We have compiled sales and listings statistics for the period running from July 6th to July 13th, 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 we continued to relative decline into the mid and late summer market, as both transaction volume and new listing supply was down for the second consecutive week; with 188 new listings (down from 193 new listings the previous week), and 139 attached sales (down slightly from the 176 sales the previous week). The supply-side remains tight in many downtown markets, especially for mid-grade property in the $350,000 – $550,000 range; with a focus on 2-bedrooms valued at under the $600,000 mark.

Listing versus Sales update for June 6th to July 13th

188 new listings in the Vancouver West Region with 63 (34%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 81 (64%)
• Coal Harbour: 12 (10%)
• West End: 20 (16%)
• False Creek North: 12 (10%)

TOTAL : 126 (66%)

139 total sales in the Vancouver West Region with 78 (56%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 46 (60%)
• West End: 15 (19%)
• Coal Harbour: 8 (10%)
• False Creek North: 9 (11%)

TOTAL : 78

Sales volume fell for the third straight week, moving from 176 sales to 139 attached sales. 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 relatively stable this past week sitting at [139 : 188] ’sales to listings’ or 74% saturation – interest rates looks to remain stable through the next quarter, and economic conditions appear to have a hit a bit of a flat-line after a commodity based surge in late June.

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