Vancouver Realty Online

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

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