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!