False Creek Condo Sale Price Down 20% from a Year Ago
by Maggie Chandler on August 15, 2012
in False Creek
False Creek real estate prices are down 20% from a year ago, having peaked at $783,000 in Mar’10 and average sale price is now down to $534,322
- False Creek listings down to 149 and are 7% higher than a year ago
- False Creek sales for July were 9, which is 50% lower than a year ago and taking an average of 37 days to sell
- Sellers dropped 3.5% off list price
- The average $psf is flat at 600
- Sales to active ratio is 7, indicating a strong buyers market
- Expect sales to pick up in second half of 2012
Are False Creek One or Two Bedroom Condos the Best Value?
Average sale price of False Creek two bedrooms is down 27% from a year ago to $659,000 and one bedrooms are down only 3% to an average sale price of $450,000
Where’s the Best Value for Yaletown Properties?
False Creek condos between $570,000 and $738,000 offer the best value, up 6.3% over the last year whilst False Creek condos between $435,000 and $600,000 present the best buying opportunity at 4.2% less than a year ago.
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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!
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