90 Days to go and counting! Vancouver's 2010 Winter Olympics commence on February 12, 2010.The Olympic Village is Vancouver's last waterfront community. Vancouver real estate statistics for False Creek South (Olympic Village) saw listings up and sales down for October.
In her report to council in October, city manager Penny Ballem confirmed that 420 units of the 1,100 total units on the site (including affordable housing) have been "inspected, approved and locked down by VANOC". MilleniumWater will be pre-selling the remainder in May
We can only track the activity for this neighbourhood through MLS, not the Developers who are pre-selling, but that will eventually change and then we can get a better feel for the neighbourhood. Most expensive listing $1,749,000 for 1359 sq.ft. penthouse (air conditioned) in Foundry.
Address - 560 Cardero Street, Coal Harbour, Vancouver, BC. "Waterfront Place Complex". Avila was the first of four condo buildings to be built at Waterfront Place, on Coal Harbour's waterfront, of which there are 2 Bayshore buildings, 4 Waterfront Place buildings and 7 on West Cordova, for a total of only 13. The first 2 condos to be built in Coal Harbour were Harbourside Park (555 Jervis and 588 Broughton), followed by Avila and Bauhina
Built - 1998 . 21 floors featuring amazing water and mountain views from front condos.
A quick search of MLS solds shows only four Vancouver houses have sold over $10M. The most expensive being on Point Grey Road for nearly $15 Million this year. Currently the most expensive home listed on MLS is on Osler Street for $22M and there are 12 listings over $10M.
This just in from my mortgage broker, Alma Pasic. Borrow as much as $400,000 and pay $1,323.35 per month. Mortgage Sale Ends December 16, 2009. One of Canada's most Aggressive Mortgage Product's on sale now! All purchases, refinances or debt consolidations are elgilble for. Prime - .25% for 3 year variable = 2.00% TODAY. Email us at alma_pasic@telus.net for a free information package.
The Trend is your friend: It wasn't all that long ago that we were Prime +.80 etc..and look where we are now. What will Prime +/- look like in 3 yrs. That I can't answer but the trend is your friend. We could easily be back to P-.60 or greater in a few years which is perfect timing for when the 3yr ARM will be up for renewal.
Vancouver real estate analysis for False Creek North saw listings down from 127 to 125. Sales down from 41 in September to 33. Days on the market up to 53 but less than a year ago. The average selling price jumped from $714,000 to $980,000 as more condos sold over $1M, which also pushed up the $psf. The average supply of condos in this waterfront hood is down to 3 months. The sales over $1 million dropped in September but tripled in October. This neighbourhood now selling best between $700k and $1M. Both listings and sales crunching down together and now at the lowest since March/April. Will more buyers or sellers visit the market after 2010 Olympics in the Spring?
Listings - 125 six listed under $400,000 and only 17listings between $400,000 & $500,000. 23 listed between $500,000 and $700,000. 37 listed between $700,000 and $1 million. 31 listed between $1 & $2 million and 11 listed over $2 million. 12 condos did not sell and only two were re-listed, indicating these sellers will revisit the market again in the future, 50% of the 12 were over $1M.
Least expensive $299,00 for a small l bedroom. Most expensive The Penthouse at 1000 Beach avenue listed at $12,980,000
Vancouver's Downtown condo market saw listings and sales up in October, with the market under $700,000 selling the best. The average selling price jumped to $519,000 and the average $psf down a tad to $610. Monthly sales were the second highest for the year and higher than any month in 2008. Listings back to the Jan/Feb level. Condos that "expired" and didn't sell dropped from 53 to 33 (vs. 78 in Jan) and only 5 got relisted. Average days on the market for condos that sold steady at 32. 68% of the sales were under $500,000 (down from 80% in August) and sales increased over $1M. The supply is down to 3 months vs.16 months last October. List price to sales price ratio flat at 98%. Vancouver's downtown market remains strong.
Listings -543. Least expensive $220000 for a small studio. Most expensive -$6.6M for 3500 sqft in Residences on Georgia Sub-Penthouse.
Listings Inventory - 20 listings Downtown under $300,000. 112 between $300K and $400K. 134 listings between $400K and $500K. 160 condos listed between $500K and $700K. 64 listed between $700,000 and $1M. 53 listed over $1M, including 4 over $3M.
Vancouver real estate in the West End saw October listings down and sales flat, resulting in 2.6 months of inventory, same as September. The days on the market for condos that sold increased from 39 to 47. The average selling price dropped to $616,000 due to fewer condos selling over $1M. 75% of the sales remain under $500,000. The list price to sale price ratio flat at 98% and the highest for the year. In February the market under $300,000 was selling the best -currently only 15% of the sales which have been dropping since their peak in May. Affordability factor kicking in?
Listings - 157. 12 listed under $300,000 (including 1 under $200,000). 25 listed between $300,000 and $400,000. 20 listed between $400,000 and $500,000. 55 listed between $500,000 and $1M. 38 listed between $1M & $2M. 7 listed over $2M
Least expensive -$198,00 for a leasehold one bedroom
Most expensive - $5,888,000 for 4500 sq-ft in Shangri-la. View it
Vancouver, BC - November 13, 2009. The British Columbia Real Estate Association (BCREA) released its Fall 2009 Housing Forecast today.
BC Multiple Listing Service® (MLS®) residential sales are estimated to increase 20 per cent to 82,900 units this year from 68,923 units in 2008. Residential sales in 2010 are forecast to increase a further 8 per cent to 89,600 units. The ten-year average is 82,800 units.
The implementation of the HST on July l, 2010 will increase the cost of new housing.
Currently selling in the Olympic Village neighbourhood are Maynards Block, Pinnacleliving. In Kitsilano, on West Broadway where the IGA parking lot has been forever will now be a new condo tower. Mantra on 4th Ave is completed and still has suites for sale. Then there's Spruce on Spruce and W. Broadway in Fairview, starting in the mid $300s. Koi townhomes on Oak and 8th
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Vancouver real estate analysis for Coal Harbour in October saw sales and listings increase, compared to September. Days on market up slightly to 68, a tad higher than a year ago. Coal Harbour inventory dropped slightly to 4.6 months and has been in this range since April. Luxury sales over $2 million are on the upswing pushing up the average sale price to $1,191,800 (higher than a year ago) and average $ pr sq ft up to $848. List price to sale price ratio stable at 95%. No more than 5 months of inventory in any price range, including over $2M. However, as Fairmont Estates close in January we expect to see a number of flippers. New condos on Coal Harbour's waterfront now listed over $2000 psf, resales now at $1600 psf. Fairmont and Three Harbour Green are the last remaining new waterfront buildings. Waterfront condos are becoming ever more expensive.
Listings -139. 33 listed under $500,000. 43 listed between $500,000 and $1M. 31 listed between $1M and $2M and 32 listed over $2M, including 9 over $5M, expect to see this number rise as Fairmont completes and the flippers hit the market.
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BC Multiple Listing Service® (MLS®) residential sales are estimated to increase 20 per cent to 82,900 units this year from 68,923 units in 2008. Residential sales in 2010 are forecast to increase a further 8 per cent to 89,600 units. The ten-year average is 82,800 units.
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