We have compiled sales and listings statistics for the period running from
March 16th to
March 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. Entrance
level buyers continued to actively browse the market as showing
activity again increased this week, and sales remained at a higher
benchmark as we move into early Spring. 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 properties. We saw a slight
decrease in new listings this past week (approximately -20), and
another jump in sales activity. This demonstrates the continuation of
the ‘tightening up’ of the downtown market (and Vancouver West markets
in general). As mentioned, we expect the increased buyer activity and
great lending conditions to result in an increase in sales as we
continue into Spring.
Listing versus Sales update for March 16th - March 23rd
170 new listings in the Vancouver West Region with 85 (50%) falling in the downtown areas (including: West End,
Downtown,
Coal Harbour, and
False Creek North sub-areas).
New Listings Per Sub-Area:
TOTAL : 85
94 total sales in the Vancouver West Region with 49 (52%) falling in the downtown areas.
Sales Per Sub-Area:
TOTAL : 49
Sales spiked this past week, moving from
76 sales to
94;
the number remains well below seasonal norms though we are getting
closer, and have seen stronger sales movement continue 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
[94 : 170] or 56% - finally breaking the 50% mark!
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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