Westside Vancouver Attached Property Market Update : March 1 - March 8
We would like to present our ‘Westside Attached Stat Package‘ for the period running from March 1 - March 8. If you have any further questions or require more detail please get in touch with us.
Post-Olympic
supply numbers continued to climb upwards as we witnessed an increase
in available attached product across the Westside, with especially
strong showings in Kitsilano (with 32 new attached listings) and Fairview (with 31 new attached listings). We saw 290 new attached listings across all of Vancouver West with the Westside neighbourhoods accounting for 111 new attached listings or roughly 38% of all new attached supply.
Confirmed sales transactions, however; continued to trend downward
as the Olympic-lag period comes into full effect. We expect 60-90 days
of a supply dominated market as buyers educate themselves on the
post-Games dynamic and realize the effects of the upcoming HST merger,
new Federal mortgage restrictions, and probable upcoming interest rate
increases. We saw just 81 sales over all of Vancouver West this past week with 42 of those falling on the Westside
(accounting for a relatively strong 52% of confirmed sales). The
supply-demand dynamic on the Westside remains healthier then the
downtown markets as we saw 42 sales on the Westside to 111 new attached
listings for a saturation rate of roughly 39% on average. High-volume
areas like Kitsilano and Fairview will see the greatest effects with
the lower volume areas remaining closer to par market sales to listing
relationships.
The 111 (38%) new active attached listings on the Westside were distributed as follows:
University (UL) : 14
S.W. Marine (SW) : 1
Southlands (SL) : 1
South Cambie (SC) : 2
Quilchena (QU) : 2
Point Grey (PG) : 3
Oakridge (OA) : 3
Marpole (MR) : 6
Mount Pleasant (MP) : 3
Kitsilano (KT): 32
Kerrisdale (KE) : 3
False Creek (FC) : 3
Fairview (FA) : 31
Dunbar (DU) : 4
Cambie (CA) : 3
The Westisde neighbourhoods accounted for 111 : 290 or 38% of overall Vancouver West attached new listings from March 1 - March 8.
This past week there were 81 sold attached listings in the Vancouver West Region with 42 (52%) falling in the Westside neighbourhoods. Please note if your neighbourhood is not included in the weekly list it indicates there were zero (0) sales in your area for that period.
The 42 sold attached listings on the Westside were distributed as follows:
University (UL) : 7
Quilchena (QU) : 2
Point Grey (PG) : 1
Oakridge (OA) : 4
Marpole (MR) : 2
Kitsilano (KT) : 7
Kerrisdale (KE) : 2
False Creek (FC) : 2
Fairview (FA) : 13
Cambie (CA) : 2
The Westside neighbourhoods accounted for 42 : 81 or 52% of overall Vancouver West attached solds from March 1 - March 8.
If you are interested in more detailed breakdowns of sales versus listing ratios for your area please do not hesitate to get in touch with us! And remember to visit http://www.susankeevil.com and http://www.vancouverrealtyonline.com for even more real estate updates and info!