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Highlights of Dexter’s December 2023 Report

  • Prices in Greater Vancouver were up 5% in 2023

  • Vancouver West Side detached prices showed an increase of 11.4% in 2023

  • Total number of New Listings were the lowest since 2001

  • Let the interest rate decreases begin

  • The Buying signal is now

It would seem...

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The Art Scene

West Side market conditions are improving.

While unit sales for February will be down from February 2012 and below the 10 year average, market conditions are improving. Strength is coming back into the market. We are seeing less inventory coming on market than would normally for this time of year. Sales to Listings Ratios (Absorption Rate) for all areas are improving, most notably on Vancouver’s West Side and Richmond – which were two markets seeing the most significant market adjustment. Market conditions continue to balance with those Sellers at today’s prices getting the attention of Buyers. While good opportunities for buyers still exist, they are dwindling. With these new listings coming on at better price points and confidence in the market growing, sales will accelerate.

Greater VancouverTotal Units Sold in February 2013 was 1,822 – up from 1,374 in January 2013 down from 2,572 in February 2012; New Listings in February 2013 were down 12% to February 2012; Month’s Supply of Total Residential Listings is down to 9 Months from 10 (Buyer’s Market).

Vancouver Westside Houses: Total Units Sold in February 2013 was 104 – up from 83 in January 2013 down from 177 in February 2012; New Listings in February 2013 were flat to February 2012; Month’s Supply of Total Residential Listings is flat at 9 Months (Buyer’s Market).
Vancouver Westside CondosTotal Units Sold in February 2013 was 253 – up from 200 in January 2013 down from 323 in February 2012; New Listings in February 2013 were down 20% to February 2012; Month’s Supply of Total Residential Listings is down to 7 Months from 8 (Balanced Market).
 
Vancouver Eastside Houses: Total Units Sold in February 2013 was 77 – up from 56 in January 2013 down from 125 in February 2012; New Listings in February 2013 were down 12% to February 2012; Month’s Supply of Total Residential Listings is down to 7 Months from 8 (Balanced Market).
Vancouver Eastside CondosTotal Units Sold in February 2013 was 67 – up from 57 in January 2013 down from 102 in February 2012; New Listings in February 2013 were down 33% to February 2012; Month’s Supply of Total Residential Listings is down to 7 Months from 8 (Balanced Market).
 

North Vancouver HousesTotal Units Sold in February 2013 was 76 – up from 52 in January 2013 down from 103 in February 2012; New Listings in February 2013 were down 4% to February 2012; Month’s Supply of Total Residential Listings is down to 5 Months from 6 (Balanced Market).
North Vancouver CondosTotal Units Sold in February 2013 was 52 – up from 38 in January 2013 down from 82 in February 2012; New Listings in February 2013 were down 18% to February 2012; Month’s Supply of Total Residential Listings is down to 7 Months from 9 (Balanced Market).
 
West Vancouver HousesTotal Units Sold in February 2013 was 31 – down from 38 in January 2013 down from 68 in February 2012; New Listings in February 2013 were up 39% to February 2012; Month’s Supply of Total Residential Listings is up to 16 Months from 11 (Buyer’s Market).
      
 
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Which kind of soaker are you?

I love my bath. For me taking a bath is nearly a nightly ritual.  Bubbles, a good book and hot steamy water - it is the way I decompress and escape.  Sometimes I can't escape even in there.  There have been many an aggressive and successful real estate negotiation also done from my tub!  And so far my Iphone has remained dry. Are you a soaker? And if yes, which kind are you?

Spa Sanctuary: Do you dream of the serene spa experience with a zen atmosphere like this one?

Modern & Simple: Ok, this looks good to me.  Simple, view outside and no ledge to hold my iphone so perhaps a real escape!

Circular: This looks like a bath for two?  Perfect at night with the city lights sparkling.  Does it have enough of a recline?

The Water Never Overflows: If you love an infinity pool, wouldn't an infinity bath be divine?

A Retro Retreat: A good clawfoot tub is hard to pass up.  Once the water is hot in one of these tubs, it stays really hot - love them!

Cleopatra's Den: A black tub is as sexy as Cleopatra herself.  
Natural Spring: Is this 'Glamping'?  It seems like you are in nature, but really you are in a sublime deep wooden bath.

     

Have you…

been to the new bakery & cafe calledBeaucoup? Wow it is delicious. I first went for the coffee because the pastries are not what I am supposed to be eating.  But I now have a new listing at the WSIX lofts around the corner, so I have been deviating and trying these decadent pastries and sandwiches.  The coffee is outstanding and the chocolate pastries which I go for, are mouth watering.  Some of the specialties I have yet to try have been described by others like the Kouign Amann, a traditional flaky pastry from Bretagne that’s layered with caramelized butter and sugar, and sprinkled with Maldon sea salt. There is the macaron frais, described as a macaron on steroids and a caramel eclair with black Hawaiian sea salt. Jackie Ellis, the owner/pastry chef, who studied in Paris, was recently honoured as one of Vancouver's Under 40 Foodies.  As a self-confessed chocolate freak, I know the best Mochas in the city, and Beaucoup is at the top - make a visit!

The Art Scene

Have you been down to the Main & 1st Ave area where all the cool Art Galleries have moved? This industrial area reminds me what I imagine Soho was like before Kate Spade and Calypso moved in.  If Balthazar is coming, I am moving closer! You must go check out the new exhibit at theWinsor Gallery. Brian Howell has produced large-scale photographs of newspaper printing plant interiors making his statement on the factories that support the journalism industry. I loved them. Catriona Jeffries was the first to make the move awhile ago, and other galleries to check out new to the area: Equinox and the Monte Clark Gallery. 

For more photography options, another favourite is the 
Truth & Beauty Gallery. Housed in a former grocery store, the truth and beauty gallery occupies a 1905 heritage-designated building in Vancouver’s Douglas Park neighborhood. Its mission is to create a photographer’s collective and to be a resource for buyers to access fine photographic art.

Until you make it down to the galleries, you might want to sign up for the daily 
Art Bomb. Every morning, I receive a new piece of art online. It is a daily auction featuring a different artwork by a rising Canadian art star.
ruthie@ruthieshugarman.com

604.879.2941

604.263.1144

604.263.6699

  

Dexter Associates Realty

Kerrisdale

2094 West 43rd Avenue

Vancouver, BC.   V6M 2C9

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