Vancouver Realty Online

We would like to present ‘Westside Detached Stat Package’ for the week of June 1st – June 8th.

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 69 new detached active listings in the Vancouver West Region to 79 – as we continued to see nearly full supply saturation with 50 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 79 new detached active listings on the Westside were distributed as follows:

Arbutus (AR) : 2
Cambie (CA) : 1
Dunbar (DU) : 14
Kerrisdale (KE) : 3
Kitsilano (KT) : 7
MacKenzie Heights (MH) : 3
Marpole (MR) : 9
Oakridge (OA) : 4
Point Grey (PG) : 7
Quilchena (QU) : 3
South Cambie (SC) : 2
South Granville (SG) : 9
Shaughnessy (SH) : 6
Southlands (SL) : 1
S.W. Marine (SW) : 4
University (UL) : 3

79 total new detached listings on the Westside from June 1st – June 8th.

This past week there were 50 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 50 detached sold listings on the Westside were distributed as follows:

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

50 total detached sales on the Westside from June 1st – June 8th.

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.   Dunbar saw a real increase on the supply side over the past period with 14 new detached listings.

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 1st – 8th.  New listing numbers rose quite notably this past week as supply moved to match the recent increase in buyer fueled demand.  We saw 103 new attached listings on the Westside this period; down slightly from the 116 new attached listings the previous week.  Sales figures continued to demonstrate further stability (as they have for the majority of Quarter 1 2009) moving from 105 to 93 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 264 new active attached listings in the Vancouver West Region with 103 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 103 new active attached listings on the Westside were distributed as follows:

University (UL) : 12
South Cambie (SC) : 1
Shaughnessy (SH) : 2
Quilchena (QU) : 6
Point Grey (PG) : 4
Oakridge (OA) : 2
Marpole (MR) : 4
Mount Pleasant (MP) : 7
Kitsilano (KT): 25
Kerrisdale (KE): 4
False Creek (FC) : 4
Fairview (FA) : 29
Cambie (CA) : 3

The Westisde neighbourhoods accounted for 102 : 264 or 39% of overall Vancouver West attached new listings from June 1st – June 8th.

This past week there were 193 sold attached listings in the Vancouver West Region with 93 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) : 10
Shaughnessy (SH) : 1
South Cambie (SC) : 1
Quilchena (QU) : 4
Point Grey (PG) : 4
Oakridge (OA) : 2
Marpole (MR) : 6
Mount Pleasant (MP) : 3
Kitsilano (KT) : 25
Kerrisdale (KE) : 7
False Creek (FC) : 3
Fairview (FA) : 26

The Westside neighbourhoods accounted for 93 : 193 or 48% of overall Vancouver West attached solds from June 1st – June 8th.

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 1st to June 8th, 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 264 new listings (up from 254 new listings 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.  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 June 1st – June 8th

264 new listings in the Vancouver West Region with 161 (61%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 86 (53%)
• Coal Harbour: 25 (16%)
• West End: 34 (21%)
• False Creek North: 16 (10%)

TOTAL : 161

193 total sales in the Vancouver West Region with 100 (52%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 49 (49%)
• West End: 25 (25%)
• Coal Harbour: 8 (8%)
• False Creek North: 18 (18%)

TOTAL : 100

Sales volume continued to demonstrate continued strength over the first quarter 2009, moving from 213 sales to 193. 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