We have compiled sales and listings statistics for the period running from August 4th to August 10th, 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. The late-summer lull continued this past week; though we did witness a slight increase in new listing activity, we saw a very pronounced decline in sales volume as we moved into August. Vancouver West as a whole saw 152 new attached listings; a slight increase from the 118 new listings submitted last week. We also witnessed a drop in sales volume for the second consecutive week, with 86 sales (down from 139 confirmed in the previous period). Much of the new supply remains very concentrated in the downtown core areas; excluding Yaletown, which along with False Creek North, has a lack of supply in the $450,000 - $600,000 price bracket. We expect the slowdown to continue through August prior to the regular seasonal market perk ups in Septemper and October.
Listing versus Sales update for August 4th to August 10th
152 new listings in the Vancouver West Region with 84(55%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).
New Listings Per Sub-Area:
- Downtown Core: 53 (63%)
- Coal Harbour: 9 (11%)
- West End: 13 (15%)
- False Creek North: 9 (11%)
TOTAL : 84 (55%)
86 total sales in the Vancouver West Region with 42 (49%) falling in the downtown areas.
Sales Per Sub-Area:
- Downtown Core: 23 (54%)
- West End: 7 (17%)
- Coal Harbour: 7 (17%)
- False Creek North: 5 (12%)
TOTAL : 81
We saw a slight recovery in new listing activity this past week after a severe drop-off the week before as we entered the seasonal slow period marked by the onset of August, and late-summer. Sales volume dipped notably in all neighbourhoods, moving from 139 sales to 86 attached sales. Stock-markets sagged slightly on lower base metal and commodity prices to begin this week after strong performances to end the previous period. The drop in late-summer sales transactions altered our listing to sales ratio; [86 : 152] ’sales to listings’ or 57% saturation – interest rates looks to remain stable through the next quarter despite the recent inflation in Canadian Dollar value.
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!
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