Vancouver’s False Creek North Market Analysis May 2008
June 10th, 2008 Categories: False Creek North
Vancouver’s False Creek North market in May experienced a whopping 70% increase in listings over Jan’08 and a 10% increase over April’08. Sales decreased 20% from Jan’08 and 50% less than April’08. The average price $799,376 (up from $736,098 in April and down from $1,095, 251 in Jan’08. Days on the market 47 (up from 37 in April)
Listings – 202 there were 61 list price reductions and 2 price increases.
15 are listed under $500,000. 115 are listed between $500,000 and $1 million. 52 listed between $1 and $2 million. 13 listed between $2 and 3 million and 3 are listed over $3 million.
The least expensive is $310,000 for a small one bedroom at 888 Pacific and the most expensive is $18,200 for the Penthouse at 1000 Beach which is 6900 sq.ft.
Sales 17 There were 5 sales under $500,000 and 9 between $500,000 and $1 million and 3 between $1 and $2 million.
The market under $500,00 has a 3 month supply. Between $500,00 and $1M there is a 12.7 month supply. Between $1 and $2 million there is 17 months supply. Apparently no market at present for False Creek North condos listed over $2 million.
2008 SALES – Jan 24 , Feb 39 , Mar 44 , Apr 40 , May 18
Average Days on Market -47
Sale Price to List Price Ratio – 97%
Average $ pr sq ft - 748
False Creek North Happenings The Erickson is out of the ground and is the final building for this neighbourhood.
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