Vancouver Realty Online

We would like to present ‘Westside Detached Stat Package’ for the week of June 22nd – June 29th.

The Westside detached market continued to perform fairly statically through the first quarter of 2009; with quite a flat supply and demand dynamic.  New listings moved from 76 new detached active listings in the Vancouver West Region to 58 – sales transactions also stayed relatively flat with 56 detached sales (to 51 last week).  We expect a further seasonal slowdown during the mid-Summer months prior to a resurgence in Quarter 4 2009.   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 58 new detached active listings on the Westside were distributed as follows:

Arbutus (AR) : 4
Cambie (CA) : 3
Dunbar (DU) : 9
Kerrisdale (KE) : 1
Kitsilano (KT) : 3
MacKenzie Heights (MH) : 4
Marpole (MR) : 2
Mount Pleasant (MP) : 1
Point Grey (PG) : 6
Quilchena (QU) : 3
Shaughnessy (SH) : 3
South Cambie (SC) : 2
South Granville (SG) : 8
Southlands (SL) : 2
S.W. Marine (SW) : 2
University (UL) : 5

58 total new detached listings on the Westside from June 22nd – June 29th.

This past week there were 56 detached sold listings (up slight from the 51 sold listings the previous week) 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 56 detached sold listings on the Westside were distributed as follows:

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

56 total detached sales on the Westside from June 22nd – June 29th.

The Westside has slowed down marginally over the past couple of weeks as well-priced product has moved with little in the way of new supply to counter-act the sales volume.  In addition, the mid-to-late Summer months tend to be particularly low-periods for the detached markets due to social factors (ie / summer vacation, etc.) and thus we anticipate a further flattening of the market over July and August prior to a resurgence in the early-Fall which should carry us through Quarter 4 2009 and the 2010 Winter Olympic Games.

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  June 22nd – 29th.  New listing numbers remained below seasonal norms; though quite steady, as we saw 94 new attached listings on the Westside this period; up slightly from the 80 new attached listings the previous week.  Sales transactions also remained steady with 93  attached sales on the Westside (with 110 the previous week).  Supply of attached product has continued to tighten on the Westside, following the detached market where the supply-side has seen lows since around mid-March.  We have witnessed a return of the international buyer with a number of individuals from the USA and Asia looking to take advantage of the pre-Olympic lull in pricing, and competitive financing options.  As per usual we expect a slight seasonal lull through the late-Summer months as people begin to take vacations, and enjoy the weather!

This past week there were 231 new active attached listings in the Vancouver West Region with 94 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 94 new active attached listings on the Westside were distributed as follows:

University (UL) : 5
S.W. Marine (SW) : 2
South Cambie (SC) : 1
Shaughnessy (SH) : 2
South Granville (SG) : 1
Quilchena (QU) : 3
Point Grey (PG) : 2
Oakridge (OA) : 3
Marpole (MR) : 4
Mount Pleasant (MP) : 12
Kitsilano (KT): 36
Kerrisdale (KE): 4
Fairview (FA) : 17
Cambie (CA) : 2

The Westisde neighbourhoods accounted for 94 : 231 or 41% of overall Vancouver West attached new listings from June 22nd – June 29th.

This past week there were 191 sold attached listings in the Vancouver West Region with 93 (down from 110 last week) 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 93 sold listings on the Westside were distributed as follows:

University (UL) : 14
Quilchena (QU) : 5
Point Grey (PG) : 5
Oakridge (OA) : 3
Marpole (MR) : 3
Mount Pleasant (MP) : 3
Kitsilano (KT) : 25
Kerrisdale (KE) : 9
False Creek (FC) : 1
Fairview (FA) : 20
Dunbar (DU) : 1
Cambie (CA) : 4

The Westside neighbourhoods accounted for 93 : 191 or 49% of overall Vancouver West attached solds from June 22nd – June 29th.

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 June 22nd to June 29th, 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.  This past week (and the month of May in general) was marked by an increase in market activity (both listings and sales) as well as a further demonstration of market stability and equilibrium; with 231 new listings (up from 191 new listings the previous week), and 191 attached sales (down slightly from the 217 sales the previous week). US and foreign buyer activity has been increasing recently as we have been working with numerous buyers out of California, Florida, and China with more coming in daily interested in Canada’s insulated banking system, competitive financing options, and relatively low Vancouver prices.  The supply-side remains tight in many downtown markets, especially for mid-grade property in the $350,000 – $550,000 range.

Listing versus Sales update for June 22nd – June 29th

231 new listings in the Vancouver West Region with 137 (59%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 82 (60%)
• Coal Harbour: 16 (11%)
• West End: 24 (18%)
• False Creek North: 15 (11%)

TOTAL : 137

191 total sales in the Vancouver West Region with 97 (51%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 49 (50%)
• West End: 28 (29%)
• Coal Harbour: 8 (8%)
• False Creek North: 13 (13%)

TOTAL : 107

Sales volume remained steady over the past week, moving from 217 sales to 191. Conversely we saw another surge in the supply-side, but many of the new listings failed to satiate the demand for mid-grade ($350,000 – $550,000), quality downtown product.  Yaletown and False Creek North are specific areas with limited supply in these ranges.  We expect stronger sales movement to continue through mid-Summer prior to some light seasonal lulls.  As stated previously there has been an influx of buyer activity over the past two months, 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 [191 : 231] ‘sales to listings’ or 83% saturation – stronger market fundamentals, a return to supply / demand equilibrium, and an influx of buyer activity has been leading our recovery period!

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

Recent reports from the Real Estate Board of Greater Vancouver support Vancouver Realty Online’s recent statistical analysis of the late-Spring market turn-around:

VANCOUVER, BC – A continued increase in buyer activity over the last four months has resulted in increased home sales and lessened the downward pressure on housing prices in Greater Vancouver.

The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 3,524 in May 2009, an increase of 17.4 per cent from the 3,002 sales recorded in May 2008, and an increase of 18.9 per cent compared to last month.

Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 4.5 per cent to $506,201 from $484,211. However, home prices compared to May 2008 levels are down 10.9 per cent.

“The increased level of buyer activity over the last few months has had a stabilizing effect on home prices across our region,” Scott Russell, REBGV president said. “MLS® data continues to show a trend toward a balanced market in the region.”

New listings for detached, attached and apartment properties declined in Greater Vancouver, down 36 per cent to 4,733 in May 2009 compared to May 2008, when 7,390 new units were listed. At 13,641, the total number of property listings on the Multiple Listing Service® declined 4.7 per cent compared to last month and 16 per cent compared to May 2008.

Sales of detached properties increased 16.5 per cent to 1,402 from the 1,203 detached sales recorded during the same period in 2008. The HPI benchmark price for detached properties declined 11.8 per cent from May 2008 to $680,320.

Sales of apartment properties in May 2009 increased 17.2 per cent to 1,458, compared to 1,244 sales in May 2008. The benchmark price of an apartment property declined 10.2 per cent from May 2008 to $349,987.

Attached property sales in May 2009 are up 19.6 per cent to 664, compared with the 555 sales in May 2008. The benchmark price of an attached unit decreased 9 per cent between May 2008 and 2009 to $435,848.

Bright spots in Greater Vancouver in May 2009 compared to May 2008:

Detached:	Burnaby	- up 48.9 per cent (140 units sold from 94)
	Maple Ridge/Pitt Meadows	- up 13.4 per cent (144 units sold from 127)
	North Vancouver	- up 31.4 per cent (134 units sold from 102)
	Port Moody/Belcarra	- up 52.6 per cent (29 units sold from 19)
	Richmond	- up 14.0 per cent (170 units sold from 142)
	Vancouver East	- up 11.1 per cent (180 units sold from 162)
	Vancouver West	- up 59.5 per cent (193 units sold from 121)
Attached:	Burnaby	- up 31.5 per cent (96 units sold from 73)
	Maple Ridge/Pitt Meadows	- up 43.8 per cent (46 units sold from 32)
	North Vancouver	- up 31.8 per cent (58 units sold from 44)
	Vancouver West	- up 54.5 per cent (102 units sold from 66)
Apartments:	Burnaby	- up 32.6 per cent (187 units sold from 141)
	North Vancouver	- up 22.6 per cent (103 units sold from 84)
	Richmond	- up 27.4 per cent (200 units sold from 157)
	Vancouver East	- up 28.7 per cent (139 units sold from 108)
	Vancouver West	- up 25.4 per cent (529 units sold from 422)