Westside Vancouver Detached Property Market Update : August 17th – August 24th
We would like to present ‘Westside Detached Stat Package’ for the week of August 17th – August 24th.
The Westside detached market continued to improve for the second consecutive week as both transaction volume and listing figures demonstrated marked improvement. Sales transaction volume experienced a slight lag after posting great numbers the previous week, well new listing supply continued to remain relatively strong. New listings moved from 67 new detached active listings in the Vancouver West Region to 71. Sales volume posted a slight decrese this past week with 58 detached sales (to 73 the previous week). Not surprisingly, performance should remain relatively static through third quarter 2009 prior to a pre-Olympic surge in the late fourth quarter flowing into Q1 2010. Buyer competition remains active in these areas, and thus it may be a solid time to consider listing your home if you have been thinking about proceeding with a sale. The demand is especially acute in Kitsilano where supply has definitely tailed off – especially in the Kits Point areas, and other sectors north of W 4th Ave. Late summer tends to be a rather ‘down time’ for our detached markets due to family vacations, and relativly instability prior to the onset of the school year in September.
Please note if your neighbourhood is not included in the weekly list it indicates there were zero (0) new listings in your area for that period.
The 71 new detached active listings on the Westside were distributed as follows:
Arbutus (AR) : 6
Cambie (CA) : 1
Dunbar (DU) : 11
Kerrisdale (KE) : 6
Kitsilano (KT) : 3
MacKenzie Heights (MH) : 9
Marpole (MR) : 5
Point Grey (PG) : 10
Quilchena (QU) : 1
Shaughnessy (SH) : 5
Southlands (SL) : 1
South Cambie (SC) : 2
South Granville (SG) : 6
S.W. Marine (SW) : 2
University (UL) : 3
71 total new detached listings on the Westside from August 17th – August 24th.
This past week there were 58 detached sold listings (a slight decrease compared to the 73 sold listings the previous week) in the Vancouver West Region. 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 58 detached sold listings on the Westside were distributed as follows:
Arbutus (AR) : 6
Cambie (CA) : 3
Dunbar (DU) : 3
Fairview (FA) : 1
Kerrisdale (KE) : 11
Kitsilano (KT) : 4
Mackenzie Heights (MH) : 2
Marpole (MR) : 6
Oakridge (OA) : 1
Point Grey (PG) : 3
South Granville (SG) : 10
Shaughnessy (SH) : 1
Southlands (SL) : 2
S.W. Marine (SW) : 1
University (UL) : 4
58 total detached sales on the Westside from August 17th – August 24th.
The Westside detached market continued to post what we've established as 2009 'norms' through late August; which is moderately surprising given the usual seasonal lulls as well as the stunted recession-based recent recovery. The mid-to-late Summer months tend to be particularly low-periods for the detached markets due to social factors (ie / summer vacation, etc.) and thus we anticipate a relatively stable market through October prior to a resurgence in the Fall which should carry us through Quarter 4 2009 and the 2010 Winter Olympic Games.
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!
Westside resident? Check out http://www.kitsilanoshomes.com for information, and news specific to your neighbourhood!