Vancouver’s Downtown real estate analysis in Febuary saw listings down slightly and similar to a year ago.. As expected sales dropped (due to the Olympics) by 55% but was similar to a year ago. The market under $500,000 selling the best. Average days on the market steady at 35, and average $psf down slightly to $606. Sale price to list price ratio steady at 98%. Now over 6 months supply, which doubled from January due to the drop in sales. We shall see what March brings.
Listings -510. Least expensive $259,000 for a small studio. Most expensive is The Penthouse at Grace, $12,650 for nearly 5000 sf
Listings Inventory - 34 listings Downtown under $300,000. 178 between $300K and $400K. 175 listings between $400K and $500K. 214 condos listed between $500K and $700K. 74 listed between $700,000 and $1M. 59 listed over $1M, including 6 over $3M.
2008 Listings - Jan 420, Feb 457 ,Mar 529 , Apr 630, May 669 , June 740, July 745, Aug 782, Sept 742, Oct 744, Nov 804, Dec 545
2009 Listings – Jan 547, Feb 548, Mar 426, Apr 416, May 415 , Jun 437, Jul 441, Aug 436, Sept 529, Oct 543, Nov 500, Dec 543
2010 Lisings - Jan 546, Feb 510
Expired lisitngs – 2010 – Jan 37. Feb 29
Expired listings 2009 - Dec 76, Nov 44, Oct 33. Jan’09 – 78
Sales - 82. 5 sold under $300,000. 34 sold between $300,000 and $400,000. 24 sales between $400,000 and $500,000, 11 sold between $500,000 and $700,000, and 6 sold between $700,000 & $1M . 2 sold over $1M. 15 condos had list price reductions and 2 had price increases.
Most expensive - 2 bdrm in Grace for $1,675,000
Least expensive - $268,000 for a studio in Brava
2008 Sales - Jan 109, Feb 137 , Mar 139, Apr 114, May 86, June 102, July 65, Aug 69, Sept 62, Oct 47, Nov 34, Dec 32
2009 Sales – Jan 52, Feb 90, Mar 129, Apr 117, May 117, Jun 176, Jul 188, Aug 189, Sept 149, Oct 178, Nov 166, Dec 98
2010 Sales - Jan 141, Feb 82
Supply (number of months) 2008 – Oct 16 ,Nov 23 , Dec 17.
2009 - Jan 10, Feb 6, Mar 3.3, Apr 3.6, May 3.5, Jun 2.4, Jul 2.3, Aug 2.3, Sept 3.5, Oct 3, Nov 3, Dec 5.5
2010- Jan 3.8, Feb 6.2
2008 Average Days on Market - May 32, Jun 32, Jul 39, Aug 46 , Sept 50, Oct 48, Nov 42, Dec 78
2009 Average Days on Market – Jan 56, Feb 49, Mar 51, Apr 49, May49 , June 32, Jul 30, Aug 25, Sept 32, Oct 32, Nov 28, Dec 26
2010 Average Days on Market - Jan 36, Feb 35
2008 Average Selling Price - Dec $425,715 , Nov $435,088, Oct $411,768, Sept $379,000, Aug $408,824, Jul $460,017 Mar $450,048, Feb $424,838
2009 Average Selling Price – Jan $413,171, Feb $371,831, Mar $404,040, Apr $391,929, May $391,929, Jun $421,392, Jul 439,124, Aug $432,000, Sept $490,000, Oct $519,483, Nov $459,000, Dec $548,233
2010 Average Selling Price – Jan $488,415, feb $468,000
2008Average Sale Price $ pr sq ft - Dec $553, Nov $567, Oct $562, Sept $565, Feb $616, Mar $646
2009 Average Sale price $ pr sq ft – Jan $547, Feb $544, Mar $531, Apr $543, Jun $595, Jul $601, Aug $611, Sept 618, Oct $610, Nov $623, Dec $623
2010 Average Sale Price $psf – Jan $623, Feb $606
2008 Sale Price to List Price Ratio Dec 94% ,Nov 94%, Oct 95%, Sept 96%
2009 Sale Price to List Price Ratio Jan 95%, Feb 95%, Mar 96%, Apr 96%, May 97% , June 98%, Jul 98%, Aug 99%, Sept 98%, Oct 98%, Nov 98%, Dec 97%
2010 List Price to Sale Price Ratio - Jan 98%, Feb 98%
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