We have compiled sales and listings statistics for the period running from August 17th to August 24th, 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.  The market continued to perform admirably considering the usual seasonal lulls around late-August and the often stilted recovery after the marked global recession.  Vancouver West as a whole saw 206 new attached listings; down marginally from the 216 new listings submitted last week.  Sales volume experienced a slight set-back, with 177 sales (down from 220 confirmed in the previous period).  Much of the new supply remains very concentrated in the downtown core areas; excluding Yaletown, which along with False Creek North, has a lack of supply in the $450,000 - $600,000 price bracket.  We expect modest conditions to continue through August prior to the regular increase in market activity in September and October.  After a relative drop in both downtown listing, and sales activity in early August we've seen a rebound back to levels similar to our record-setting July.

Listing versus Sales update for August 17th to August 24th

206 new listings in the Vancouver West Region with 139 (67%) 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 (58%)
• Coal Harbour: 16 (12%)
• West End: 29 (21%)
• False Creek North: 13 (9%)

TOTAL : 139 (67%)

177 total sales in the Vancouver West Region with 106 (60%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 57 (54%)
• West End: 22 (21%)
• Coal Harbour: 12 (11%)
• False Creek North: 15 (14%)

TOTAL : 106 (60%)

As mentioned the market continued to recover after struggling through the final week of July, and early August prior to posting gains in both transaction volume and supply in the past two weeks. The downtown neighbourhood took a greater slice of the market share in Vancouver West attached sales and listings this past week; with 67% of new listings falling in teh downtown neighbourhoods, with 60% of the firm sales transactions also falling downtown. The surge in activity has brought our listing to sales ratio back to near par; with [177 : 206] ’sales to listings’ or 86% saturation – interest rates looks to remain stable through the next quarter despite the recent inflation in Canadian Dollar value.

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