Vancouver’s Downtown Market Analysis July 2008
by Maggie Chandler on August 16, 2008
in Downtown
Vancouver’s Downtown market in July saw listings level off (745 vs 740 in June). The sales were down to 65 from 102 in June. The average days on market was up to 39, from 32. The average price was down to $403,000 from $460,000. 80% of the sales were under $500,000 ( vs 75% in June) and no sales over $800,000….very much a bottom end market.
Listings – 745
Vancouver’s Downtown has a months supply for condos listed under $500,000. A months supply for listings between $500,000 and $1 million and no takers for condos over $900,000 this month.
2008 Listings Jan 420 , Feb 457 ,Mar 529 , Apr 630, May 669 , June 740, July 745
Solds 65. 23 had list price reductions, 1 had a list price increase!
52 sold under $500,000 and the rest sold under $800,000.
2008 SALES – Jan 109, Feb 137 , Mar 139, Apr 114, May 86, June 102, July 65
Expired Listings (didn’t sell) 67 vs. 48 in June and 20 in July’07
Days on the Market – 39
Average Sale Price – $403,793
Average $ pr sq ft – $598
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Very useful information, thanks
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