We have compiled sales and listings statistics for the period running from June 29th to July 6th, 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.  This past week (and the month of May in general) was marked by an increase in market activity (both listings and sales) as well as a further demonstration of market stability and equilibrium; with 193 new listings (down from 231 new listings the previous week), and 176 attached sales (down slightly from the 191 sales the previous week). We have continued to see a slight seasonal slowdown as we edge into July (as expected) though sales volume has remained relatively consistent over the past 4 weeks.  The supply-side remains tight in many downtown markets, especially for mid-grade property in the $350,000 – $550,000 range.

Listing versus Sales update for June 29th to July 6th

193 new listings in the Vancouver West Region with 106 (54%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 66 (62%)
• Coal Harbour: 9 (9%)
• West End: 16 (15%)
• False Creek North: 15 (14%)

TOTAL : 106

176 total sales in the Vancouver West Region with 89 (51%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 42 (46%)
• West End: 21 (24%)
• Coal Harbour: 13 (15%)
• False Creek North: 13 (15%)

TOTAL : 89

Sales volume fell for the second straight week, moving from 191 sales to 176. The downtown core neighbourhoods witnessed the most drastic decrease in transactions as we ease into the mid-Summer months; a period where Vancouver tends to experience seasonal lulls.  As stated previously there has been an influx of buyer activity over the past two months, 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 [176 : 193] ’sales to listings’ or 91% saturation – stronger market fundamentals, a return to supply / demand equilibrium, and an influx of buyer activity has been leading our recovery period!

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