Downtown Vancouver Attached Property Market Update : January 25 - February 2
We have compiled sales and listings statistics for the period running from January 25th to February 2nd, 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. New listing numbers tailed off this past week after posting positive numbers in the two previous periods; we saw 213 new attached listings in Vancouver West this past week (compared to 273 in the previous week). The downtown neighbourhood continued to account for just over half of the new listing supply with 114 new attached listings (down from 153 in the previous week) or 54% of total new attached supply over Vancouver West. The downtown core neighbourhoods once again represented the 'lions share' of new attached listings with 63 new attached listings or 55% of all downtown attached listing supply. Coal Harbour, the West End, and False Creek North provided the remainer of new supply with 17 new attached listings in each neighbourhood or roughly 15% of new downtown supply. Entry-level one and two bedrooms remained 'in demand' throughout downtown with specific developments and areas experiencing more acute demand; get in touch with us for more specifics on how our supply and demand dynamic is affecting your neighbourhood or building.
Listing versus Sales update for January 25th - February 2
213 new listings in the Vancouver West Region with 114 (54%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).
New Listings Per Sub-Area:
- Downtown Core: 63 (55%)
- Coal Harbour: 17 (15%)
- West End: 17 (15%)
- False Creek North: 17 (15%)
TOTAL : 114 (54%)
139 total sales in the Vancouver West Region with 91 (64%) falling in the downtown areas.
Sales Per Sub-Area:
- Downtown Core: 53 (58%)
- West End: 20 (22%)
- Coal Harbour: 8 (9%)
- False Creek North: 10 (11%)
TOTAL : 91 (64%)
Confirmed sales transactions continued to trend upwards for the third consecutive week with 139 sales over Vancouver West (up from 83 sales); downtown saw a slight drop in its share of sales despite an overall increase in volume, posting 91 confirmed sales or 64% of all sales volume over Vancouver West (down from 70% in the previous period). This marks another strong increase in sales volume though new supply continued to outpace sales as our sales to listing ratio sat at 139 : 213 or a 65% saturation rate over the week. Again, despite stronger numbers it remains important to break our statistics down by area and building as some areas of downtown continue to demonstrate stronger demand patterns then others; for specifics on your neighbourhood or development please get in touch with Susan at 604.970.3658.
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!