Market Toppy? Top? Topped? - "The listing price is now $3 million and they have not had a single offer."

“If anyone is telling you that downtown Vancouver is hot as far as real estate is concerned, they’re blowing smoke.” – ‘Is the Vancouver Condo Market Starting to Soften?’, local realtor Ian Watts, youtube.com, 21 July 2011.
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“My brother, who bought on the west side in 1987 for just under $500K, sold in April for over $3.5 million. After seeing that sale, my sister and her husband listed their very similar – but actually newer and bigger- house located just a few blocks away. Their house has been on the market since early June. The listing price is now $3 million and they have not had a single offer.” – ‘don’t wait’ at VREAA 1 Aug 2011 7:21am
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“In the building where my wife and I are renting (Lower Lonsdale – North Van) a 2 bed condo was for sale for few months for a whopping $629,000. Crazy price compared to GTA where we moved from. Today, they had open house and a new price of $609,000. A $20,000 price drop. Another $300,000 or so and it will be worth it. It’s slowly starting to happen.” – Dclipse at greaterfool.ca 31 July 2011 10:45pm
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National RE commentator Garth Turner calls Vancouver market top: “Well, in case you missed the news, Vancouver real estate’s officially topped, and has begun the greasy slide back to that dark, sad place we call ‘the mean.’ Post-riot Chinese money is ebbing, locals are emasculated by debt, the BC economy’s stalled and there simply are not enough idiots left to put down two million for a stucco-over-wood eyesore on a ‘premium flat’ lot the rest of the country would find suitable for an unscheduled whiz” [hahaha; genuinely very funny. -ed.], greaterfool.ca, 31 July 2011
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Realtor Larry Yatkowsky stops posting sales numbers, citing as a reason that ‘return on investment’ for that activity is too low for him. [21 July 2011] [This is not an act of ebullience. Has the market already turned? -ed.]
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Realtor Will Wertheim (‘Agent Will’), source of weekly stats and bullish Vancouver RE opinions, declares he is leaving town, reasons unstated. [Not necessarily a 'top-o-the-market' event. Perhaps Will is leaving for reasons completely unrelated to the RE market. We've appreciated his stats posts, and we wish him well. Most realtors will be folding their tents well into the plunge; the last who is destined to leave will do so near the bottom.  -ed.]
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“Listings at UBC reached 200 !!!
In 2008-2009, I never saw them above 140.” [More building since then but, still, 200 seems a lot. -ed.]
- painted turtle at vancouvercondo.info 1 Aug 2011 5:20pm
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“This morning I woke up before my alarm in a bit of a panic attack. After having my house on the market for about a week and a half, and lots of interest over the and even an offer of $70k below asking (which we politely refused), and yesterday with complete silence, I’m wondering if the interest was just curiosity about a new property on the market, and that’s it, I’m too late. Like the guy on the ship who’s just figured out it’s sinking, and the seaman says, “oh sorry, the last lifeboat just left”. – Jim, as relayed by Garth, at greaterfool.ca 1 Aug 2011. Jim is selling in a suburb of Vancouver, has listed at $700K but laughs (anxiously, we presume) when asked if he would pay that for his own house.
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“The horror… the horror…”
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