We would like to present ‘Westside Detached Stat Package’ for the week of July 27th – August 4th.
The Westside detached market experienced a drop-off in both transaction volume and listing figures this past week, marking a distruption in what had been a fairly static market dynamic since mid-March, as new listing and sales figures fell below what we have to come identify as ‘norms’ over the first two quarters of 2009; new listings moved from 77 new detached active listings in the Vancouver West Region to 44. Sales volume also fell off sharply this past week with 29 detached sales (to 60 the previous week). Not surprisingly, performance should 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. Late summer tends to be a rather ‘down time’ for our detached markets due to family vacations, and relativly instability prior to the onset of the school year in September.
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 44 new detached active listings on the Westside were distributed as follows:
Arbutus (AR) : 2
Cambie (CA) : 2
Dunbar (DU) : 2
Kerrisdale (KE) : 2
Kitsilano (KT) : 5
MacKenzie Heights (MH) : 5
Marpole (MR) : 4
Oakridge (OA) : 3
Point Grey (PG) : 3
Quilchena (QU) : 2
Shaughnessy (SH) : 4
South Granville (SG) : 9
Southlands (SL) : 1
44 total new detached listings on the Westside from July 27th – August 4th.
This past week there were 29 detached sold listings (a drop-off of 50% compared to the 60 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 29 detached sold listings on the Westside were distributed as follows:
Arbutus (AR) : 3
Cambie (CA) : 2
Dunbar (DU) : 5
Kitsilano (KT) : 3
Mackenzie Heights (MH) : 1
Oakridge (OA) : 2
Point Grey (PG) : 5
Quilchena (QU) : 1
South Cambie (SC) : 1
South Granville (SG) : 2
Shaughnessy (SH) : 2
S.W. Marine (SW) : 2
29 total detached sales on the Westside from July 27th – August 4th.
As we have predicted since the onset of Summer, the Westside detached activity fell off notably at the beginning of August as we witnessed the regular ‘seasonally low’ period of our real estate cycle. 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!
© 2012 Vancouver Realty Online. All Rights Reserved. All Agent's Licensed under RE/MAX Select Properties