West End Stats February 2008

March 13th, 2008 Categories: Vancouver Real Estate, West End

172 Current Listings

108 listed under $500,000. 38 listed between $500,00 and $1 million. 16 between $1 million and $2 million. 10 listed over $2 million.

The least expensive listing is $152,000 for a studion in a 99 year leasehold building. The least expensive studio in a strata building is $279,000. The least expensive 2 bedroom is at 1232 Harwood for $449,000.

Only 70 of these listings permit rentals.

February Solds: 49. Three and a half months of inventory…pretty tight market.

Of those solds 37 were under $500,000. 11 between $500,000 and a million and one sold over $1 million. Of those solds, 4 were studios, 27 were one bedrooms, 17 were two bedrooms and the most expensive sale was a 3 bedroom at 909 Burrarrd, 1775 sq.ft. selling at $1,050,000. Only 4 of them had a List Price Reduction.

The least expensive sale for the month was a studio in a leasehold building selling at $200,000 for 480 sq.ft. (nearly the size of l bedrooms Downtown!!). the same in a strata building sold for $270.000

9 sold at list price and 9 sold over list price. Of those selling at or over list price 13 were between the price range of $388,000 to $655,000. 40% of all sales selling at list or above. In a Vancouver market that is not experiencing as much multiple offer situations as in the past, indicates value in the West End condo market.

Median $ pr sq ft is $584. Median days on the market was 16. Median price $395,000.

Happenings 1550 Barclay is a rental building that has been converted to condos. It has underground parking and is rental friendly. 600 sq. ft. l bedroom selling around $350,000.

Appreciation West End condos have risen 16.2% over the last year and 108.9% over the last 5 years.