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Vancouver Real Estate Analysis for Downtown

by Maggie Chandler on November 20, 2009

in Downtown

dt graph pic Vancouver Real Estate Analysis for Downtown

Vancouver’s Downtown condo market saw listings and sales up in  October, with  the market under $700,000 selling the best.  The average selling price jumped to $519,000 and the average $psf down a tad to $610.  Monthly sales were the second highest for the year and higher than any month in 2008.  Listings back to the Jan/Feb level. Condos that  “expired” and didn’t sell dropped from 53 to 33 (vs. 78 in Jan) and only 5 got relisted.  Average days on the market for condos that sold steady at 32.  68% of the sales were under $500,000 (down from 80% in August) and sales increased over $1M.  The supply is down to 3 months vs.16 months last October.  List price to sales price ratio flat at 98%.  Vancouver’s downtown market remains strong.

Listings -543.  Least expensive $220000 for a small studio.  Most expensive -$6.6M for 3500 sqft in Residences on Georgia Sub-Penthouse.

Listings Inventory -  20 listings Downtown under $300,000.  112 between $300K and $400K.  134 listings between $400K and $500K.  160 condos listed between $500K and $700K.  64 listed between $700,000 and $1M.  53 listed over $1M, including 4 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

Sales - 178.  10 sold under $300,000.  56 sold between $300,000 and $400,000.  56 sales between $400,000 and $500,000. 38 sold between $500,000 and $700,000 and 10 sold between $700,000 & $1M. 8 sales over $1 million, including 2 over $2M.

Most expensive -  Pre-sale at Artemisia, 2500 sf Penthouse selling $1260 psf

Least expensive - $209,000 for a 680 sf l bedroom foreclosure at 789 Drake

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

Supply (number of months)  2008 – Oct 16 ,Nov 23 , Dec 17.  

Jan’09 - 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

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

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

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

2008 List to Sale Price Ratio  Dec 94%  ,Nov 94%, Oct 95%, Sept 96%

2009 List to Sale Price Ratio  Jan 95%, Feb 95%, Mar 96%, Apr 96%, May 97%  , June 98%, Jul 98%, Aug 99%, Sept 98%, Oct 98%

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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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