Vancouver Real Estate Analysis for Olympic Village August 2009
September 16th, 2009 Categories: Olympic Village, Real Estate
The Olympic Village is Vancouver’s last waterfront community. Vancouver real estate statistics for False Creek South (Olympic Village) saw listings increase 50% and sales decline substantially.
We can only track the activity for this neighbourhood through MLS, not the Developers who are pre-selling, but that will eventually change and then we can get a better feel for the neighbourhood. Most expensive listing $1,248,000 for 1141 sq.ft. sub penthouse (air conditioned) in Foundry. The increase in listings is due mainly to resales in Foundry at 1833 Crowe.
Listings – Feb 19, Mar 18, Apr 16, May 26, Jun 28, Jul 18, Aug 26
Sales - Feb 0, Mar 3, Apr 5, May 3, Jun 4, Jul 10, Aug 2
Average Days on Market for Solds – Mar 22, Apr 28, May 14, Jun 41, Jul 94, Aug 37
Average Sale Price - Mar $399,000 , Apr $325,000, May$429,665, Jun $424,750, Jul $378,150, Aug $401,500
Average $ pr sq ft - Mar $485, Apr $533, May $557, Jun $538, Jul $561, Aug $549
List Price to Sale Price Ratio - Mar 96%, Apr 97%, May 99%, Jun 98%, Jul 98$, Aug 98%
Neighbourhood Buildings – LOFT 495 at 495 W. 6th. LOFT 338 at 338 W. 8th. The VUE at 2520 Manitoba is now 2 years old. The ELEMENTS at 2515 Ontario was built in 2004. THE CALLADINE at 2626 Alberta completed in 2008. XL LOFTS at 438 W. 8th. CENTRO at 138 W. 6th. TURNBULL’S WATCH at 380 W. 10th
Just completed – Canada Line, which joines Vancouver International Airport to Downtown. On August 17, 2009 the ride was free and there was a 2 hour wait. check out the website
These condos will be pre-selling soon MAYNARDSBLOCK on W. 1st & Cambie , PINNACLELIVING at 20 E. 1st, 1700 Manitoba, 89 W. 2nd and 1827 Crowe
The Exchange at 1920 Wylie is an office building that is being converted to strata
Olympic village condos are now pre-selling. They will be completed late 2009 , occupied by the Olympians, then the Developer will clean them up and owners will complete on them by summer 2010. Starting at $499,000 – $5million.
Visit the City’s website on this neighbourhood
Subscribe to Millennium-Water’s ezine and learn more about the Olympic Village site, its industrial history, sustainability, planning, policy, water, amenities, the community
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