Vancouver Realty Online

We would like to present ‘Westside Detached Stat Package’ for the week of May 4th – May 11th.

This detached market on the Westside continued to perform well below seasonal norms as the recent recovery in the attached and apartment markets due to better financing and economic conditions has not yet reached the higher-end housing market on the Westside.  New listings moved from 76 new detached active listings in the Vancouver West Region to 62 – as we continued to see a fall in detached housing supply on the Westside.  Attached and condominium markets tend to be what we refer to as ‘early indicators’, which should lead to further improvements in the detached market as 2009 continues.   The Westside detached market, more then anywhere else; has seen a real drop in supply in the face of a tighter market.  Buyer competition remains active in these areas, and thus it may be a solid time to consider listing your home if you have been thinking about proceeding with a sale.  Please note if your neighbourhood is not included in the weekly list it indicates there were zero (0) new listings in your area for that period.

The 62 new detached active listings on the Westside were distributed as follows:

Arbutus (AR) : 3
Cambie (CA) : 2
Dunbar (DU) : 6
Kerrisdale (KE) : 4
Kitsilano (KT) : 4
MacKenzie Heights (MH) : 4
Marpole (MR) : 5
Oakridge (OA) : 1
Point Grey (PG) : 4
Quilchena (QU) : 5
South Cambie (SC) : 1
South Granville (SG) : 9
Southlands (SL) : 1
Shaughnessy (SH) : 7
S.W. Marine (SW) : 4
University (UL) : 2

62 total detached listings on the Westside from May 4th – May 11th.

This past week there were 62 detached sold listings in the Vancouver West Region. Please note if your neighbourhood is not included in the weekly list it indicates there were zero (0) sales in your area for that period.

The 62 detached sold listings on the Westside were distributed as follows:

Arbutus (AR) : 2
Cambie (CA) : 5
Dunbar (DU) : 11
Kerrisdale (KE) : 4
Kitsilano (KT) : 4
MacKenzie Heights (MH) : 1
Marpole (MR) : 2
Mount Pleasant (MP) : 1
Oakridge (OA) : 1
Point Grey (PG) : 8
Quilchena (QU) : 2
South Cambie (SC) : 1
South Granville (SG) : 2
Shaughnessy (SH) : 11
S.W. Marine (SW) : 3
Southlands (SL) : 3
University (UL) : 1

62 total detached sales on the Westside from May 4th – May 11th.

Of important note is the 1 : 1 listing to ratio number, which indicates nearly full supply saturation in many of the Westside markets.  Especially competitive are the Kitsilano midgrade market with listings north of W 4th Avenue in the $1,000,000 – $1,400,000 in demand as well as the luxury markets in Point Grey and Shaughnessy.  Quilchena and South Granville are lagging a bit behind with greater supply and fewer successful sales though a greater saturation of available product.

If you are interested in more detailed breakdowns of sales versus listing ratios for your area please do not hesitate to get in touch with us! And remember to visit http://www.vancouverrealtyonline.com for even more real estate updates and info!

Westside resident? Check out http://www.kitsilanoshomes.com for information, and news specific to your neighbourhood!

We would like to present our  ‘Westside Attached Stat Package‘, for the week of May 4th – May 11th.  New listing numbers demonstrated further stability this past week, moving from 68 new attached listings to 94 on the Westside.  Sales figures also continued to remain stable moving from 65 to 68 attached sales on the Westside.  Good financing conditions, relative fall in supply, and a more positive overall economic outlooks has led to the more stable market conditions.

This past week there were 177 new active attached listings in the Vancouver West Region with 84 falling in the Westside neighbourhoods. Please note if your neighbourhood is not included in the weekly list it indicates there were zero (0) new listings in your area for that period.

The 84 new active attached listings on the Westside were distributed as follows:

University (UL) : 9
Shaughnessy (SH) : 2
South Granville (SG) : 1
South Cambie (SC) : 1
Quilchena (QU) : 7
Point Grey (PG) : 2
Oakridge (OA) : 3
Marpole (MR) : 3
Kitsilano (KT): 21
Kerrisdale (KE): 4
False Creek (FC) : 4
Fairview (FA) : 26
Cambie (CA) : 2
Arbutus (AR) : 1

The Westisde neighbourhoods accounted for 84 : 177 or 47% of overall Vancouver West attached new listings from May 4th – May 11th.

This past week there were 157 sold attached listings in the Vancouver West Region with 68 falling in the Westside neighbourhoods. Please note if your neighbourhood is not included in the weekly list it indicates there were zero (0) sales in your area for that period.

The 68 sold listings on the Westside were distributed as follows:

University (UL) : 8
S.W. Marine (SW) : 1
Shaughnessy (SH) : 1
South Granville (SG) : 2
South Cambie (SC) : 1
Quilchena (QU) : 6
Mount Pleasant (MP) : 1
Marpole (MR) : 1
Kitsilano (KT) : 18
Kerrisdale (KE) : 5
False Creek (FC) : 3
Fairview (FA) : 22
Dunbar (DU) : 1

The Westside neighbourhoods accounted for 70 : 157 or 45% of overall Vancouver West attached solds from May 4th – May 11th.

If you are interested in more detailed breakdowns of sales versus listing ratios for your area please do not hesitate to get in touch with us! And remember to visit http://www.vancouverrealtyonline.com for even more real estate updates and info!

Westside resident?  Check out http://www.kitsilanoshomes.com for information, and news specific to your neighbourhood!

We have compiled sales and listings statistics for the period running from May 4th to May 11th, and released them in this easy to read format! If you have any further questions or require more detail please get in touch with us. Listing activity continued to demonstrate relatively improvement this Spring, as new product selection increased during the past week – new listing dropped slightly; down to 177 from 187, which demonstrated a ~5% supply decrease over the previous period. April and May have historically been quite busy periods for our markets, and we anticipate an increase in both listing and sales activity through mid-June prior to a predictable lull in the later summer months.  Buyer activity has continued to increase as we witness more multiple offer situations.   This market is mostly defined by a real drop in supply (down nearly 40% from last year at this time), and heightened competition due to great financing options and an excess in demand.

Listing versus Sales update for May 4th – May 11th

177 new listings in the Vancouver West Region with 92 (52%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 48 (52%)
• Coal Harbour: 7 (8%)
• West End: 26 (28%)
• False Creek North: 11 (12%)

TOTAL : 92

157 total sales in the Vancouver West Region with 87 (55%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 41 (47%)
• West End: 22 (25%)
• Coal Harbour: 9 (10%)
• False Creek North: 15 (18%)

TOTAL : 87

Sales volume continued to demonstrate further stability over the first quarter 2009, remaining strong, moving from 144 sales to 157. Of note is the continual movement of the downtown market towards equilibrium as sales versus new listings have now moved very close to a 1 : 1 ratio; indicating improving market fundamentals (notably a healthy supply versus demand dynamic). We expect stronger sales movement to continue through late-Spring. As stated previously there has been an influx of buyer activity over the past month and a half, as more individuals seem to be looking at price depreciation and favorable mortgage conditions. The sales to listing ratio also remained strong this past week sitting at [157 : 177] ‘sales to listings’ or 89% saturation – very competitive financing options, and a slight drawback on the supply side have led to a much tighter downtown market!

If you have any questions about specific figures or activity in your neighbourhood please do not hesitate to give us a call! And remember to visit www.vancouverrealtyonline.com for up to date statistics, new listings, and all relevant real estate news!

Vancouver Realty Online