We have compiled sales and listings statistics for the period running from July 27th to August 4th, 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.  August has historically been a slow period for our markets as late-summer vacation periods, and general seasonal conditions often lead to low supply and transaction figures prior to resurgences in September and October.  Vancouver West as a whole saw 118 new attached listings; an notable decrese from the 221 new listings submitted last week.  We also witnessed a drop in sales volume with 139 sales (down from 176 confirmed in the previous period). There also remains an access demand for larger 1-bdrm (700 + sqft), and lower-end 2-bdrm product in the $450,000 to $550,000 range; especially in the Yaletown and False Creek North areas. 

Listing versus Sales update for June 27th to August 4th

118 new listings in the Vancouver West Region with 61(52%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 33 (54%)
• Coal Harbour: 6 (10%)
• West End: 9 (15%)
• False Creek North: 13 (21%)

TOTAL : 61 (52%)

139 total sales in the Vancouver West Region with 81 (58%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 39 (48%)
• West End: 22 (27%)
• Coal Harbour: 14 (18%)
• False Creek North: 6 (7%)

TOTAL : 81 (58%)

Not surprisingly, we saw a relatively severe drop in new listing activity this past week as we entered the seasonal slow period marked by the onset of August, and late-summer. Sales volume continued to show stability in the face of what appears to be economic recovery, moving from 176 sales to 139 attached sales. After a slight set-back late last week; the TSX played catch-up Tuesday, and surged forward (up 195 points); the rise being driven primarily by base metal prices, and good news in the housing, manufacturing, and banking sectors. The draw-back in late-summer supply skewed our listing to sales ratio somewhat as demand remained fairly active; [139 : 118] ’sales to listings’ or 118% saturation – interest rates looks to remain stable through the next quarter.

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