Downtown Vancouver Attached Property Market Update : August 23rd - August 30th
We have compiled sales and listings statistics for the period running
from August 23rd through August 30th,
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.
Supply conditions trended downwards this past week as new listings adjusted to meet lower-then-average demand through the last two weeks of August. This past week we saw 146 new attached listings across Vancouver West (down from 166 new attached listings in the previous week). The downtown neighbourhoods accounted for the majority of the supply decrease with 86 new attached listings (down from 108 new attached listings in the previous week). The downtown core continued to be the most prolific listing neighbourhood due to density with 53 new attached listings, well False Creek North saw listing activity fall by 50% down to 8 new attached listings. Coal Harbour remained relatively static with 12 new attached listings (when compared to 11 new attached listings last week).
Along with a decrease in supply we saw confirmed sales transactions rebound this week after trending downwards for two consecutive weeks. There were 91 confirmed attached transactions across Vancouver West this week (up from 74 confirmed attached sales in the previous period); the downtown markets posted stronger sales figures with 49 confirmed attached sales (up from 38 confirmed sales in the previous period) with the downtown core neighbourhoods posting the strongest sales results with 27 confirmed attached sales, well Coal Harbour continued to struggle on the sales side with just 3 confirmed attached sales this past week. Our sales to listing ratio strengthened in this period with 49 confirmed sales to 86 new attached listings or roughly a 57% saturation rate (up from 35% in the previous week).
If you're
interested in more specific building or neighbourhood sales
and listing information please get in touch with Susan at (604)970-3658.
Listing
versus Sales update for August 23rd - August 30th
146
new listings in the Vancouver West Region with 86 (59%)
falling in the downtown areas (including: West End, Downtown,
Coal
Harbour, and False
Creek North sub-areas).
New Listings Per Sub-Area:
- Downtown Core: 53 (62%)
- Coal Harbour: 12 (14%)
- West End: 13 (15%)
- False Creek North: 8 (9%)
TOTAL : 86 (59%)
91 total sales in the Vancouver West Region with 49 (54%) falling in the downtown areas.
Sales Per Sub-Area:
- Downtown Core: 27 (55%)
- West End: 10 (20%)
- Coal Harbour: 3 (6%)
- False Creek North: 9 (18%)
TOTAL : 49 (54%)
Due to the wide variety of
product available
downtown it remains important to look at micro-trending in your
building and neighbourhood when considering buying or selling; for more
detailed information please give Susan a call at (604)970-3658.