Condo Prices in Vancouver’s Downtown Neighbourhoods

by Maggie Chandler on November 9, 2007

in 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.

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WELCOME! And thanks for checking out my site, and wanting to know a little bit about me. I LOVE what I do, and that’s helping home buyers and home sellers in the waterfront condo neighbourhoods of Vancouver and I’ve been doing just that for nearly 30 years, so I’ve really gotten to know this market like the back of my hand. In fact I’ve seen Vancouver’s neighbourhoods of Coal Harbour, Downtown, Kitsilano, False Creek North, the West End and now the Olympic Village being built and I have an in depth knowledge of these neighbourhoods. My interest in Vancouver’s history combines with my interest in the changes and growth of its waterfront neighbourhoods. If you see me walking on the seawall, playing tennis or boating, say hello! The city of Vancouver and its neighbourhoods of Coal Harbour, Downtown, Kitsilano, False Creek North, the Olympic Village and the West End have been put on the world map with its dynamic growth, international immigration, hosting the 2010 Winter Olympics, amazing world class restaurants, geographical beauty and quality of life. Consistently voted the Best City in the World to live, you can find great shopping, sports and entertainment in Vancouver. I assist first time and trade up home buyers, investors and vacation home buyers, as well as first time and trade up home sellers, investors and vacation home sellers with the purchase and sale of houses, townhouses and condominiums. I come armed with stats and graphs and an extensive knowledge of market activity, with attention to detail that will give you piece of mind that I’m working in your best interest, I am a hard working, detail oriented, diligent individual with strong interpersonal skills, patience and a high level of integrity . My goal is to make the home buying and the home selling a fun trip with low stress and I use today’s technology to make every real estate transaction as smooth as possible by clearly answering your questions, providing expertise and offering a savvy opinion. Providing trustworthy real estate services in the Vancouver area for over 30 years

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