Susan Keevil

We have compiled sales and listings statistics for the period running from March 21st through March 28th, 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.

Downtown attached supply posted positive gains this week after taking a step backwards previously; we saw 154 new attached listings across the downtown neighbrouhoods this week (up from the 137 new attached listings last week), which equated to roughly 54% of aggregate attached listing supply across Vancouver West (a roughly stable ratio when compared to the 55% we saw previously).  The high-density downtown core neighbourhoods (which also have a larger geographical area and span) continued to account for the bulk of the listing supply (neighbourhoods include Yaletown, Gastown, and downtown proper) as the area accounted for 80 new attached listings or approximately 52% of overall downtown supply.  Coal Harbour continued to post moderate gains in the supply column with 20 new attached listings this week (after posting 16 new attached listings in each of the previous two listing periods).  False Creek North has remained quite stable through first quarter 2011, and continued again this week to post well within it's average supply volume with 16 new attached listings (down slightly from the 18 new attached listings we saw previously).  Overall, downtown supply has picked up since we saw a moderating shortage through the Christmas holidays and the first three weeks of January.

Downtown attached sales volume posted signficant gains this week after struggling to demonstrate upward mobility through much of Q1 2011; we saw 102 confirmed attached sales downtown this week (up from 68 confirmed attached sales last week), which accounted for 59% of all attached sales activity across Vancouver West (a notable ratio gain from the 49% we saw previously).  Unsurprisingly, the dense downtown core areas (Yaletown, Gastown, and downtown proper) led the way again on the sales-side with 52 confirmed attached sales (up from 35 new attached sales in the neighbourhoods last week), which accounted for 50% of overall sales volume downtown.  Coal Harbour rebounded back to double-digits this week with 17 confirmed attached sales (up from 9 confirmed attached listings previously).  False Creek North remained within the average ranges we've come to expect with another 17 confirmed attached sales this week.  Our sales to listing ratio improved quite drastically this week after posting quite low numbers previously, as we saw 102 confirmed attached sales to 154 new attached listings for a saturation rating of 66% (up from the 50% we saw last week), as the downtown markets moved closer to macro-equilibrium market conditions this week.

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 21st - March 28th

286 new listings in the Vancouver West Region with 154 (54%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

• Downtown Core: 80 (52%)
• Coal Harbour: 20 (13%)
• West End: 37 (24%)
• False Creek North: 17 (11%)

TOTAL : 154 (54%)

174 total sales in the Vancouver West Region with 102 (59%) falling in the downtown areas.

Sales Per Sub-Area:

• Downtown Core: 52 (50%)
• West End: 16 (16%)
• Coal Harbour: 17 (17%)
• False Creek North: 17 (17%)

TOTAL : 102 (59%)

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.