Vancouver Realty Online

We would like to present ‘Westside Detached Stat Package’ for the week of May 25th – June 1st.

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 58 new detached active listings in the Vancouver West Region to 69 – as we continued to see nearly full supply saturation with 56 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.  We did witness a slight increase in supply in these areas this past week, but there remains a degree of ‘pent-up’ demand.

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

Arbutus (AR) : 4
Dunbar (DU) : 7
Kerrisdale (KE) : 4
Kitsilano (KT) : 10
MacKenzie Heights (MH) : 2
Marpole (MR) : 5
Oakridge (OA) : 1
Point Grey (PG) : 8
Quilchena (QU) : 4
South Cambie (SC) : 2
South Granville (SG) : 10
Shaughnessy (SH) : 7
Southlands (SL) : 1
S.W. Marine (SW) : 1
University (UL) : 3

69 total new detached listings on the Westside from May 25th – June 1st.

This past week there were 56 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 56 detached sold listings on the Westside were distributed as follows:

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

56 total detached sales on the Westside from May 25th – June 1st.

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 continued to lead the Westside in transaction volume with 8 sales, and Kerrisdale saw an increase in transaction activity with 9 sales.

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!

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We would like to present our  ‘Westside Attached Stat Package‘, for the week of May 25th – June 1st.  New listing numbers rose quite notably this past week as supply moved to match the recent increase in buyer fueled demand.  We saw 116 new attached listings on the Westside this period as opposed to only 58 new attached listings the previous week.  Sales figures continued to demonstrate further growth (as they have for the majority of Quarter 1 2009) moving from 76 to 105 attached sales on the Westside.  General economic health including a rise in commodity prices, easing of credit and debt spreads, as well as a restoration of consumer confidence has driven our modest recovery. Good financing conditions, relative fall in supply, and a more positive overall economic outlooks has led to a notable increase in buyer demand, which is most prevalent in the downtown and Westside attached markets.  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.

This past week there were 254 new active attached listings in the Vancouver West Region with 116 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 116 new active attached listings on the Westside were distributed as follows:

University (UL) : 12
Southlands (SL) : 1
Shaughnessy (SH) : 1
Quilchena (QU) : 4
Point Grey (PG) : 5
Oakridge (OA) : 1
Marpole (MR) : 5
Mount Pleasant (MP) : 9
Kitsilano (KT): 30
Kerrisdale (KE): 8
False Creek (FC) : 2
Fairview (FA) : 32
Dunbar (DU) : 3
Cambie (CA) : 3

The Westisde neighbourhoods accounted for 116 : 254 or 46% of overall Vancouver West attached new listings from May 25th – June 1st.

This past week there were 213 sold attached listings in the Vancouver West Region with 105 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 105 sold listings on the Westside were distributed as follows:

University (UL) : 8
Shaughnessy (SH) : 2
South Cambie (SC) : 2
Quilchena (QU) : 5
Point Grey (PG) : 3
Oakridge (OA) : 4
Marpole (MR) : 5
Kitsilano (KT) : 33
Kerrisdale (KE) : 9
False Creek (FC) : 5
Fairview (FA) : 26
Dunbar (DU) : 1
Cambie (CA) : 1

The Westside neighbourhoods accounted for 105 : 213 or 49% of overall Vancouver West attached solds from May 25th – June 1st.

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!

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We have compiled sales and listings statistics for the period running from May 25th to June 1st, 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 254 new listings (up from 130 new listings the previous week), which demonstrated a ~49% supply increase.  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.  Many lenders and mortgage specialists have been predicting (quite rightly) a forthcoming increase in lending rates as our economy begins its recovery.  Stock market health, a decrease in credit gaps as well as healthy commodity prices have aided in a Canada-wide stabilization.  Transaction volume numbers have remained strong, and with interest rates looking to remain relatively low in the interim we expect a very competitive summer for our markets.

Listing versus Sales update for May 25th – June 1st

254 new listings in the Vancouver West Region with 138 (54%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 71 (51%)
• Coal Harbour: 26 (19%)
• West End: 28 (20%)
• False Creek North: 13 (10%)

TOTAL : 138

213 total sales in the Vancouver West Region with 108 (51%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 50 (46%)
• West End: 32 (30%)
• Coal Harbour: 12 (11%)
• False Creek North: 14 (13%)

TOTAL : 108

Sales volume continued to demonstrate continual growth over the first quarter 2009, moving from 155 sales to 213. Of note is the continual movement of the downtown market towards equilibrium as sales versus new listings have remained in the 1 : 1 ratio range; indicating improving market fundamentals (notably a healthy supply versus demand dynamic). We expect stronger sales movement to continue through early-Summer. 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 [213 : 254] ‘sales to listings’ or 84% 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

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