Vancouver Real Estate West End Analysis - September 2008
October 16th, 2008 Categories: Vancouver Housing Market, West End
Vancouver real estate in the West End saw September listings up a tad from 246 in August to 257 in September. Sales were up from 25 in August to 29 in September. The days on the market for condos that sold increased from 57 to 65. The average selling price increased from $392,000 to $447,834. The West End has nearly a nine month supply of condos for sale.
Listings - 257
2008 Listings - Jan 168, Feb 172 , Apr 232 , May 241 , June 235, July 235, Aug 246, Sept 257
41 listed $300,000. 68 listings between $300,000 and $400,000. 50 listed between $400,000 and $500,000. 29 listings between $500,000 and $600,000. 39 listings between $600,000 and $1M and 30 listings over $1 million.
The least expensiveis a one bedroom at 1250 Burnaby, 540 sq.ft., 99 year leasehold concrete building with a rooftop pool for only $199,000. The most expensiveis the 717 Jervis Penthouse for $5,775,000 for 8700 sqft.
Sales -29
There was 6 sales under $300,000. 7 between $300,000 and $400,000. 9 between $400,000 and $500,000. 3 between $500,000 and $600,000. 2 between $600,000 and $1 million and 2 sales over $1 million. 40% of them had their list price reduced.
The least expensive was a studio in a 99 year leasehold building which sold for $125,000!! Under $300 pr sq ft! Luxury cars sell for more! 25% down and it’ll pay for itself.
Supply - 7 months for condos listed under $300,000. Over 9 months supply for condos listed between $300,000 and $400,000. 6 months supply for the $400,000-$500,000 range. 9 month supply between $500,000 and $600,000. Between $600,000 and $1 million there is a 19 month supply of West End condos and 14 months for condos listed over $1 million.
Best Selling Price Range is $400,000 -$500,000 in the West End for September. Slowest selling price range is $600,000-$1 million.
2008 Sales - Jan 57, Feb 53, Mar 42, Apr 45, May 38, June 29, Jul 25, Aug 25, Sept 29
Expireds - 29. Aug 21
Average Days on Market - July 51, Aug 57, Sept 65
Average Sale Price - Aug $392,000 Sept $447,834
Average Selling Price $ pr sq ft - Sept $526, Jul $556, Jun $553, May $544
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