Vancouver Real Estate Analysis for West End Nov 2008

December 4th, 2008 Categories: Real Estate News, Vancouver Real Estate, West End

Wedt End Nov 2008

Vancouver real estate in the West End saw November listings up from October to 281 and is a record high for the year. Sales were down from 16 to 15 and is a record low for the year. The days on the market for condos that sold dropped 65 to 45. The average selling price increased from $370,468 to $375,433 and is a 35% drop since January. 9 of the sales were under $400,00 and the highest price was $732,000. The West End has over 18 months of inventory on the market. The average $ pr sq ft for those West End condos that sold dropped under $500 for the first time this year.

Listings - 281

2008 Listings - Jan 168, Feb 172 , Apr 232 , May 241 , June 235, July 235, Aug 246, Sept 257, Oct 268, Nov 281

Sales - 15

2008 Sales - Jan 57, Feb 53, Mar 42, Apr 45, May 38, June 29, Jul 25, Aug 25, Sept 29, Oct 16, Nov 15

Six sold under $300,000. 3 sold between $300,000 and $400,000 and 3 sold between $400,000 and $500,000 and 3 sold between $600,000 and $750,000

Least expensive - $181,000 for a l bedroom in a 99 year leasehold building, which is only $329 pr sq ft for a concrete building. WOW! The last time this suite was worth this price was Spring 2005.

Most expensive $730,000. The suite was purchased in late 2004 for $475,000 - 50% increase in 4 years.

Average Days on Market - July 51, Aug 57, Sept 65, Oct 45, Nov 48

Average Sale Price - Jan $592,298. Aug $392,000 Sept $447,834, Oct $370,468, Nov $375,433

In Nov’04 the average sale price was $354,810, in Nov’05 it was $420,000. In Nov ‘06 it was $456,457.

Average Selling Price $ pr sq ft - Nov $478, Oct $505 Sept $526, Jul $556, Jun $553, May $544

List Price to Sale Price Ratio - 93% , Oct 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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