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Vancouver Real Estate Analysis for False Creek North May 2009

by Maggie Chandler on June 18, 2009

in False Creek North

fcn may 09

A tight market! Listings Down! Sales Up! Vancouver real estate analysis for False Creek North in May (compared to April) saw listings down from 174 to 158 and are the lowest for the last 18 months.   Sales up from 42 to 59. Days on the market down to 69.  The average selling price up substantially to $721,686.  Average $ psf is up to $651 and is the highest for the year. The average supply of condos in this waterfront hood dropped to only 2.2 months, a quarter of what it was in March and down from 13 months  in February and 17 in January. Two sales over $2 million. In March there were none over $1M. This neighbourhood now selling well under $700,000.  The most number of sales were betwee $500K and $700,000. Market sales increasing and the price range that’s selling is moving up. See how bad things were in November.

Listings -  135. 4 listings under $400,000.  9  listed between $400,000 & $500,000. 20  listed between $500,000 and $700,000.  44 listed between $700,000 and $1 million. 42  listed between  $1 & $2 million and 16 listed over $2 million.

Least expensive $259,00 for a studio at 910 Beach.  This sold new in 1997 for $169,000. Most expensive The 6900 sq.ft. Penthouse at 1000 Beach.  Now listed at $9,800,000.

2008 Listings - Feb 153, Mar 174, May 202, Jun 210,  Jul 237, Aug 256, Sept 257, Oct 250, Nov 246, Dec 229

2009 Listings – Jan 258, Feb 240, Mar 231, Apr 174, May 135

Sales -  59. Four sold under $400,000.  15 sold between $400,000 & $500,000. 21  sold between $500,000 & $700,000. and 11 between $700,000 and $1 million.  6 between $1 million & $2 million (versus none in March) and 2 sold over $2Million.

Supply – 2.2 months . Less than a month under $400,000. 1-1/2 months supply between $400,000 and $500,000.  Less than a months supply between $500k and $700k. Four months between $700,000 and $1M.  Seven months supply for listings between $1 and $2 M and 8 months supply for listings over  $2M.

Least expensive- $280,000 for 594 sq.ft. 1 bedroom at 888 Pacific. This sold for $247,000 3 years ago.

Least expensive in  Coopers Park 740 sqft l bedroom in Coopers Lookout $411,000.

Most expensive -$2,099,000 for 2500 sqft on the Waterfront. It first registered for  $1,595,000 5 years ago

2008 Sales - Jan 24, Feb 39 , Mar 44 , Apr 40 , May 18, June 18, July 9, Aug 14, Sept 16, Oct 10, Nov 6 , Dec 6

2009 Sales - Jan 15, Feb 18, Mar 28, Apr 42, May 59

2008 Average Sale Price - Dec $ 947,259 Nov $816,605, Oct $864,980, Sept $631,944

2009 Average Sale Price – Jan $624,000, Feb $672,541, Mar $592,388, Apr $654,038, May $721,686

2008 List Price to Sales Price Ratio  – Dec 93%, Nov 93%, Oct 93% , Sept 96%

2009 List Price to Sales Price Ratio – Jan 93%, Feb 93%, Mar 95%, Apr 93%, May 95%

2008 Average Sale Price $ pr sq ft - Dec $719, Nov $687, Oct $736. Sept $672

2009 Average Sale Price $ pr sq ft - Jan $606, Feb $627, Mar $600, Apr $628, May $651

2008 Average Days on the market -Dec  61, Nov 58, Oct 62, Sept 42

2009 Average Days on the market - Jan 53, Feb 41, Mar 77, Apr 76, May 69

Did you know you can search for listings on this site? View my other posts on False Creek North. When you’re ready to buy or sell Vancouver real estate or False Creek North, contact Maggie Chandler, an experienced realtor marketing Vancouver real estate since 1981

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