Vancouver real estate in the West End saw October listings and sales down in November, resulting in less than 3 months of inventory. The days on the market for condos that sold dropped from 47 to 30. The average selling price dropped to $568,000 but is higher than any November in the last 5 years. The sales under $500,000 dropped from 75% to 51% and the $700,000 to $1M price range increased by 50%. The list price to sale price ratio is 99% . In February the market under $300,000 was selling the best -currently less than 10% of the sales.
Listings – 130. 9 listed under $300,000 (including 1 under $200,000). 29 listed between $300,000 and $400,000. 14 listed between $400,000 and $500,000. 45 listed between $500,000 and $1M. 21 listed between $1M & $2M. 7 listed over $2M
Least expensive -$198,00 for a leasehold one bedroom
Most expensive – $5,780,000 for 4500 sq-ft in Shangri-la. View it
Supply (months) - Nov 2.6, Oct 2.6, Sept 2.6. Aug 2.7 months, Jul 2.1, Jun 2.2, May 5.2, Apr 3.2, Mar 4.5, Feb 8, Jan 9.7
2008 Listings - Jan 168, Feb 172 , Apr 232 , May 241 , June 235, July 235, Aug 246, Sept 257, Oct 268, Nov 281, Dec 242
2009 Listings – Jan 253, Feb 274, Mar 254, Apr 228, May 201, Jun 185, Jul 164, Aug 169, Sept 171, Oct 157, Nov 130
2008 Sales – Jan 57, Feb 53, Mar 42, Apr 45, May 38, June 29, Jul 25, Aug 25, Sept 29, Oct 16, Nov 15, Dec 21
2009 Sales – Jan 26, Feb 34, Mar 56, Apr 73, May 88, Jun 84, Jul 75, Aug 62, Sept 65, Oct 64, Nov 50
Sales 50. One sold under $200,000. 7 sold between $200,000 and $300,000. 12 sold between $300,000 and $400,000. 7 sold between $400,000 and $500,000. 19 between $500K and $1M (up from 12 last month) and 3 sold over $1M (down from 7 last month) . Only 6% selling over $1M, down from 7% last month and down from 14% in Sept. In Sept and Oct 75% of sales were under $500,000, now down to just under 60%.
Least expensive - $184,000 for a 99 year leasehold one bedroom
Most expensive - $3,880 for 4300 sf Penthouse on Alberni
2008 Average Days on Market – July 51, Aug 57, Sept 65, Oct 45, Nov 48, Dec 53
2009 Average Days on Market – Jan 69, Feb 44, Mar 67, Apr 51, May 49, Jun 49, Jul 43, Aug 29, Sept 39, Oct 47, Nov 30
2008 Average Sale Price – Jan $592,298. Aug $392,000 Sept $447,834, Oct $370,468, Nov $375,433, Dec $407,357
2009 Average Sale Price – Jan $447,226, Feb $477,545, Mar $443,480, Apr $521,593, May $482,585, Jun $482,017, Jul $449,000, Aug $497,000, Sept $695,432, Oct $616,500, Nov $568,000
In Nov’08 the average sale price was $376,000, in Nov’07 it was $545,000 in Nov’06 it was $413,000 and in Oct ‘05 it was $367,000.
2008 Average Selling Price $ pr sq ft - Dec $512, Nov $478, Oct $505 Sept $526, Jul $556, Jun $553, May $544,
2009 Average Selling Price $ pr sq ft – Jan $528, Feb $525, Mar $526, Apr $558, May $541, Jun $567, Jul $560, Aug $578, Sept $635, Oct $614, Nov $571
2008 List Price to Sale Price Ratio - Dec 93% ,Nov 93% , Oct 95%
2009 List Price to Sale Price Ratio – Jan 94%, Feb 94%, Mar 94%, Apr 96%, May 96%, Jun 97%, Jul 98%, Aug 98%, Sept 98%, Oct 98%, Nov 99%
When you’re ready to buy or sell West E8%nd or Vancouver real estate, contact Maggie, an experienced realtor, marketing Vancouver homes since 1981
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{ 1 comment… read it below or add one }
Good analysis report,i think 2010 will be a great time for real estate.Don’t worry about this.
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