Vancouver Penthouse Real Estate Analysis

by Maggie Chandler on April 26, 2010

in How's The Market

The MLS shows  116 condos  over $500,000 identified as Penthouses – a special apartment on the top floor of a building.  Some condos are marketed as Penthouses if they are one of a few suites on the top floor.  Compared to Feb, listings were flat and sales up, leaving March’s supply of Vancouver Penthouses down to  6.8 months, with the listings under $1M selling the best and only 4 sales over $2M.  Days on market up to 48.   CMHC ‘s new regulations for mortgage qualifying is generating activity at the bottom of the market. Buyers with a pre-approved mortgage must transact by mid June to get in under the old rules, otherwise their purchasing power will be decreased, perhaps by as much as 25%, resulting in them only being able to purchase a lower priced property. Luxury market is soft.

Ranging from 1 bedrooms at $500,000 to the most expensive at $10,000,000.

Listings - Jan 102, Feb 116, Mar 116

59 listed under $1M.  35 listed between $1M and $2M. 13 listed between  $2M & $3M. 8 listed between $3M and $6M and 1 listed over $10M.

2010 Solds – Jan 11, Feb 12, Mar 17

13 sold under $1M (50% more than Feb)  4 sold between $1 and $2M. Fewer sales over $1M than in Jan. Two  1 one bedrooms sold, one 3 bedroom and the rest were 2 bedrooms. Most expensive was $1.5M.

Expireds – Jan 17, Feb 5, Mar 3

Supply in months – Jan 10, Feb 9.6, Mar 6.8

Average Days on the Market – Jan 23, Feb 29, Mar 48

Sale Price to List Price Ratio – Jan 96%, Feb 93%, Mar 97%

Average $ psf - Jan  $494-$1195 with an average of $738, Feb $389-$1211 with an average of $670, Mar $699 ($554-$1225)

Average $ psf for l bedrooms solds-Jan $943, Feb $639, Mar $657

Average $psf for 2 bedrooms solds- Jan $718, Feb $696, Mar $714

Average $psf for 3 bedrooms solds – Feb $607, Mar $641

Live in a Penthouse? Share your experience with us! Have a stat you’d like?  please post a comment

searchfor listings on your own Virtual Office Website (VOW) , sign up for a FREE subscription and receive listings before mls.ca, in Full Public Printout

keep up to date with Vancouver’s changing real estate market, subscribe via RSS or email

when you’re ready to buy or sell a Vancouver Penthouse, contact Maggie, an experienced realtor marketing Vancouver condos since 1981  2009 MLS Medallion Club Master Diamond Member

Leave A Reply With Facebook

comments

Vancouver Home Search Vancouver Home Values

Post by

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

has written 2432 articles.



Leave A Reply With Facebook

comments

Previous post:

Next post: