Vancouver Real Estate Analysis for West End March 2009

April 20th, 2009 Categories: Vancouver Housing Market, Vancouver Real Estate, West End

we mar 09

Vancouver real estate in the West End saw listings down to 254 in March from 274 in February, having reached a record high for the year in November. Sales steadily climbing from 26 in January, to 34 in February and 56 in March. The days on the market for condos that sold increased to 67 from 44. The average selling price decreased from $477,545 to $443,480. 80% of the sales were under $500,00 and the highest price was $1,180,000 in the Shangr-la. The list price to sale price ratio is flat. The West End inventory dropped to 4.5 months, down from 9.7 months in January. The average $ pr sq ft for those West End condos that sold is stable at $525. The market between $400,000 and $500,000 has the most demand (in February it was the market under $300,000 - move up sellers?)

Listings - 254

Least expensive - $158,000 for a concrete building, 99 year leasehold, 450 sq.ft. Least expensive strata l bedroom $238,000. Least expensive strata 2 bedroom is $335,000 with most of them begnning at $410,000.

Most expensive - $5,888,000 for 4500 sqft in Shangri-la. View it

4 West End condos listed under $200,000. 39 listed between $200,000 and $300,000. 71 listed between $300,000 and $400,000. 42 listed between $400,000 and $500,000. 57 listed between $500,000 & $1M. 41 listed over $1M.

2008 Listings - Jan 168, Feb 172 , Apr 232 , May 241 , June 235, July 235, Aug 246, Sept 257, Oct 268, Nov 281, Dec 242

2009 Listings - Jan 253, Feb 274, Mar 254

2008 Sales - Jan 57, Feb 53, Mar 42, Apr 45, May 38, June 29, Jul 25, Aug 25, Sept 29, Oct 16, Nov 15, Dec 21

2009 Sales - Jan 26, Feb 34, Mar 56

None sold under $200,000. Ten sold between $200,000 and $300,000. 19 sold between $300,000 and $400,000. 17 sold between $400,000 and $500,000. 8 between $500K and $1M. 2 sold between $1M and $1.2M. Only 50% had a list price reduction (compared to 25% in Febuary).

Least expensive - $218,00 for 500 sqft ($436 pr sq ft) in concrete strata which sold in 1996 for $108,000.

Most expensive - $1,080,000 in Shangri-la condo building for 1553 sq.ft. ($695 pr sq ft). 2005 Presale price only slightly less

2008 Average Days on Market - July 51, Aug 57, Sept 65, Oct 45, Nov 48, Dec 53

2009 Average Dasy on Market - Jan 69, Feb 44, Mar 67

2008 Average Sale Price - Jan $592,298. Aug $392,000 Sept $447,834, Oct $370,468, Nov $375,433, Dec $407,357

2009 Average Sale Price - Jan $447,226, Feb $477,545, Mar $443,480

In Dec’07 the average sale price was $541,000 in Dec’05 it was $333,000. In Dec ‘06 it was $414,000.

2008 Average Selling Price $ pr sq ft - Dec $512, Nov $478, Oct $505 Sept $526, Jul $556, Jun $553, May $544

2009 Average Selling Price $ pr sq ft - Jan $528, Feb $525, Mar $526

2008 List Price to Sale Price Ratio - Dec 93% ,Nov 93% , Oct 95%

2009 List Price to Sale Price Ratio - Jan 94%, Feb 94%, Mar 94%

What’s your take on the West End market?

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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