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We speak in Tongues

Blog by Patrick O'Donnell PREC* | February 1st, 2012

West Vancouver Sales Stats for 2012 & New Listings for today

Well here we are almost at the end of January already. Where did the month go?  So far in West Vancouver we have had 26 sales with an average price of 2.3 million. Which if you see the previous day’s blog is 1 million below the average list price in certain areas of West Vancouver at this time.

Not that it seems to matter to West Vancouver buyers, but interest rates have dropped again. You can now actually get a 10 year rate at 3.8%.  While there are lots of people jumping up and down about how great this is, I have to be honest; it does not bode well for the person hoping to make their money on GIC’s. When a ten year rate sticks at 3.8% the short term recovery of Europe and the U.S. is not a given!

February 2nd is Ground Hog day. God I really want that old ground hog to not see his shadow! A wee bit of sunshine would sure be nice.

There were 5 new listings in West Vancouver today and 15 for all of the North Shore.

Now I am not going to make a comment today on each and every one of the new listings, but I am going to give you a little insight into exactly what some of the descriptions mean. This will help when you read the description as to whether or not it is worth a second look.

So for example, when the description says ‘Situated on a heavily wooded lot with a Creek running through the private backyard (Code for dark and damp)  or when it says ‘this home has been updated but still maintains the character of the 1950’s’ (lipstick reno) Easy access to the highway or steps away from Park Royal (code for runs parallel to the busiest street in West Vancouver – bring ear muffs) ‘A unique layout’ code for no normal family could possibly function here.  And the winner,  ‘This home has a new water line’ code for ‘I am at a loss as to how I can explain this value’

Tomorrow we will return with a vault full of stats to analyse the first month of 2012 and try to give you some insight for the upcoming spring market.