Downtown Vancouver Attached Property Market Update : January 18 - January 25
We have compiled sales and listings statistics for the period running from January 18th to January 25th, 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 supply continued to trend upwards for the third consecutive week as we saw 273 new attached listings across Vancouver West (an increase over the 238 new listings in the previous period). The downtown markets accounted for only approximately 46% of this increase, however; with the Westside markets demonstrating a slightly higher degree of new listing growth; downtown we saw 153 new attached listings (compared to 137 in the previous week). The downtown core remained relatively stable with 78 new attached listings; compared to 77 in the previous period, whereas Coal Harbour and the West End demonstrated further supply growth over the previous weeks numbers. The downtown markets as a whole maintained a stable portion of overall new attached listing supply with 153 new attached listings or 56% of overall new supply. Buyer demand remained especially active in the entry level two-bedroom market where prices range from $450,000 up to $600,000; anything entry level in the Yaletown or False Creek North neighbourhoods with 800+ square feet listed at under $600,000 should sell particularly quickly assuming a desirable development and location.
Listing versus Sales update for January 18th - January 25th
273 new listings in the Vancouver West Region with 153 (56%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).
New Listings Per Sub-Area:
- Downtown Core: 77 (50%)
- Coal Harbour: 22 (14%)
- West End: 36 (24%)
- False Creek North: 18 (12%)
TOTAL : 153 (56%)
83 total sales in the Vancouver West Region with 58 (70%) falling in the downtown areas.
Sales Per Sub-Area:
- Downtown Core: 35 (60%)
- West End: 10 (17%)
- Coal Harbour: 5 (9%)
- False Creek North: 8 (14%)
TOTAL : 58 (70%)
Sales numbers finally began a slight recovery this past week, and trended upwards notably for the first time since the Christmas holidays. This past week we saw 83 confirmed sales in Vancouver West, with 58 sales or 70% falling in the downtown neighbourhoods. This was nearly a 50% increase over the 37 confirmed sales in the previous period as low interest rates and lack of supply in current areas continued to drive buyer demand.
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!