Susan Keevil

We have compiled sales and listings statistics for the period running from March 1st through March 8th, 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 numbers continued to demonstrate notable post-Olympic growth as we saw an increase in attached new listings for the second consecutive week following the closing of the 2010 Winter Olympic Games.  As we have predicted, the availability of product has increased at a great rate following the Games; eary Spring periods are traditionally busy listing periods for our markets, and the regular early March listing surge is being helped along by those Sellers who were waiting for the end of the Olympics to list property as well as the large number of short-term rentals occupied over the Games now moving towards vacany.  This past week we saw 290 new attached listings across Vancouver West (moving towards a high point for first quarter 2010), an increase from the 189 new attachd listings we saw in the previous week.   The downtown core remained a supply leader with 95 new attached listings over the period, with False Creek North posting relatively high numbers as well with 32 new attached listings.  As a whole the downtown neighbourhoods account for 179 new attached listings or roughly 62% of all new listing supply across Vancouver West. 


Along with our supply-increase predictions we've been looking at a slight slow-down in demand on the buyer side since approximately the first week of February.  After a busy end to 2009, and a strong start to 2010 we've seen buyers take a bit of a step back to survey the market.  Not surprisingly, the Olympics were not a strong period for sales volumes (despite recent reports in mainstream media outlets regarding gross property value sales being strong); we saw an approximately 50% drop from regular sales levels for the first week following the Olympic games, and confirmed transaction volume fell again (though much less drastically) for the second consecutive week.  This past period we saw just 81 confirmed attached sales across all of Vancouver West; with 39 attached sales or roughly 48% of those falling in the downtown neighbourhoods (this was down from 90 confirmed sales in the first week following the Games).  The supply-demand dynamic was particularly skewed in the downtown core markets where we witnessed just 21 confirmed sales to offset the 95 new attached listings over the past week;  False Creek North also saw a large advantage on the supply side with 32 new attached listings to only 4 sales over the same period.  With the recent positive news regarding Canadian GDP, whispers remain that interest rates may be on the rise in the near future; combine that with the new Federal mortgage regulations and upcoming HST, and we should see heightened buyer activity over the next quarter to combat the recent surge in supply numbers.  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 March 1 - March 8

290 new listings in the Vancouver West Region with 179 (62%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 95 (52%)
• Coal Harbour: 26 (15%)
• West End: 26 (15%)
• False Creek North: 32 (18%)

TOTAL : 179 (62%)

81 total sales in the Vancouver West Region with 39 (48%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 21 (54%)
• West End: 11 (28%)
• Coal Harbour: 3 (8%)
• False Creek North: 4 (10%)

TOTAL : 39 (48%)

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.

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!