Susan Keevil

We would like to present ‘Westside Detached Stat Package’ for the week of January 3rd - January 10th.

After declining sharply through mid-to-late December, Westside detached listing supply rebounded this past week with the strongest showing over the past month.  This is to be expected as many detached homeowners opt to wait through the holiday season prior to listing their homes, making January a traditionally busy period for detached home supply.  This week we saw 44 new detached listings across the Westside (up from just 17 new detached listings during the holidays).  Shaughnessy led the way with 6 new detached listings well Arbutus, Cambie, Dunbar, Kitsilano, and Mackenzie Heights were also among the leading neighbourhoods with 4 new detached listings in each neighbourhood respectively.  We saw a sellers market to end December with confirmed sales outpacing new supply, so it is not surprising we are now seeing the market address the lack of available property with a plethora of new product to start the New Year!

Confirmed sales volume had begun to trend downwards in mid-December as a lack of new product made it difficult for potential buyers to find homes in certain neighbourhoods.  Consequently, we're seeing a slow start to the New Year in regards to confirmed sales with new listing supply needing to catch up with demand, and the offers to start rolling in before we see a more stabilized market across the Westside detached areas. We saw just 14 confirmed detached sales this past week (down from 27 confirmed detached sales over the last recorded period), which marked a low-point for the Westside detached market. Dunbar remained the most popular area for potential homebuyers with 4 confirmed detached sales this past week well traditionally busy markets like Kitsilano and Point Grey saw a fairly stagnant sales pace with a lack of supply causing buyers to wait out the New Year or possibly switch their search to areas with more readily available product.

Please note if your neighbourhood is not included in the weekly list it indicates there were zero (0) confirmed sales in your area for that period.

The 44 new detached active listings on the Westside were distributed as follows:

Arbutus (AR) : 4
Cambie (CA) : 3
Dunbar (DU) : 4
Kitsilano (KT) : 4
Mackenzie Heights (MH) : 4
Marpole (MR) : 4
Oakridge (OA) : 1
Point Grey (PG) : 1
Quilchena (QU) : 1
South Cambie (SC) : 1
South Granville (SG) : 4
Shaughnessy (SH) : 6
S.W. Marine (SW) : 1
University (UL) : 3

44 total new detached listings on the Westside from January 3rd - January 10th.

This past week there were 14 detached sold listings in the Vancouver West Region. 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 14 detached sold listings on the Westside were distributed as follows:

Dunbar (DU) : 4
Marpole (MR) : 2
Point Grey (PG) : 1
Quilchena (QU) : 2
Shaughnessy (SH): 1
South Granville (SG) : 3
S.W. Marine (SW) : 1

14 total detached sales on the Westside from December 13 - December 20.

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!