We have compiled sales and listings statistics for the period running from January 26th to February 2nd, 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.  There was an increase in buyer activity this past week though we expect it to take another 3-4 weeks to result in a notable higher volume in sales.  As it stands we see a noted decrease in new listings, and a relatively stable sales figure.  As mentioned, we expect the increased buyer activity and great lending conditions to result in an increase in sales over the next four weeks.

Listing versus Sales update for January 26 - February 2

151 new listings in the Vancouver West Region with 95 (63%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 40 (42%)
• Coal Harbour: 17 (18%)
• West End: 17 (18%)
• False Creek North: 21 (22%)

TOTAL : 95

46 total sales in the Vancouver West Region with 28 (51%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 12 (43%)
• West End: 9 (32%)
• Coal Harbour: 3 (11%)
• False Creek North: 4 (14%)

TOTAL : 28

Sales were up once again, moving from 38 sales to 46; the number remains well below seasonal norms.  As stated previously there has been an influx of buyer activity over the past two weeks as more individuals seem to be looking at price depreciation and favorable mortgage conditions.  There was also a drop-off in new listing activity as the post-holiday rush cools off.  The sales to listing ratio nearly doubled this past week to [46 : 151] or 30%. As we can see, however; the bulk of this movement was the result of a fall-off in new listing activity, and not an increase in sales volume.

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.mrdowntown.ca for up to date statistics, new listings, and all relevant real estate news!

Cheers

Mr. Downtown