Vancouver Real Estate Analysis for False Creek North October 2008
November 17th, 2008 Categories: False Creek North
Vancouver real estate analysis for False Creek North saw listings flat in October and sales down. Days on the market increased from 40 in September to 62 and the average selling price increased to $864,980 from $631,944 in September. The average supply of condos in this waterfront hood increased from 16 months to 25 months. Best selling price range is between $700,000 and $1,000,000. No sales over $1.7M. By far the worst October in the history of this waterfront neighbourhood.
Listings – 250 (down from 257 in September)
13 listings under $400,000. 27 between $400,000 and $500,000. 94 listed between $700K and $1M. 51 listings between $1 and $2 million. 20 listings over $2 million.
Least expensive$318,000 for 529 sqft l bedroom. Most expensive is the Penthouse at 1000 Beach, now down to $14,800,000
2008 Listings - Feb 153, Mar 174, May 202, Jun 210, Jul 237, Aug 256, Sept 257, Oct 250
Sales – 10, down from 16 in September. Two sales sold under $400,000. One sold between $400,000 and $500,000. Five sold between $700K and $1M and two sold between $1.4M and $1.7M.
2008 Sales - Jan 24, Feb 39 , Mar 44 , Apr 40 , May 18, June 18, July 9, Aug 14, Sept 16, Oct 10
Record of sales for False Creek North during October – 2000 (14), 2001 (21) 2002 (23) 2003 (28) 2004(34) 2005 (41) 2006 (48) 2007 (44)Expired Listings – 38. Sept 35Supply - 6 months of supply for False Creek North condos under $400,000. 27 months supply for condos between $400,000 and $500,000. 18 months supply between $700K and $1M. 25 months supply between $1 and $2 million and no market in October for condos over $2 million.Average Price Jan $1,095,251, Feb $919,278, Apr $735,096, May $799,376, Aug $799,000, Sept $631,944, Oct $864,980Average Days on Market - May 47, Jun 59, Jul 51, Aug 56, Sept 40, Oct 62
List Price to Sales Price Ratio 93% . Sept 96%. This means the spread between list price and sale price is increasing.
Average Sale Price $ pr sq ft – $736. Sept $672
Reflections – clearly the market all but closed down and if you are a
when you’re ready to buy or sell Vancouver real estate or False Creek North, contact Maggie Chandler, an experienced realtor marketing Vancouver real estate since 1981
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