Vancouver real estate in the West End saw August listings increase slightly to 169, having reached a record high of 281 last November. The days on the market for condos that sold dropped from 43 to 29, the lowest for the year. The average selling price up to $497,000. 71% of the sales were under $500,000 and 6.5% were over $1M, up from 3.5% last month. The list price to sale price ratio flat at 98% and the highest for the year, indicting little flexibility on the price from sellers. The West End inventory increased a tad to 2.7 months, down from 9.7 months in January. The average $ pr sq ft for those West End condos that sold increased to $578, which is the highest for the year. The market under $500,000 has the most demand but $500K $1M doing better with only 3 months inventory. In February it was the market under $300,000 that was selling the best. Over the summer both listings and sales have decreased. Usual summer lull or have we gone through the backlog of buyers who didn’t purchase last year?
Listings – 169. 20 listed under $300,000 (including 5 under $200,000). 48 listed between $300,000 and $400,000. 26 listed between $400,000 and $500,000. 36 listed between $500,000 and $1M. 24 listed between $1M & $2M. 10 listed between $2M
Least expensive -$189,00 for a leasehold studio
Most expensive – $5,888,000 for 4500 sq-ft in Shangri-la. View it
Supply - 2.7 months
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
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
Sales 62. Two sold under $200,000. 6 sold between $200,000 and $300,000. 21 sold between $300,000 and $400,000. 16 sold between $400,000 and $500,000. 12 between $500K and $1M. 4 sold between $1M and $2M . Only 6.5% selling over $1M. 71% selling under $500,000, down from 75% last month
Least expensive - $158000 for a 99 year leasehold studio
Most expensive - 1900 sq ft for $1,800,000 at 2015 Beach
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
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
In Dec’07 the average sale price was $541,000 in Dec’05 it was $333,000. In Dec ‘06 it was $414,000.
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
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%
When you’re ready to buy or sell West End or Vancouver real estate, contact Maggie, an experienced realtor, marketing Vancouver homes since 1981
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