We have compiled sales and listings statistics for the period running from September 1st to September 8th, 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 go through fairly predictable seasonal lulls through the first week of September, as both listing and sales activity declined noticeably for the second straight week.  Vancouver West as a whole saw 145 new attached listings; supply fell more sharply then in previous periods, down from the 195 new listings submitted last week.  Sales volume also experienced a similar set-back, with 106 sales (down from 144 confirmed in the previous period).  Supply remains limited in the 1-bedroom market with sales of properties under the $450,000 mark continuing to be brisk; Yaletown and False Creek North continue to demonstrate pent up demand conditions.  We expect modest conditions to continue through mid-September prior to the regular increase in market activity in the Fall.

Listing versus Sales update for September 1st to September 8th

145 new listings in the Vancouver West Region with 86 (59%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 49 (58%)
• Coal Harbour: 11 (12%)
• West End: 13 (15%)
• False Creek North: 13 (15%)

TOTAL : 86 (59%)

106 total sales in the Vancouver West Region with 63 (59%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 30 (48%)
• West End: 15 (24%)
• Coal Harbour: 11 (17%)
• False Creek North: 7 (11%)

TOTAL : 63 (59%)

The market experienced a decrease in both listing and sales volume for the second straight week to begin September. The downtown markets took a slightly higher percentage of the Vancouver West market share; with 59% of new listings falling in the downtown neighbourhoods, and 59% of the firm sales transactions also falling downtown. Despite our listing versus sales ratio number there continues to be pent up demand in certain downtown areas, and over-supply in others; we have [106 : 145] ’sales to listings’ or 73% saturation – interest rates fell last week with most lenders offering in the range of 4.19% on a fixed 5-year term.

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