experts: real estate column Thursday, January 06, 2000

WELL THE '99 SCORE IS IN AND THE LIGHTS DIDN'T GO OUT

All segments (and dwelling type) experienced increased numbers of sales (?99 vs ?98) from 15% more in both the North and West Van detached markets, to about a 1/3rd increase in all others...

By Alan  Skinner

All segments (and dwelling type) experienced increased numbers of sales (?99 vs ?98) from 15% more in both the North and West Van detached markets, to about a 1/3rd increase in all others except West Van townhouses which recovered somewhat by doubling 1998?s dismal showing of 27 sales (1999 54). Average prices were stable (year over year) for all of North Van while West Van lagged a little at 5% down (detached) and 2% down (apartments). Townhouses ?doubling? trick brought with it a 5% average price gain (once again remember that numbers are limited and 1998 was extremely soft in this segment).

Inventories remain down in all segments except for North Van apartments (up 6% over last year) and West Van townhouses up to 70 from 46 in 1998.

Where will 2000 take us? This property watcher remains cautiously optimistic. North Van detached and townhouse prices will likely move up. Increased demand in North Van apartments has somewhat offset the increased inventory, so prices should stabilize and start improving, but only in the medium to longer term. West Van?s prices will take a little longer to improve with the supply of townhouses for sale causing a little concern.

Y2K has proven to be a pussycat and not a dragon; overall there is a strong sense of optimism and a renewal of positive feelings evident on many fronts. I wish all a participative role in this positivism and a healthy and fulfilling new beginning to our new century.




E-mail this story to a friend    Print this story   Save This Page to del.icio.us

     
Recent Articles by this columnist:

Keeping Realtors Honest
Tuesday, August 12, 2014


How well do we stack up?
Tuesday, July 29, 2014


Resistance to change and compliance delay
Wednesday, June 04, 2014


Of urban planning and municipal wisdom
Thursday, April 17, 2014


Yes, it's official - demand is rising
Tuesday, March 11, 2014


All articles by Alan  Skinner

Related Links:

http://www.alanskinner.com/

Related Articles:

Have you tried these JUROCK.COM FEATURES?

 

Newsletters

Subscribe To Our Newsletter

Check out this week's Jurock Real Estate Insider Special deal


'MONEY TALKS' HOT PROPERTY

Gibsons waterfront


'MONEY TALKS' HOT TIPS

Don't Worry About Greece ... Worry About The EU


LATEST OZZIE JUROCK articles


LATEST JUROCK.COM CONTRIBUTOR ARTICLES



   Privacy | Security | FAQ | Site Map | Masthead
Contact Us   
Copyright © 2014 Jurock Publishing Ltd. All rights reserved   Jurock.com