Vancouver Realty Online

We have compiled sales and listings statistics for the period running from April 27th to May 4th, 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 supply moved up to 187 from 161, which demonstrated a ~14% increase 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.

Listing versus Sales update for April 27th – May 4th

187 new listings in the Vancouver West Region with 93 (50%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 38 (41%)
• Coal Harbour: 14 (15%)
• West End: 24 (26%)
• False Creek North: 17 (18%)

TOTAL : 93

141 total sales in the Vancouver West Region with 70 (50%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 26 (37%)
• West End: 23 (33%)
• Coal Harbour: 13 (19%)
• False Creek North: 8 (11%)

TOTAL : 70

Sales volume continued to demonstrate further stability over the first quarter 2009, remaining relatively strong, moving from 144 sales to 141; the number remains well below seasonal norms but has improved notably over the past two months.  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 [141 : 187] ‘sales to listings’ or 75% 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