Westside Vancouver Attached Property Market Update : March 1st - March 8th
We would like to present our ‘Westside Attached Stat Package‘
for the period running from March 1st - March 8th. If
you
have
any
further questions or require more detail please get in touch with us.
Westside attached supply figures trended downwards this week after improving in the previous period; we saw 104 new attached listings across the Westside neighbourhoods (down from 124 new attached listings previously), which accounted for 37% of the overall 281 new attached listings across Vancouver West (down from 49% last week). Supply conditions have been much more restrained across the Westside when compared with the downtown neighbourhoods as market conditions remain much closer to equilibrium with most neighbourhoods posting successful sales and relatively short 'days on the market' periods. The high-density Kitsilano and Fairview areas continued to lead the way with 22 new attached listings in Kitsilano and 21 new attached listings in Fairview. These two neighbourhoods have also remained popular amongst buyers with healthy sales figures and continued demand. University also remains quite active as we move towards Summer holidays and the inevitable exodus of various students from the condo developments around UBC, we saw 21 new attached listings in the University neighbourhood this week.
Westside attached sales figures continued to improve this week as we saw 89 confirmed attached sales (up from 69 confirmed attached sales last week), which accounted for 54% of the aggregate 165 confirmed attached sales across Vancouver West. The Westside has been equaling downtown sales activity the past few weeks, and has now moved to take the majority for the first time during 2011. The popular Fairview and Kitsilano neighbourhoods remained very popular with buyers as both posted sales to listing figures close to equilibrium (wherein most units listed for sale are sold and absorbed into the market quite quickly), as we saw 26 confirmed attached sales in Kitsilano this week, and 22 confirmed attached sales in Fairview. University also remained quite active on the sales side with 10 confirmed attached sales this week, well the remaining Westside neighbourhoods posted sales figures in the single digits. Our posted sales to listing ratio demonstrated a very healthy attached market on the Westside this past week, as we saw 89 confirmed attached sales to 104 new attached listings for a saturation rating of 85% across the Wetside (up from 56% last week).
The 104
(37%) new active attached listings
on the Westside were distributed as follows:
University (UL) : 21
S.W. Marine (SW) : 1
South
Cambie (SC) : 2
Southlands (SL) : 1
Shaughnessy (SH)
: 2
Quilchena
(QU)
: 1
Point Grey (PG) : 6
Oakridge (OA) : 2
Marpole
(MR) : 7
Mount Pleasant
(MP) : 3
Kitsilano (KT): 22
Kerrisdale (KE) : 4
False Creek (FC)
: 7
Fairview (FA) : 21
Dunbar (DU) : 1
Cambie
(CA) : 3
The Westisde neighbourhoods accounted for 104 : 281 or 37% of
overall Vancouver West attached new listings from March 1st - March 8th.
This past week there were 165 sold attached listings in the Vancouver West Region with 89 (54%) 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 89 sold attached listings on the Westside were distributed as follows:
University (UL) : 10
S.W. Marine (SW) : 1
South
Cambie (SC) : 1
South Granville (SG) : 1
Quilchena
(QU) : 2
Point Grey (PG) : 2
Oakridge (OA) : 1
Marpole (MR) : 4
Mount
Pleasant (MP) : 1
Kitsilano
(KT) : 26
Kerrisdale (KE) : 2
False Creek (FC)
: 8
Fairview (FA) : 22
Dunbar (DU) : 3
Cambie (CA)
: 5
The
Westside
neighbourhoods
accounted for 89 : 165 or 54% of
overall Vancouver West attached solds from March 1st - March 8th.
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!