We have compiled sales and listings statistics for the period running from June 15th to June 22nd, 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. This past week (and the month of May in general) was marked by an increase in market activity (both listings and sales) as well as a further demonstration of market stability and equilibrium; with 191 new listings (down slightly from 207 new listings the previous week), and 217 attached sales. US and foreign buyer activity has been increasing recently as we have been working with numerous buyers out of California, Florida, and China with more coming in daily interested in Canada’s insulated banking system, competitive financing options, and relatively low Vancouver prices. Many lenders and mortgage specialists have been predicting (quite rightly) a forthcoming increase in lending rates as our economy begins its recovery. As expected we will most likely see the typical seasonal lull that occurs through July and August prior to the market picking itself up again in the early fall months.
Listing versus Sales update for June 15th – June 22nd
191 new listings in the Vancouver West Region with 111 (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: 55 (49%)
- Coal Harbour: 15 (14%)
- West End: 23 (21%)
- False Creek North: 18 (16%)
TOTAL : 111
217 total sales in the Vancouver West Region with 107 (49%) falling in the downtown areas.
Sales Per Sub-Area:
- Downtown Core: 58 (54%)
- West End: 23 (22%)
- Coal Harbour: 13 (12%)
- False Creek North: 13 (12%)
TOTAL : 107
Sales volume showed renewed vigor and stability this past week, moving from 157 sales to 217. In contrast we saw a slight dip in regards to attached supply; though this was more acute on the Westside then in the downtown markets. We expect stronger sales movement to continue through early-Summer prior to some light seasonal lulls. As stated previously there has been an influx of buyer activity over the past two months, 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 [217 : 191] ’sales to listings’ or 114% saturation – stronger market fundamentals, a return to supply / demand equilibrium, and an influx of buyer activity has been leading our recovery period!
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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