We have compiled sales and listings statistics for the period running from October 8th to October 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.  New listing supply in Vancouver continued to trend upwards with the most notable gains in the downtown core neighbourhoods, which accounted for nearly the same level of new supply as the entire Westside combined.  It remains important, however; to look at the price and location of the bulk of the new listing supply as we continue to see an excess of 1-bedroom suites in the $350,000-$400,000 range; especially outside of Yaletown and False Creek North.  Sharp pricing remains paramount for these types of listings as listing competition is sharp.  We continue to see a lack of supply in the lower-end 2-bedroom market ($500,000 range) and units in the Yaletown and False Creek North neighbourhoods continue to move at a brisk pace.  Sales volume remained relatively stationary over the past week with 173 confirmed transactions.  The downtown neighbourhoods continued to account for roughly half of the sales volume in Vancouver West, however; they continue to notably outpace the Westside in regards to new listing supply.  Vancouver West as a whole saw 290 new attached listings; supply increased for the third straight week, up from the 286 new listings submitted last week.  Sales volume saw another slight increase, with 173 sales (up from 165 confirmed in the previous period). The market continues to display evidence of stability leading into the 2010 Olympic games with first time buyers being the most active demographic, but the buyer demand is moving upwards; though luxury markets continue to see mixed conditions depending on area.

Listing versus Sales update for October 8th to October 13th

290 new listings in the Vancouver West Region with 173 (61%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 109 (62%)
• Coal Harbour: 27 (16%)
• West End: 21 (12%)
• False Creek North: 19 (10%)

TOTAL : 176 (61%)

173 total sales in the Vancouver West Region with 89 (51%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 48 (55%)
• West End: 22 (23%)
• Coal Harbour: 13 (15%)
• False Creek North: 6 (7%)

TOTAL : 89 (51%)

As mentioned, the downtown markets accounted for roughly half of the overall Vancouver West sales increases this past week. New listing activity continued to remain strong, especially in regards to the downtown core; and as mentioned the distribution of the new listings remains focused in certain areas. The downtown markets represented a significant portion of the Vancouver West market share; with 61% of new listings falling in the downtown neighbourhoods, and 51% of the firm sales transactions also falling downtown. Despite our listing versus sales ratio number there continues to be pent up demand in certain downtown areas;  we have [173 : 290] ’sales to listings’ or 60% saturation – look for interest rates to climb slightly over the next three to four months as the Federal Government moves to counter post-recession inflationary conditions.

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!  Also check out our other downtown specific sites at: http://www.vancouverscondos.com , http://www.yaletownresidences.com, http://www.coalharbourmarketing.com, and http://www.mrdowntown.ca!

Mr.Downtown
604.418.7653