Westside Vancouver Detached Property Market Update : June 29th – July 6th

We would like to present ‘Westside Detached Stat Package’ for the week of June 29th – July 6th.

The Westside detached market continued to perform relatively slowly compared to historical norms with new listings moving from 58 new detached active listings in the Vancouver West Region to 49 – sales transactions also stayed relatively flat with 49 detached sales (to 56 last week).  We expect a further seasonal slowdown during the mid-Summer months prior to a resurgence in Quarter 4 2009.   Buyer competition remains active in these areas, and thus it may be a solid time to consider listing your home if you have been thinking about proceeding with a sale.   The demand is especially acute in Kitsilano where supply has definitely tailed off – especially in the Kits Point areas, and other sectors north of W 4th Ave.

Please note if your neighbourhood is not included in the weekly list it indicates there were zero (0) new listings in your area for that period.

The 49 new detached active listings on the Westside were distributed as follows:

Arbutus (AR) : 3
Cambie (CA) : 3
Dunbar (DU) : 4
Kitsilano (KT) : 5
MacKenzie Heights (MH) : 3
Marpole (MR) : 6
Oakridge (OA) : 2
Point Grey (PG) : 1
Quilchena (QU) : 3
Shaughnessy (SH) : 2
South Granville (SG) : 9
Southlands (SL) : 2
S.W. Marine (SW) : 2
University (UL) : 4

49 total new detached listings on the Westside from June 29th – July 6th.

This past week there were 43 detached sold listings (down from the 56 sold listings the previous week) in the Vancouver West Region. Please note if your neighbourhood is not included in the weekly list it indicates there were zero (0) sales in your area for that period.

The 43 detached sold listings on the Westside were distributed as follows:

Arbutus (AR) : 1
Cambie (CA) : 4
Dunbar (DU) : 6
Kerrisdale (KE) : 3
Kitsilano (KT) : 7
Mackenzie Heights (MH) : 3
Marpole (MR) : 3
Mount Pleasant (MP) : 1
Point Grey (PG) : 3
Quilchena (QU) : 1
South Granville (SG) : 6
Shaughnessy (SH) : 1
University (UL) : 4

43 total detached sales on the Westside from June 26th – July 6th.

The Westside has slowed down marginally over the past couple of weeks as well-priced product has moved with little in the way of new supply to counter-act the sales volume.  In addition, the mid-to-late Summer months tend to be particularly low-periods for the detached markets due to social factors (ie / summer vacation, etc.) and thus we anticipate a further flattening of the market over July and August prior to a resurgence in the early-Fall which should carry us through Quarter 4 2009 and the 2010 Winter Olympic Games.

If you are interested in more detailed breakdowns of sales versus listing ratios for your area please do not hesitate to get in touch with us! And remember to visit http://www.susankeevil.com and http://www.vancouverrealtyonline.com for even more real estate updates and info!

Westside resident? Check out http://www.kitsilanoshomes.com for information, and news specific to your neighbourhood!