We have compiled sales and listings statistics for the period running from July 6th to July 13th, 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 we continued to relative decline into the mid and late summer market, as both transaction volume and new listing supply was down for the second consecutive week; with 188 new listings (down from 193 new listings the previous week), and 139 attached sales (down slightly from the 176 sales the previous week). The supply-side remains tight in many downtown markets, especially for mid-grade property in the $350,000 – $550,000 range; with a focus on 2-bedrooms valued at under the $600,000 mark.
Listing versus Sales update for June 6th to July 13th
188 new listings in the Vancouver West Region with 63 (34%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).
New Listings Per Sub-Area:
TOTAL : 125
139 total sales in the Vancouver West Region with 78 (56%) falling in the downtown areas.
Sales Per Sub-Area:
TOTAL : 78
Sales volume fell for the third straight week, moving from 176 sales to 139 attached sales. The downtown core neighbourhoods witnessed the most drastic decrease in transactions as we ease into the mid-Summer months; a period where Vancouver tends to experience 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 relatively stable this past week sitting at [139 : 188] ’sales to listings’ or 74% saturation – interest rates looks to remain stable through the next quarter, and economic conditions appear to have a hit a bit of a flat-line after a commodity based surge in late June.
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
We would like to present ‘Westside Detached Stat Package’ for the week of July 6th – July 13th.
The Westside detached market maintained a low performance rate as we continued into our mid-Summer seasonal slowdown; new listings moving from 49 new detached active listings in the Vancouver West Region to 76 (a moderate increase attributed mostly to Dunbar and South Granville) – sales transactions also stayed relatively flat with 48 detached sales (to 43 last week). We expect performance to remain relatively static through third quarter 2009 prior to a pre-Olympic surge in the late fourth quarter flowing into Q1 2010. 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 76 new detached active listings on the Westside were distributed as follows:
Arbutus (AR) : 3
Cambie (CA) : 4
Dunbar (DU) : 10
Kerrisdale (KE) : 4
Kitsilano (KT) : 6
MacKenzie Heights (MH) : 3
Marpole (MR) : 7
Oakridge (OA) : 2
Point Grey (PG) : 6
Quilchena (QU) : 6
Shaughnessy (SH) : 3
South Cambie (SC) : 1
South Granville (SG) : 10
Southlands (SL) : 4
S.W. Marine (SW) : 6
University (UL) : 1
76 total new detached listings on the Westside from July 6th – July 13th.
This past week there were 48 detached sold listings (static compared to the 43 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 48 detached sold listings on the Westside were distributed as follows:
Arbutus (AR) : 2
Cambie (CA) : 3
Dunbar (DU) : 3
Fairview (FA) : 1
Kerrisdale (KE) : 3
Kitsilano (KT) : 8
Mackenzie Heights (MH) : 2
Marpole (MR) : 8
Oakridge (OA) : 1
Point Grey (PG) : 2
Quilchena (QU) : 2
South Cambie (SC) : 3
South Granville (SG) : 5
Shaughnessy (SH) : 2
S.W. Marine (SW) : 2
University (UL) : 4
48 total detached sales on the Westside from July 6th – July 13th.
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!
Tags: arbutus, cambie, dunbar, fairview, kerrisdale, Kitsilano, mackenzie heights, mount pleasant, point grey, shaughnessy, south granville, Westside
We would like to present our ‘Westside Attached Stat Package‘, for the week of July 6th – July 13th. New listing numbers remained below seasonal norms; though quite steady, as we saw 63 new attached listings on the Westside this period; down notably from the 87 new attached listings the previous week (this marks the third straight week of supply-based decline). Sales transactions also fell for the third straight week, with 61 attached sales on the Westside (down from 87 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 188 new active attached listings in the Vancouver West Region with 63 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 63 new active attached listings on the Westside were distributed as follows:
University (UL) : 4
South Cambie (SC) : 1
Shaughnessy (SH) : 1
Quilchena (QU) : 3
Marpole (MR) : 6
Kitsilano (KT): 19
Kerrisdale (KE): 3
False Creek (FC) : 6
Fairview (FA) : 15
Cambie (CA) : 3
The Westisde neighbourhoods accounted for 63 : 188 or 34% of overall Vancouver West attached new listings from July 6th – July 13th.
This past week there were 139 sold attached listings in the Vancouver West Region with 78 (down from 87 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 78 sold listings on the Westside were distributed as follows:
University (UL) : 2
South Granville (SG) : 3
Quilchena (QU) : 1
Point Grey (PG) : 3
Oakridge (OA) : 1
Marpole (MR) : 4
Mount Pleasant (MP) : 3
Kitsilano (KT) : 16
Kerrisdale (KE) : 3
False Creek (FC) : 2
Fairview (FA) : 2
Cambie (CA) : 2
The Westside neighbourhoods accounted for 61 : 139 or 44% of overall Vancouver West attached solds from July 6th – July 13th.
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!
Tags: arbutus, cambie, dunbar, fairview, kerrisdale, Kitsilano, mackenzie heights, mount pleasant, point grey, shaughnessy, south granville, Westside
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