We have compiled sales and listings statistics for the period running from August 10th to August 17th, 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 continued an unexpected late-summer rebound as we witnessed renewed strength in both transaction volume and new listing supply in the downtown neighbourhoods. Vancouver West as a whole saw 216 new attached listings; a marked increase from the 152 new listings submitted last week. Sales volume also experienced a late-Summer surge, with 115 sales (up from 86 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.
Listing versus Sales update for August 10th to August 17th
216 new listings in the Vancouver West Region with 133 (62%) falling in the downtown areas (including:West End, Downtown, Coal Harbour, and False Creek North sub-areas).
New Listings Per Sub-Area:
- Downtown Core: 65 (48%)
- Coal Harbour: 20 (15%)
- West End: 26 (20%)
- False Creek North: 22 (17%)
TOTAL : 133 (62%)
220 total sales in the Vancouver West Region with 115 (52%) falling in the downtown areas.
Sales Per Sub-Area:
- Downtown Core: 78 (68%)
- West End: 18 (16%)
- Coal Harbour: 13 (11%)
- False Creek North: 6 (5%)
TOTAL : 115 (52%)
As mentioned the market continued to recover after struggling through the final week of July, and early August prior to posting gains in both transaction volume and supply in the past two weeks. Sales volume rose notably in all neighbourhoods, moving from 86 sales to 115 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 surge in activity has brought our listing to sales ratio back to near par; with [220 : 216] ’sales to listings’ or 101% 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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