Susan Keevil

We have compiled sales and listings statistics for the period running from January 3rd through January 10th, 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.

Happy New Year!  Not surprisingly we've seen a notable jump in the post-holiday listing period this past week as sellers get back into the swing of the market after taking some time off for the holidays. We saw 154 new attached listings across Vancouver West this week (after from 80 new attached listings in our previous recorded period) with 77 new attached listings or roughly 50% falling in the downtown neighbourhoods (up from 47 new attached listings or 57% in the previous recorded period).  The high-density downtown core neighbourhoods (including Yaletown, Gastown, and downtown proper) continued to account for the largest percentage of new listing activity with 30 new attached listings this week (up from 20 new attached listings in the week prior to the Christmas holidays). Coal Harbour and False Creek North also saw a jump in listing activity with 17 and 13 new listings in each area respectively. The holiday season tends to be a somewhat hit-or-miss with some years being quite active well other years (like 2010) are a bit slower with many people chosing to take some time off and decompress (especially with what a hectic year we had in 2010!).

We're also not surprised to subsequently see a quite steep fall in confirmed sales volume in our first week following the Christmas holidays as supply had decreased at such a rate that many buyers were also forced to take the holidays off even if they preferred otherwise.  With new listing supply slowing to a crawl over the holidays we'll need to wait for the new supply to affect the market prior to seeing a jump in confirmed sales volume as more product becomes available to our busy buyers. We saw 43 confirmed attached sales across Vancouver West this week (down from 80 confirmed attached sales in the previous recorded period) with 24 confirmed attached sales or roughly 56% falling in the downtown neighbourhoods.  The downtown core neighbourhoods (including Yaletown, Gastown, and downtown proper) and Coal Harbour accounted for the two highest amount of confirmed sales this past week with 11 confirmed attached sales in the downtown proper and 5 confirmed attached sales in Coal Harbour.  As mentioned, our sales to listing ratio was tilted towards buyers this week as new listing supply rushed to meet the post-holiday season and sellers lept to meet he opportunities offered by a supply shortage in late-December.  We saw 24 confirmed attached sales to 77 new attached listings across downtown, which represents a 31% saturation rating.

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 January 3rd - January 10th

154 new listings in the Vancouver West Region with 77 (50%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 30 (39%)
• Coal Harbour: 17 (22%)
• West End: 17 (22%)
• False Creek North: 13 (17%)

TOTAL : 77 (50%)

43 total sales in the Vancouver West Region with 24 (56%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 11 (46%)
• West End: 4 (17%)
• Coal Harbour: 5 (20%)
• False Creek North: 4 (17%)

TOTAL : 24 (56%)

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.