We have compiled sales and listings statistics for the period running from
March 23rd to
March 30th,
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. New listings have continued to
decline (down to
132 from
170 or
22%),
which indicates strong market variables amongst sellers who are not
‘afraid to hold onto product’ in a relatively down market. 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 23rd - March 30th
132 new listings in the Vancouver West Region with 72 (55%) falling in the downtown areas (including: West End,
Downtown,
Coal Harbour, and
False Creek North sub-areas).
New Listings Per Sub-Area:
TOTAL : 72
111 total sales in the Vancouver West Region with 66 (59%) falling in the downtown areas.
Sales Per Sub-Area:
TOTAL : 66
Sales continued their relatively strong performance over the first quarter 2009, moving from
94 sales to
111;
the number remains well below seasonal norms but has improved notably
over the past 12 weeks. We expect stronger sales movement to 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
[111 : 132] or 84% - with market equilibrium, and the bottom of the current housing recession now in sight!
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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