Westside Vancouver Attached Property Market Update : January 3rd - January 10th
We would like to present our ‘Westside Attached Stat Package‘
for the period running from January 3rd - January 10th. If
you
have
any
further questions or require more detail please get in touch with us.
We saw similar market trends across Vancouver West this week (both downtown and on the westside) as the traditionally busy listing period following the holidays saw a plethora of new supply options for buyers. We saw 154 new attached listings across Vancouver West this week with 77 new attached listings or roughly 50% of them falling in the Westside neighbourhoods. The high-density and traditionally busy neighbourhoods of Kitsilano and Fairview continued to lead the way on the supply side with 20 and 21 new attached listings in each neighbourhood respectively. The University neighbourhood also came out of the gate strong with 12 new attached listings this week. Due to a dearth of supply on the Westside during mid-to-late December many buyers (and sellers) decided to take the holiday periods off, so it is not surprising to see an early-January surge in listing activity as people get back to business.
Confirmed sales volume on the Westside remained low through late-December and has continued to be modest to start January; as mentioned there was a real supply shortage in attached property across the Westside from mid-to-late December so much of the fall in confirmed sales volume can be attributed to a lack of supply and subsequent options for interested buyers. As such, many people chose to take the holiday period off, and due to the fact we need around a 2 week period for new supply to saturate the market we can predict a modest start for sales in early-January. We saw 43 confirmed attached sales across Vancouver West this week (down from 80 confirmed attached sales in the previous period) with the Westside neighbourhoods accounting for 19 confirmed attached sales or roughly 44% of all attached sales volume across Vancouver West. Kitsilano and Fairview again led the way in regards to sales with 6 and 4 confirmed attached sales in each neighbourhood respectively. Our sales to listing ratio thus unsurprisingly tilted towards buyers this week with a lot more new supply then confirmed sales volume as we saw 77 new attached listings to 19 confirmed attached sales across the Westside, which represents a modest 25% saturation rating through this past week.
The 77
(50%) new active attached listings
on the Westside were distributed as follows:
University (UL) : 12
S.W. Marine (SW) : 2
Shaughnessy (SH) : 1
South Granville (SG) : 1
Southlands (SL) : 1
Quilchena
(QU)
: 1
Point Grey (PG) : 1
Oakridge (OA) : 1
Marpole (MR) : 3
Mount Pleasant
(MP) : 2
Kitsilano (KT): 20
Kerrisdale (KE) : 5
False Creek (FC)
:3
Fairview (FA) : 21
Cambie
(CA) : 2
The Westisde neighbourhoods accounted for 77 : 154 or 50% of
overall Vancouver West attached new listings from January 3rd - January 10th.
This past week there were 43 sold attached listings in the Vancouver West Region with 19 (44%) falling in the Westside neighbourhoods. 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 19 sold attached listings on the Westside were distributed as follows:
University (UL) : 1
Quilchena
(QU) : 3
Point Grey (PG) : 1
Marpole (MR) : 2
Mount Pleasant (MP) : 1
Kitsilano
(KT) : 6
Kerrisdale (KE) : 1
Fairview (FA) : 4
The Westside
neighbourhoods
accounted for 19 : 43 or 44% of
overall Vancouver West attached solds from January 3rd - January 10th.
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!