We have compiled sales and listings statistics for the period running from March 9th to March 16th, 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.  Entrance level buyers continued to actively browse the market as showing activity again increased this week, and sales remained at a higher benchmark since January.  In turn, we have seen an increase in mid-grade listing and sales activity.  Typically, as entry level property begins to move, we see upwards momentum, which influences the middle to upper tier level properties.  Both new listing supply, and sales figures remained quite stable this past week. This signifies the continuation of the ‘tightening up’ of the downtown market. 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 March 9th - March 16th

191 new listings in the Vancouver West Region with 108 (57%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 53 (49%)
• Coal Harbour: 12 (11%)
• West End: 24 (22%)
• False Creek North: 19 (18%)

TOTAL : 108

76 total sales in the Vancouver West Region with 36 (47%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 15 (42%)
• West End: 9 (25%)
• Coal Harbour: 7 (19%)
• False Creek North: 5 (14%)

TOTAL : 36

Sales decreased slightly this past week, moving from 81 sales to 76; the number remains well below seasonal norms, but we have seen stronger sales movement continuing through early-Spring. As stated previously there has been an influx of buyer activity over the past month and a half, as more individuals seem to be looking at price depreciation and favorable mortgage conditions. The sales to listing ratio also remained strong this past week sitting at [76 : 191] or 40%.

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