Archive for the 'West End' Category
Vancouver’s West End Market Analysis March 2008
April 14th, 2008 Categories: Vancouver Real Estate, West End
Reflections
Listings up, prices up, sales down, days on the market have increased.
Listings 205 (up from 172 in Feb) Least expensive 2 bedroom $379,000.
125 listed under $500,000. 48 listed between $500K and $1M. 28 listed between $1M and $3 and 3 over $5M. 54 have had a list price reduction. (a whopping 25%) Read the rest of this entry »
| Discussion: 1 Comment »
West End Stats February 2008
March 13th, 2008 Categories: Vancouver Real Estate, West End
172 Current Listings
108 listed under $500,000. 38 listed between $500,00 and $1 million. 16 between $1 million and $2 million. 10 listed over $2 million.
The least expensive listing is $152,000 for a studion in a 99 year leasehold building. The least expensive studio in a strata building is $279,000. The least expensive 2 bedroom is at 1232 Harwood for $449,000.
Only 70 of these listings permit rentals.
February Solds: 49. Three and a half months of inventory…pretty tight market.
Of those solds 37 were under $500,000. 11 between $500,000 and a million and one sold over $1 million. Of those solds, 4 were studios, 27 were one bedrooms, 17 were two bedrooms and the most expensive sale was a 3 bedroom at 909 Burrarrd, 1775 sq.ft. selling at $1,050,000. Only 4 of them had a List Price Reduction.
The least expensive sale for the month was a studio in a leasehold building selling at $200,000 for 480 sq.ft. (nearly the size of l bedrooms Downtown!!). the same in a strata building sold for $270.000
9 sold at list price and 9 sold over list price. Of those selling at or over list price 13 were between the price range of $388,000 to $655,000. 40% of all sales selling at list or above. In a Vancouver market that is not experiencing as much multiple offer situations as in the past, indicates value in the West End condo market.
Median $ pr sq ft is $584. Median days on the market was 16. Median price $395,000.
Happenings 1550 Barclay is a rental building that has been converted to condos. It has underground parking and is rental friendly. 600 sq. ft. l bedroom selling around $350,000.
Appreciation West End condos have risen 16.2% over the last year and 108.9% over the last 5 years.
| Discussion: No Comments »
Name that Building!
February 15th, 2008 Categories: Vancouver Real Estate, West End
This is the only building that I know of in Vancouver which has a tree growing on the top of it!
Built in 1989 The Eugina is in the 1900 Beach Ave.
| Discussion: No Comments »
West End January Stats
February 13th, 2008 Categories: Real Estate News, West End
MLS show 168 listings from $160,000 for a studio in a 99 year leasehold building to a Penthouse for $5,999,000 that is 4400 sq.ft.
January had 51 sales - a healthy market with 3 months of inventory. 39 sales under $500,000 and 4 over one million.
The most expensive was 281 days on the market and sold for $1500 pr sq ft. The least expensive was one day on the market and sold for $221,000, $385 pr sq ft. The average was 45 days on the market and $623 pr sq ft. 6 sales had a price reduction and one a price increase.
17 sold at list price and 2 sold over list price.
| Discussion: No Comments »
West End January Stats
February 10th, 2008 Categories: Vancouver Real Estate, West End
MLS show 168 listings from $160,000 for a studio in a 99 year leasehold building to a Penthouse for $5,999,000 that is 4400 sq.ft.
January had 51 sales - a healthy market with 3 months of inventory. 39 sales under $500,000 and 4 over one million.
The most expensive was 281 days on the market and sold for $1500 pr sq ft. The least expensive was one day on the market and sold for $221,000, $385 pr sq ft. The average was 45 days on the market and $623 pr sq ft. 6 sales had a price reduction and one a price increase.
17 sold at list price and 2 sold over list price.
| Discussion: No Comments »
How Does Your Vancouver Condo Neighbourhood Compare?
January 15th, 2008 Categories: Coal Harbour, Downtown, Kitsilano, Vancouver Real Estate, West End
Perhaps you live in a specific Vancouver neighbourhood and wish to move up to a larger property but find it expensive, so you are wondering how other neighbourhoods compare in price?
Or maybe you’re a first time buyer and renting, love your hood but cant afford to buy a property in it.
REBGV puts out these stats on vancouver west n’hoods (benchmark prices) as at December 2007. In brackets is the price change for the past year.
Cambie $412,000(16.7%)/Coal Harbour $613,000(2.8%)/Downtown $427,000(14.8%)/Fairview $459,000(18.7%)/False Creek North $811,000(12.7)/Kerrisdale $536,000(15.4%)/Kitsilano $423,000(9.1%)/West End $443,000(9.9%)
Appreciation over the last 5 years: Cambie 98.2%./Coal Harbour 111.7%/Downtown 110%/Fairview 98%/False Crrek North 137%/Kerrisdale 84%/Kits 98%/West End 96%
Appreciation over the last year for West Side house 27%(best apprciation in the Lower Mainland), townhomes 13% and condos13.7%.
Vancouver East houses appreciated 14.3%, townhomes 11.7% (Richmond was the highest at 14.7%)and condos a whopping 18.8% (best condo apprciation in the Lower Mainland)
| Discussion: No Comments »
Condo Prices in Vancouver’s Downtown Neighbourhoods
November 9th, 2007 Categories: Vancouver Real Estate, West End
Average prices of Vancouver’s Downtown Condo Neighbourhoods
Coal Harbour $793,741, False Creek North $824,442, Downtown $414,034, West End $475,981
CMHC says apartment starts in Downtown Vancouver drop by 37% and Vancouver Westside by 42% this year. However, condo construction picks up at a rapid rate of 93% in Vancouver Eastside.
According to analysts, Vancouver’s housing market is still considered healthy as only about 20% of properties are resold within a year, indicating speculation remains low.
Among the 8% of Vancouverites who are planning to buy a property, 35% are first time buyers and 64% are repeat buyers, according to CMHC’s survey.
Mortgage rate outlook is flat, according to CMHC’s regional economist Carol Frketich, at around 7%, down from the mid-2000 peak of 8.75%.
However, while still low by historical norms, mortgage rates are expected to rise .25 to .50% in 2008. The one year posted mortgage rate is forecast to be in the 6.50-7.50% range, while three and five year posted mortgage rates are forecast to be in the 6.75-7.75% in 2008.
I am finding there is a shortage of inventory, still lots of multiple offers happening, in all price ranges under $1 million. The buyers are first timers, investors and offshore people looking for vacation homes.
| Discussion: No Comments »
