Vanouver Real Estate West End Analysis October 2008

November 13th, 2008 Categories: Vancouver Housing Market, Vancouver Real Estate, West End

West End graph Oct

Vancouver real estate in the West End saw October listings up a tad from 257 in September to 268. Sales were down from 29 in September to 16. The days on the market for condos that sold dropped 65 to 45. The average selling price dropped from $447,834. to $370,468, the lowest for the year and a 35% drop since January. Half the sales were under $300,000 and 90% of the sales were under $400,000. The West End has over 16 months of supply.

Listings - 268

43 listed under $300,000. 84 listed between $300K and $400K. 49 listed between $400 and $500K. 39 listed between $500 and $700,000 and 53 listed over $700,000.

2008 Listings - Jan 168, Feb 172 , Apr 232 , May 241 , June 235, July 235, Aug 246, Sept 257, Oct 268

Sales - 16. Five sold under $300,000. 8 sold between $300,000 and $400,000. No sales between $400K and $500K. 2 sold between $500K and $700K and one over $700,000.

Least expensive $270K for a l bedroom in a leasehold building.

2008 Sales - Jan 57, Feb 53, Mar 42, Apr 45, May 38, June 29, Jul 25, Aug 25, Sept 29, Oct 16

Supply there is an 8 month supply of West End condos listed under $300,000. A 10 month supply for condos listed between $300,000 and $400,000. No market in October for properties between $400K and $500,000. A 19 month supply between $500K and $700K. A whopping 53 months of inventory for condos over $700,000. Clearly sellers with West End condos over $400,000 should be considering alternative plans to selling at this time.

Expireds - 40, Sept 29. Aug 21

Average Days on Market - July 51, Aug 57, Sept 65, Oct 45

Average Sale Price - Jan $592,298. Aug $392,000 Sept $447,834, Oct $370,468.

October 2003 $286,000. In Oct’05 it was $474,476.

Average Selling Price $ pr sq ft - Oct $505 Sept $526, Jul $556, Jun $553, May $544

List Price to Sale Price Ratio - 95%

When you’re ready to buy or sell West End or Vancouver real estate, contact Maggie, an experienced realtor, marketing Vancouver homes since 1981

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