Downtown Vancouver Attached Property Market Update : July 13th – July 20th

We have compiled sales and listings statistics for the period running from July 13th to July 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.  We witnessed a slight surge in downtown supply this past week, with the West End and downtown core neighbourhoods leading the way.  Sales volume remained relatively static, moving from 139 attached sales in Vancouver West to 164 sales. There also remains an access demand for larger 1-bdrm (700 + sqft), and lower-end 2-bdrm product in the $450,000 to $550,000 range; especially in the Yaletown and False Creek North areas. 

Listing versus Sales update for June 13th to July 20th

192 new listings in the Vancouver West Region with 116 (60%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 64 (55%)
• Coal Harbour: 9 (8%)
• West End: 28 (24%)
• False Creek North: 15 (13%)

TOTAL : 116

164 total sales in the Vancouver West Region with 97 (59%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 49 (51%)
• West End: 24 (25%)
• Coal Harbour: 10 (10%)
• False Creek North: 14 (14%)

TOTAL : 97

Sales volume saw a relative recovery after three straight weeks of downwards trending, moving from 139 sales to 192 attached sales. The downtown core neighbourhoods witnessed a slight boost on the supply-side as well, though there remains access demand in many areas and price ranges.  A recovery in commodity prices (specifically crude oil) has led to an early-week surge in the TSX, and along with competitive financing should continue to fuel the recovery in the Vancouver markets. The sales to listing ratio also remained relatively stable this past week sitting at [164 : 192] ’sales to listings’ or 85% saturation – interest rates looks to remain stable through the next quarter.

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.susankeevil.com and www.vancouverrealtyonline.com for up to date statistics, new listings, and all relevant real estate news!