Vancouver Real Estate Analysis for West End
October 20th, 2009 Categories: Real Estate News, Vancouver Real Estate, West End
Vancouver real estate in the West End saw September listings steady at 171 (equal to feb’08) and sales at 65 (less than the peak of 88 in June) resulting in 2.6 months of inventory, second lowest month for the year after July. The days on the market for condos that sold increased from 29 to 39. The average selling price jumped to nearly $700,000, distorted by a Shangri-la sale over $5M, which also distorted the sale price psf. 75% of the sales were under $500,000 and 14% were over $1M, up from 6.5% the month before. The list price to sale price ratio flat at 98% and the highest for the year, indicting little flexibility on the price from sellers. In February the market under $300,000 was selling the best -currently 20% of the solds. Overall a healthy market with more sales at the high end.
Listings - 171. 13 listed under $300,000 (including 2 under $200,000). 45 listed between $300,000 and $400,000. 33 listed between $400,000 and $500,000. 45 listed between $500,000 and $1M. 26 listed between $1M & $2M. 9 listed over $2M
Least expensive -$198,00 for a leasehold one bedroom
Most expensive - $5,888,000 for 4500 sq-ft in Shangri-la. View it
Supply (months) - Sept 2.6. Aug 2.7 months, Jul 2.1, Jun 2.2, May 5.2, Apr 3.2, Mar 4.5, Feb 8, Jan 9.7
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, Apr 228, May 201, Jun 185, Jul 164, Aug 169, Sept 171
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, Apr 73, May 88, Jun 84, Jul 75, Aug 62, Sept 65
Sales 65. One sold under $200,000. 13 sold between $200,000 and $300,000. 26 sold between $300,000 and $400,000. 9 sold between $400,000 and $500,000. 10 between $500K and $1M. 9 sold between $1M and $2M . Only 14% selling over $1M (up from 6.5% in August). 75% selling under $500,000, up from 71% in August.
Least expensive - $185000 for a 99 year leasehold one bedroom
Most expensive - $5,250 for a Shangri-la Estates condos ($1180 psf)
2008 Average Days on Market - July 51, Aug 57, Sept 65, Oct 45, Nov 48, Dec 53
2009 Average Days on Market - Jan 69, Feb 44, Mar 67, Apr 51, May 49, Jun 49, Jul 43, Aug 29, Sept 39
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, Apr $521,593, May $482,585, Jun $482,017, Jul $449,000, Aug $497,000, Sept $695,432
In Dec’08 the average sale price was $407,537, in Dec’07 it was $541,000 in Dec’06 it was $414,000 and in Dec ‘05 it was $333,000.
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, Apr $558, May $541, Jun $567, Jul $560, Aug $578, Sept $635
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%, Apr 96%, May 96%, Jun 97%, Jul 98%, Aug 98%, Sept 98%
When you’re ready to buy or sell West E8%nd or Vancouver real estate, contact Maggie, an experienced realtor, marketing Vancouver homes since 1981
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Surely the European & Asian Economy & market values have improved and still there is a much higher scope for the growth. Granite CounterTops
Comment by Kitchen Countertop — October 20, 2009 #