We have compiled sales and listings statistics for the period running from
October 20th to
October 27th,
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 West stumbled for the second consecutive
week; with downtown and the Westside neighbouhoods demonstrating
roughly equal decreases in listing activity. After falling
significantly last week, supply figures somewhat stabilized though
continued to trend downwards, with
172 new attached listing; falling from
198 new attached listings in our previous period.
As mentioned, the supply ratio between downtown and the Westside
remained static as both areas witnessed a similar drop off in new
listing supply; with the downtown markets accounting for
64% of new listing activity.
Sharp pricing continues to make the difference between long listing
periods and shorter sales times as sellers with over-ambitious starting
prices watch their properties take notably longer 'days on the market'
periods to sell. 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 stable over
this period, with
123 confirmed transactions; down from 127 sales the previous week.
An interesting statistical note this week, as the Westside outpaced the
downtown markets in regards to confirmed sales, as downtown accounted
for only
46% of transaction volume; an anomaly as downtown usually represents stronger sales figures in the attached market. 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. Bank of Canada posturing indicates stable lending rates through early-2010.
Listing versus Sales update for October 20th to October 27th
172 new listings in the Vancouver West Region with 110 (64%) falling in the downtown areas (including: West End,
Downtown,
Coal Harbour, and
False Creek North sub-areas).
New Listings Per Sub-Area:
TOTAL : 110 (64%)
123 total sales in the Vancouver West Region with 57 (46%) falling in the downtown areas.
Sales Per Sub-Area:
TOTAL : 57 (46%)
As mentioned, the downtown markets accounted for 64% of the
overall Vancouver West sales increases this past week. New listing
activity lagged for the second consecutive week after four weeks of positive growth.
The downtown markets represented a significant portion of the
Vancouver
West market share; with 64% of
new listings falling in the downtown neighbourhoods; and 46% 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 [123 : 172] ’sales to listings’ or 72% saturation
– as noted government posturing seems to indicate a stability in lending rates over the interim.
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
Comments(0), Average Rating: 0.0