Vancouver’s Coal Harbour Market Analysis for May 2008

June 6th, 2008 Categories: Coal Harbour, Vancouver Housing Market, Vancouver Real Estate

Vancouver’s Coal Harbour Market Statistics for May 2008 show a slight decline in sales from April 2008 and from May 2007 . An increase in listings from May 2007 but no increase from April 2008. The supply is up, now 11 months and the Days on Market has increased slightly. The average price is up.

Listings 175 - there are 35 under $500,000 with a 7 month supply, 54 between $500,000 and $1 million with a 13 month supply. 53 from $1 to $2 million with a 9 month supply. 13 between $2 and 3 million with a 13 month supply. 8 between $3 and 4 million, 4 between $4 and 5 million and 8 over $5 million. There were no sales over $2,2 million, so apparently no market at present for condos listed over that price. 58 listings had a pirce reduction and 1 had a price increase.

The lease expensive is 290 sq.ft. studio at 1128 W. Hastings for $228,000. The Shaw Tower Penthouse remains the most expensive, with a price reduction to $16,800,000. Contact me if you wish to sell your Coal Harbour condo.

Sales 16 - 5 under $500,000, 4 between $500,000 and $1 million, 6 between $1 and 2 million and one just over $2 million and took 6 months to sell. 6 of them had a price reduction and 1 sold over list price.

Least expensive was a studio at 555 Jervis $298,0000.

2008 Sales - Jan 14, Feb 33, Mar 22, Apr 26 May 16

Average Days on Market 46 (39 in April)

Sale price to list price ration 97%

Average $ pr sq ft - $821.70:

REFLECTIONS listings have levelled, sales decreased, average price is up, days on market is up and supply is up, now 11 months, offering a good buyer’s market. Sales over $1 million are up. Contact me if you wish to buy in Coal Harbour

HAPPENINGS

West Pender Place has now started construction

The Ritz Carlton is now pre-selling

Shangri-la Hotel/Condo & Flatiron due for completion in the Fall.

Sapphire and the Ritz nearing completion

Read my other articles on Coal Harbour or search for Coal Harbour listings on thsi site

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