Supply conditions continued to moderate this past week as the market reacted to lower-then-average sales figures through August, and a drop in general consumer confidence through the period. This past week we saw 131 new attached listings (down for the second consecutive week from the 146 new attached listings in the previous week). The downtown core fell notably with just 28 new attached listings this past week (down from 86 new attached listings in the previous period) with Coal Harbour and False Creek North remaining relatively stable with 16 and 12 new attached listings in each respective neighbourhood. The bulk of the listing decrease thus came in the downtown core neighbourhoods (which include areas like Yaletown and Gastown), which is not particularly surprising given the supply density in the area.
Conditions in the Greater Vancouver housing market continued to favour buyers in August. Since April, prices have edged down slightly as the number of sales and the number of
properties coming on to the market have been declining. The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,202 in August 2010.
This represents a 36 per cent decline from the 3,441 sales in August 2009, the second highest selling August ever recorded, and a 2.4 per cent decline compared to July 2010. From a wider perspective, last month’s residential sales represent a 40.4 per cent increase over the 1,568 residential sales in August 2008, a 34.9 per cent decline compared to August 2007’s 3,384 sales, and a 26.6 per cent decline compared to August 2006’s 2,998 sales.
New listings for detached, attached and apartment properties declined 17.5 per cent to 3,750 in August 2010 compared to August 2009 when 4,544 new units were listed. Total active listings in Greater Vancouver currently sit at 15,421, a 6.1 per cent decline from last month and a 29 per cent increase from August 2009.
The living room offers lovely city and park views, access to a large 200+ square foot terrace, dramatic 20 ft ceiling height and ample space for large furniture pieces and artwork. Open the patio doors and enjoy a lovely indoor/outdoor living experience year round. This is luxury living at it’s finest.
The gourmet kitchen was designed for the entertaining chef and offers a Fisher&Paykel stainless steel appliance package, a wine cooler, an abundance of counter space and cabinetry, a dry pantry, and a lovely breakfast bar.
Price : $1,688,888 Bedrooms : 2 Bathrooms : 3 Square Footage : 2240 Year Built : 2008 Tax : $5,362 (2009) Maintenance : $812.85 Amenities : Air Cond./Central, Bike Room, Exercise Centre, Garden, In Suite Laundry, Recreation Center
1133 Homer St. “H & H”. Welcome to your “Home in the Sky”. No need to sacrifice space to live in the heart of Yaletown. This 2240 sqft spectacular 2-bdrm + den Penthouse has it all; luxurious finishes, floor-to-ceiling windows, 9 ft vaulted-ceilings, hardwood floors, gourmet kitchen w/ gas range, limestone counters, teak cabinets, and a master suite like no other with very spacious walk-in closet and the ultimate over-sized master bath/spa. [READ MORE]
Stay tuned over the next few days for more information on this stunning Penthouse property in Vancouver’s historic Yaletown district.
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