We have compiled sales and listings statistics for the period running from
November 16th to
November 23rd,
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. The downtown neighbourhoods accounted for
155 of 214 or
72% of new active attached listings this past week as new listing supply recovered after falling for two consecutive periods; the downtown markets continued to contribute a high ratio of new attached listings. On the confirmed sales side, downtown accounted for a more moderate
86 of 141 or
60% of confirmed sales in Vancouver West. The downtown core neighbourhoods continued to be the most dominant sector in both supply and demand numbers, well False Creek North saw a rise in new listing supply this past week; with a number of new one-bedroom listings. The Tinseltown area (Abbott St., Keefer St., Taylor St.) continues to demonstrate sales growth; with one-bedroom and two-bedrooms in the $450,000 - $500,000 range moving at a very good rate. There continues to be excess demand for mid-tier two-bedroom units priced in the $500,000-$600,000 range; especially in the Yaletown and False Creek North areas. We anticipate the usual seasonal slowdowns around the holiday season leading into the Olympics when we'll wait to see how the Games affect our markets post-recession.
Listing versus Sales update for November 16th to November 23rd
214 new listings in the Vancouver West Region with 155 (72%) falling in the downtown areas (including: West End,
Downtown,
Coal Harbour, and
False Creek North sub-areas).
New Listings Per Sub-Area:
TOTAL : 155 (72%)
141 total sales in the Vancouver West Region with 86 (61%) falling in the downtown areas.
Sales Per Sub-Area:
TOTAL : 86 (61%)
As mentioned, the downtown markets accounted for 61% of the
overall Vancouver West sales increases this past week. New listing
activity remains the most active in the 1-bdrm market, with plenty of
units priced in the sub-$400,000 range.
The downtown markets represented a significant portion of the
Vancouver
West market share; with 72% of
new listings falling in the downtown neighbourhoods; and 61% of the
firm sales transactions also falling downtown. Listing supply increased after falling for two consecutive weeks, well sales activity took a bit of a hit; we have [141 : 214] ’sales to listings’ or 66% 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
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