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Vancouver Real Estate Analysis for False Creek North October 2008

by Maggie Chandler on November 17, 2008

in False Creek North

FCN graph Oct 08

Vancouver real estate analysis for False Creek North saw listings flat in October and sales down.  Days on the market increased from 40 in September to 62 and the average selling price increased to $864,980 from  $631,944 in September.    The average supply of condos in this waterfront hood increased from  16 months to 25 months. Best selling price range is between $700,000 and $1,000,000.  No sales over $1.7M. By far the worst October in the history of this waterfront neighbourhood.

Listings – 250 (down from 257 in September)

13 listings under $400,000. 27 between $400,000 and $500,000. 94 listed between $700K and $1M. 51 listings between $1 and $2 million. 20 listings over $2 million.

Least expensive$318,000 for 529 sqft l bedroom. Most expensive is the Penthouse at 1000 Beach, now down to $14,800,000

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

Sales – 10, down from 16 in September. Two sales sold under $400,000. One sold between $400,000 and $500,000. Five sold between $700K and $1M and two sold between $1.4M and $1.7M.

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

Record of sales for False Creek North during October – 2000 (14), 2001 (21) 2002 (23) 2003 (28) 2004(34) 2005 (41) 2006 (48) 2007 (44)Expired Listings – 38. Sept 35Supply - 6 months of supply for False Creek North condos under $400,000. 27 months supply for condos between $400,000 and $500,000. 18 months supply between $700K and $1M. 25 months supply between $1 and $2 million and no market in October for condos over $2 million.Average Price  Jan $1,095,251, Feb $919,278, Apr $735,096, May $799,376, Aug $799,000, Sept $631,944, Oct $864,980Average Days on Market - May 47, Jun 59, Jul 51, Aug 56, Sept 40, Oct 62

List Price to Sales Price Ratio  93% . Sept 96%. This means the spread between list price and sale price is increasing.

Average Sale Price $ pr sq ft – $736. Sept $672

Reflections – clearly the market all but closed down and if you are a

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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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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