We have compiled sales and listings statistics for the period running from December 7th to December 14th, 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. Supply in the Vancouver West markets continued to ease into the late-December holiday lull as we saw a decline to a low of 125 new attached listings; with downtown accounting for 96 or 77% of all attached listings in Vancouver West. Sales volume continued to remain relatively stable in the face of falling demand with 118 confirmed transactions in the Vancouver West neighbourhoods; downtown we saw 72 attached sales or 61% of the total sales in Vancouver West. There remains a lack of inventory in the entry-level two-bedroom market (pricing around the $550,000-$600,000 range). Low interest rates and limited supply continue to be the main catalysts behind very tight buying conditions.
Listing versus Sales update for December 7 - December 14
The downtown markets saw a third consecutive week of decreased supply numbers this past week with 96 new attached listings to 72 attached sales. There is some speculation that a post-Olympic supply boom may be on the horizon with a large amount of vacant properties either hitting the tenancy or re-sale markets. The beginning of March will mark the beginning of the ‘Olympic effect’ and should be monitored closely by both buyers and sellers. If you’re interested in more information on how the Olympics may impact you please give us a call.
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