We have compiled sales and listings statistics for the period running from April 20th to April 27th, 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. Listing activity continued to stay relatively moderate this Spring, as new product selection fell marginally this past week - new listing supply moved down to 161 from 171, which demonstrated a ~6% decrease. April and May have historically been quite busy periods for our markets, and we anticipate an increase in both listing and sales activity through early-July prior to a predictable lull in the later summer months.
Listing versus Sales update for April 20th - April 27th
161 new listings in the Vancouver West Region with 93 (58%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).
New Listings Per Sub-Area:
- Downtown Core: 18 (19%)
- Coal Harbour: 14 (15%)
- West End: 48 (52%)
- False Creek North: 13 (14%)
TOTAL : 93
144 total sales in the Vancouver West Region with 77 (53%) falling in the downtown areas.
Sales Per Sub-Area:
- Downtown Core: 14 (18%)
- West End: 14 (18%)
- Coal Harbour: 39 (51%)
- False Creek North: 10 (13%)
TOTAL : 77
Sales volume continued to demonstrate further stability over the first quarter 2009, moving from 116 sales to 144; the number remains well below seasonal norms but has improved notably over the past two months. 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 late-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 [144 : 161] or 89% - very competitive financing options, and a slight drawback on the supply side have led to a much tighter downtown market!
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!
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