We have compiled sales and listings statistics for the period running from April 13th to April 20th, 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. Entrance level buyers continued to actively browse the market as showing activity again increased this week, and sales remained at a higher benchmark as we move into early Spring. New listing supply saw a further increase this past week (up to 171 from 124 or ~10%). April and May have historically been quite busy periods for our markets, and we anticipate an increase in both listing and sales activity in the next 60 days.
Listing versus Sales update for April 13th - April 20th
171 new listings in the Vancouver West Region with 84 (49%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).
New Listings Per Sub-Area:
- Downtown Core: 31 (37%)
- Coal Harbour: 10 (12%)
- West End: 25 (30%)
- False Creek North: 18 (21%)
TOTAL : 84
116 total sales in the Vancouver West Region with 65 (56%) falling in the downtown areas.
Sales Per Sub-Area:
- Downtown Core: 34 (52%)
- West End: 18 (28%)
- Coal Harbour: 7 (11%)
- False Creek North: 6 (9%)
TOTAL : 65
Sales continued their relatively strong performance over the first quarter 2009, moving from 104 sales to 116; the number remains well below seasonal norms but has improved notably over the past 12 weeks. Of note is the continual movement of the downtown market towards equilibrium as sales versus new listings have now moved very close to a 1 : 1 ratio; indicating improving market fundamentals. We expect stronger sales movement to continue through mid-Spring. As stated previously there has been an influx of buyer activity over the past month and a half, as more individuals seem to be looking at price depreciation and favorable mortgage conditions. The sales to listing ratio also remained strong this past week sitting at [116 : 171] or 68% - with market equilibrium, and the bottom of the current housing recession now in sight!
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 http://www.susankeevil.com and www.vancouverrealtyonline.com for up to date statistics, new listings, and all relevant real estate news!
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