We have compiled sales and listings statistics for the period running from August 24th to August 31st, 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 market experienced a late-Summer setback as both sales and listing volume fell for the second straight week. Vancouver West as a whole saw 195 new attached listings; down marginally from the 206 new listings submitted last week. Sales volume also experienced another marginal set-back, with 144 sales (down from 177 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 modest conditions to continue through August prior to the regular increase in market activity in September and October. After a relative drop in both downtown listing, and sales activity in early August we've seen a rebound back to levels similar to our record-setting July.
Listing versus Sales update for August 24th to August 31st
195 new listings in the Vancouver West Region with 104 (53%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).
New Listings Per Sub-Area:
- Downtown Core: 58 (57%)
- Coal Harbour: 13 (12%)
- West End: 21 (20%)
- False Creek North: 12 (11%)
TOTAL : 104 (53%)
144 total sales in the Vancouver West Region with 79 (55%) falling in the downtown areas.
Sales Per Sub-Area:
- Downtown Core: 39 (49%)
- West End: 14 (18%)
- Coal Harbour: 12 (15%)
- False Creek North: 14 (18%)
TOTAL : 79 (55%)
The market experienced a decrease in both listing and sales volume for the second straight week as we ended August with a slight downturn. The downtown markets took a slightly lower percentage of the Vancouver West market share; with 48% of new listings falling in the downtown neighbourhoods, with 55% of the firm sales transactions also falling downtown. The surge in activity has brought our listing to sales ratio back to near par; with [144 : 195] ’sales to listings’ or 74% 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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