Downtown Vancouver Attached Property Market Update : April 4th - April 11th
We have compiled sales and listings statistics for the period running
from April 4th through April 11th,
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.
Overall attached supply trended downwards across Vancouver West this week as we saw 237 new attached listings (down from the 286 attached listings we saw previously); with the downtown neighbourhoods accounting for 124 new attached listings (down from 154 attached listings) or roughly 52% of overall attached supply. The downtown neighbourhoods saw a 2% fall in the ratio of new attached supply (down from 54%), though the downtown core remained relatively steady with 75 new attached listings (a decrease from the 80 new attached listings we saw previously). False Creek North and Coal Harbour represented the bulk of the supply decreases downtown as we saw 13 new attached listings in Coal Harbour (down from 20 new attached listings), and just 8 new attached listings in False Creek North this week (down from 16 new attached listings). Downtown supply has fluctuated somewhat through March, though we saw a mean quantity of approximately 132 new attached listings per week.
Downtown sales volumes took a rather large step backwards this week after posting near record Q1 gains through the previous period; we saw 74 confirmed attached sales this week (down from 100 confirmed attached sales), which accounted for 51% of the aggregate 146 confirmed attached sales across Vancouver West (a fall from the 59% sales ratio we saw previously). The dense downtown core neighbourhoods continued to post the largest sales numbers with 43 confirmed attached sales (though declined from the 52 confirmed attached sales we saw previously); well False Creek North and Coal Harbour also fell back this week with 9 confirmed sales in False Creek North (down from 17 confirmed attached sales), and 6 confirmed attached sales in Coal Harbour (a large step dow nfrom the 17 confirmed attached sales we saw last week). Our unweighted sales-to-listing ratio remained tilted towards the supply side with 74 confirmed attached sales to 124 new attached listings for a saturation rating of approximately 60% downtown (down from the 66% we saw previously).
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 April 4th - April 11th
237
new listings in the Vancouver West Region with 124 (52%)
falling in the downtown areas (including: West End, Downtown,
Coal
Harbour, and False
Creek North sub-areas).
New Listings Per Sub-Area:
- Downtown Core: 75 (60%)
- Coal Harbour: 13 (11%)
- West End: 28 (23%)
- False Creek North: 8 (6%)
TOTAL : 124 (52%)
146 total sales in the Vancouver West Region with 74 (51%) falling in the downtown areas.
Sales Per Sub-Area:
- Downtown Core: 43 (58%)
- West End: 16 (22%)
- Coal Harbour: 6 (8%)
- False Creek North: 9 (12%)
TOTAL : 74 (51%)
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.