Westside Vancouver Attached Property Market Update : November 22nd - November 29th
We would like to present our ‘Westside Attached Stat Package‘
for the period running from November 22nd - November 29th. If
you
have
any
further questions or require more detail please get in touch with us.
Westside attached supply volume fell for the third consecutive week as the market continued to tighten up new listing conditions; we saw 45 new attached listings across the Westside (down from 55 new attached listings in the previous week), which accounted for around 35% of the total 127 new attached listings across Vancouver West (down from 46% in the previous week) as the downtown markets accounted for the 'lions share' of new listing activity. The high-density Kitsilano and Fairview neighbourhoods continued to be the most active with 16 and 11 new attached listings in each neighbourhood; when combined these areas accounted for 60% of all Westside listing activity this past week. Overall, supply conditions have slowly come-around to fall on the side of sellers as new supply has decreased and confirmed sales have continued to trend upwards. This is not entirely unusual for the Westside markets during historic December sales periods as many sellers opt to take their properties off the markets at this time of year or simply wait for the more popular post-Christmas listing period.
As mentioned, Westside attached sales conditions trended upwards this week as we saw 51 confirmed attached sales on the Westside (up from 31 confirmed sales in the previous period). Subsequently, the Westside accounted for a slightly higher ratio of overall Vancouver West attached sales; accounting for 49% of the overall 103 attached sales across Vancouver West. Fairview continued to attract notable buyer activity with 15 confirmed attached sales, well Kitsilano fell-off this week with just 9 confirmed attached sales, which is lower-then-average for the neighbourhood through Q4 2010. Our sales to listing ratio remained competitive and strong for sellers as we saw 51 confirmed attached sales to 45 new attached listings for a saturation rating of 113%.
The 45
(35%) new active attached listings
on the Westside were distributed as follows:
University (UL) : 4
S.W. Marine (SW) : 1
South Cambie (SC) : 3
Quilchena
(QU)
: 2
Marpole
(MR) : 2
Mount Pleasant (MP) : 3
Kitsilano (KT): 16
False Creek (FC) :1
Fairview (FA) : 11
Dunbar
(DU) : 1
Cambie
(CA) : 1
The Westisde neighbourhoods accounted for 45 : 127 or 35% of
overall Vancouver West attached new listings from November 22
-
November 29.
This past week there were 103 sold attached listings in the Vancouver West Region with 51 (49%) 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 51 sold attached listings on the Westside were distributed as follows:
University (UL) : 4
Southlands (SL) : 1
Quilchena
(QU) : 3
Point Grey (PG) : 1
Oakridge (OA) : 2
Marpole (MR) : 3
Mouth Pleasant (MP) : 3
Kitsilano
(KT) : 9
Kerrisdale (KE) : 2
False
Creek (FC) : 3
Fairview (FA) : 15
Dunbar (DU)
: 2
Cambie (CA) : 3
The Westside
neighbourhoods
accounted for 51 : 103 or 49% of
overall Vancouver West attached solds from November 22 -
November 29.
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!