experts: real estate column Friday, May 04, 2001

SPRING HAS REALLY SPRUNG

".... rough winds do shake the darling buds of May" as Shakespeare said, and so it is in real estate on the North Shore.

By Alan  Skinner

".... rough winds do shake the darling buds of May" as Shakespeare said, and so it is in real estate on the North Shore. N/Van in particular, as we believe we are seeing a stormy "election driven" squall. Detached sale numbers are up 20% over last year, attached up 83% and even apartments 14%. The inventories are all down; detached 9%; attached 10% and apartments 4%. Average prices haven't changed as yet, with the exception of the average price of apartments sold, down 16% from last year. This is likely also a product of more lower priced units selling (but not only that, by any means).

W/Van has been an interesting combination of pluses and minuses. Both attached and apartments sold better this year (27 over 17 for attached and 44 over 40 for apartments) but detached sales are down 11% with a marginally lower average dollar per sale. Attached and apartment inventory has dropped, 12% and 16% respectively, while, not surprisingly, detached inventory is up 12%.

But what of June, July, August and beyond? Ever strengthening? Plateauing? The third alternative? ... and your final answer?? Onward and upward, initially by number sold, in all but W/Van detached, but even that will, I believe, turn around as the year turns.

I started with poetry, so, here goes!

This time 2002? All in the pink or all in the blue? My call is that we'll see - much stronger Realty. .... my apologies William!

Please join the group subscribing to the e-mail version of this "update" - send a request now to northshore@canada.com and you'll be assured receipt, or phone me at 988-7368 for your monthly fax copy.

Please don't hesitate to call/e-mail with any questions on local real estate, whether buying, selling or just looking at future options.

Alan is the host of "The Real Estate Show" (a Media Mentors' production) heard Sunday between 2 and 3 pm on CFUN AM 1410 - Listen in - Phone in with your questions!




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Related Links:

http://www.alanskinner.com/

http://www.cfun.com/realestateshow.htm

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