So what is selling in the current Vancouver real estate market and what price range sells the best?
Taking a look at July’s sales we see a total of 354 Vancouver west side transactions in condos and 60% of those were under $500,000 and 10% were over $1M. The one and two bedroom suites were selling about the same, with 167 one bedrooms and 158 two bedrooms, 14 three bedrooms and 15 studios. Average days on market was 50 and list price to sale price ratio was 97%. Average sale price $555,774 and average $psf was 627.
Townhome sales tallied 44 with 25% under $500,000, 15% were over $1M and the bulk selling between $500,000 and $1M. Average days on market 40. Sale price to list price ratio 97%. Average sale price was $ 733,602 and average $psf was 593.
Vancouver homes saw a total of 116 sales for the month of July and only 5 sales under $1M, the least expensive was $850,000. 80 sales between $1M and $2M, 22 sales between $2M and $3M, 5 between $3M and $4M and 4 over $4M, including one house selling over $5M and one over $6M. Average days on market was 38. Sale price to list price ratio was 96% and average sale price was $1,863,787.
Although there is a great difference in the average sale price of Vancouver homes, townhomes and condos, it appears that the lower price range is what’s presently selling the best and the market remains balanced with the average list price to sale price ratio coming in at 96-97% for all three categories. As well, the days on market are all under 50.
Best selling neighbourhood? South Granville with 16 house sales, narrowly beating out Dunbar with 15. Kits had the most towhome sales with 14, followed by Fairview with 11 and Downtown wins with the most condo sales at 106, followed by West End at 54.
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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.
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