Vancouver Realty Online

We would like to present ‘Westside Detached Stat Package’ for the week of May 11th – May 19th.

The 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 62 new detached active listings in the Vancouver West Region to 67 – as the detached supply again failed to stand up to demand with 77 detached sales.  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.   The demand is especially acute in Kitsilano where supply has definitely tailed off – especially in the Kits Point areas, and other sectors north of W 4th Ave.

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

Arbutus (AR) : 7
Cambie (CA) : 4
Dunbar (DU) : 6
Kerrisdale (KE) : 4
Kitsilano (KT) : 11
MacKenzie Heights (MH) : 1
Marpole (MR) : 5
Point Grey (PG) : 6
Quilchena (QU) : 1
South Cambie (SC) : 1
South Granville (SG) : 9
Shaughnessy (SH) : 6
S.W. Marine (SW) : 4
University (UL) : 3

67 total detached listings on the Westside from May 11th – May 19th.

This past week there were 77 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 77 detached sold listings on the Westside were distributed as follows:

Arbutus (AR) : 7
Cambie (CA) : 3
Dunbar (DU) : 11
Kerrisdale (KE) : 9
Kitsilano (KT) : 8
MacKenzie Heights (MH) : 2
Marpole (MR) : 4
Oakridge (OA) : 1
Point Grey (PG) : 7
Quilchena (QU) : 5
South Cambie (SC) : 2
South Granville (SG) : 13
Shaughnessy (SH) : 3
S.W. Marine (SW) : 1
Southlands (SL) : 1

77 total detached sales on the Westside from May 11th – May 19th.

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.  South Granville picked up with this week, and with 13 sales was our most active transaction market.

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 11th – May 19th.  New listing numbers demonstrated further stability this past week, moving from 94 new attached listings to 102 on the Westside.  Sales figures also continued to remain stable moving from 68 to 75 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 197 new active attached listings in the Vancouver West Region with 102 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 102 new active attached listings on the Westside were distributed as follows:

University (UL) : 6
S.W. Marine (SW) : 1
Southlands (SL) : 1
Shaughnessy (SH) : 1
South Granville (SG) : 2
Quilchena (QU) : 3
Point Grey (PG) : 12
Marpole (MR) : 5
Mount Pleasant (MP) : 4
Kitsilano (KT): 27
Kerrisdale (KE): 5
False Creek (FC) : 5
Fairview (FA) : 23
Dunbar (DU) : 2
Cambie (CA) : 5

The Westisde neighbourhoods accounted for 102 : 197 or 52% of overall Vancouver West attached new listings from May 11th – May 19th.

This past week there were 158 sold attached listings in the Vancouver West Region with 75 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 75 sold listings on the Westside were distributed as follows:

University (UL) : 5
South Granville (SG) : 1
South Cambie (SC) : 2
Quilchena (QU) : 4
Point Grey (PG) : 1
Oakridge (OA) : 1
Mount Pleasant (MP) : 5
Marpole (MR) : 4
Kitsilano (KT) : 28
Kerrisdale (KE) : 3
False Creek (FC) : 2
Fairview (FA) : 17
Cambie (CA) : 2

The Westside neighbourhoods accounted for 75 : 158 or 47% of overall Vancouver West attached solds from May 11th – May 19th.

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 11th to May 19th, 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 relative improvement this Spring, as new product selection increased during the past week; up to 197 from 177, which demonstrated a ~10% supply increase over the previous period.  The West End and Downtown core remained busy in both listing and sales this past week, and a new transaction volume bench-mark was set for Fals Creek North with 20 sales.  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 11th – May 19th

197 new listings in the Vancouver West Region with 95 (48%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 51 (54%)
• Coal Harbour: 13 (14%)
• West End: 24 (25%)
• False Creek North: 7 (7%)

TOTAL : 95

158 total sales in the Vancouver West Region with 83 (53%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 37 (45%)
• West End: 18 (21%)
• Coal Harbour: 8 (10%)
• False Creek North: 20 (24%)

TOTAL : 83

Sales volume continued to demonstrate further stability over the first quarter 2009, remaining strong, moving from 157 sales to 158. 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 [158 : 197] ‘sales to listings’ or 80% supply 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