouver Statistics, feel free to drop me an email at bess@bessdurey.com.

The Vancouver Real Estate Board’s official line

“Right now, prospective home buyers have a good selection of properties to choose from and more time to make decisions,” Rosario Setticasi, REBGV president said. “Home sellers should be mindful of local market conditions to ensure they are pricing their properties competitively.”