Westside Vancouver Detached Property Market Update : February 2 - February 9
We would like to present ‘Westside Detached Stat Package’ for the week of February 2 - February 9.
Westside detached supply lagged slightly this past week after posting two consecutive weeks of positive growth; we saw 79 new detached listings on the Westside (down a bit from the 84 new listings in the previous period). Dunbar again posted the strongest supply numbers with 12 new detached listings this week with Point Grey jumping in with 12 new detached listings as well. The supply-side continued to loosen in high-demand areas like Dunbar and Point Grey well neighbourhoods like Kitsilano and Mackenzie Heights remained quite stable. The higher supply numbers have resulted in less multiple offer situations as buyers have a greater degree of leverage.
Confirmed detached sales numbers improved marginally for the second consecutive week, as we witnessed 39 confirmed detached sales this period (up slightly from 37 in the previos week). Both Dunbar and Point Grey posted weaker numbers this week, however; as both areas may be suffering a little bit from price increases combined with a few consecutive weeks of improving supply conditions. Kitsilano and South Granville both posted a sales jump and proceeded to grab a greater portion of the Westside sales share.
Demand continues to be strong, though supply conditions have loosened over the past three weeks, and multiple offer situations have become more rare. If the trend continues we should see a relative 'price flattening' in previously 'hot' neighbourhoods, with a possibility of higher average days on the market figures. The early-Spring period often brings supply balance to the market as it has traditionally been a popular time to list.
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 79 new detached active listings on the Westside were distributed as follows:
Arbutus (AR) : 5
Cambie (CA) : 3
Dunbar (DU) : 12
Fairview (FA) : 1
Kerrisdale (KE) : 5
Kitsilano (KT) : 8
Mackenzie Heights (MH) : 5
Mount Pleasant (MP) : 1
Marpole (MR) : 5
Oakridge (OA) : 3
Point Grey (PG) : 12
Quilchena (QU) : 2
South Cambie (SC) : 9
South Granville (SG) : 9
Shaughnessy (SH) : 3
Southlands (SL) : 2
S.W. Marine (SW) : 1
University (UL) : 2
79 total new detached listings on the Westside from February 2 - February 9.
This past week there were 39 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 39 detached sold listings on the Westside were distributed as follows:
Arbutus (AR) : 4
Cambie (CA) : 4
Dunbar (DU) : 4
Kerrisdale (KE) : 2
Kitsilano (KT) : 8
Marpole (MR) : 2
Oakridge (OA) : 2
Point Grey (PG) : 3
Quilchena (QU) : 1
South Granville (SG) : 5
Shaughnessy (SH): 2
Southlands (SL) : 1
S.W. Marine (SW) : 1
39 total detached sales on the Westside from February 2 - February 9.
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!