Westside Vancouver Detached Property Market Update : January 4 - January 11
We would like to present ‘Westside Detached Stat Package’ for the week of January 4th - January 11th.
New listing supply in the Westside attached market continued to remain relatively stable with 43 new detached listings; quite comparable to the numbers we were seeing in the pre-holiday / post-recession market. Supply remained quite low in the face of active demand in the Kitsilano, Arbutus, Dunbar, and Cambie neighbourhoods as we continue to see equilibrium sale versus listing (1:1) ratios in those areas. Sales volume fell slightly from what we've come to identify as the 'norm' in the post-recession market (at approximately 30-40 sales per week), as we saw 22 confirmed detached transaction. The fall can partially be attributed to a lack of supply in specific neighbourhoods where multiple offer situations have again become a regular occurence. Our listing to sales ratio demonstrated a continued 'holiday lag' on the sales side with new listing supply jumping backup to normal levels, with [22 : 43] sales to listing ratio as our ratio; posting approximately 2.00 sales to every new listings. It remains important to keep in mind the distribution of the listings, however; as there remains pent up demand in many detached markets on the Westside.
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 43 new detached active listings on the Westside were distributed as follows:
Arbutus (AR) : 3
Cambie (CA) : 3
Dunbar (DU) : 3
Kerrisdale (KE) : 2
Kitsilano (KT) : 2
Marpole (MR) : 2
Point Grey (PG) : 5
Quilchena (QU) : 2
South Granville (SG) : 10
Shaughnessy (SH) : 6
Southlands (SL) : 1
S.W. Marine (SW) : 2
University (UL) : 1
43 total new detached listings on the Westside from January 4 - January 11.
This past week there were 22 detached sold listings 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 22 detached sold listings on the Westside were distributed as follows:
Arbutus (AR) : 3
Cambie (CA) : 3
Dunbar (DU) : 1
Kerrisdale (KE) : 1
Marpole (MR) : 3
Oakridge (OA) : 2
Point Grey (PG) : 1
Quilchena (QU) : 1
South Cambie (SC) : 1
South Granville (SG) : 3
Shaughnessy (SH): 2
S.W. Marine (SW) : 2
22 total detached sales on the Westside from January 4 - January 11.
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!