Vancouver’s Downtown Market Analysis June 2008

July 19th, 2008 Categories: Downtown, Vancouver Housing Market, Vancouver Real Estate

Vancouver’s Downtown market in June saw an increase in sales and listings compared to May. The days on market was the same and so was the average price. 75% of the sales were under $500,000.

Listings - 740 (vs 669 in May). 430 listed under $500,000. 264 listed between $500,000 and $1 million. 40 listed between $1 and $2 million. 6 listed over $2 million.

There is a 5 1/2 month supply under $500,000, a one year supply between $500,000 and $1 million and a two year supply over $1 million.

2008 Listings Jan 420 , Feb 457 ,Mar 529 , Apr 630, May 669 , June 740

Sales - 102 (vs 86 in May). 77 sold under $500,000 and 23 sold between $500,000 and $1 million. One sold between $1 and $3 million and one sold over $3 million. There were 38 list price reductions and one increase.

2008 SALES - Jan 109, Feb 137 , Mar 139, Apr 114, May 86, June 102

Days on the Market - 32

Average Price $460,417

Sale Price to List Price Ratio 98%

Pre-sales: 999 Seymour, 1000 Richards, Dolce, Alto, Beasley. Just opened L’Hermitage.

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