Vancouver Luxury Condo Sales Increase in Q3
October 3rd, 2009 Categories: Real Estate
Last week I did an analysis of Vancouver’s luxury condo sales and remarked that Q2 was considerably better than Q1 for number of solds, but the average sale price remained the same.
Q3 sales are better than Q2. A total of 26 (vs 20). Days on market 97 (vs. 105 in Q2). List price to sales price ratio 91% (vs. 90% in Q2) indicating buyers receiving an average of 9% off list price. Average sale price was $1,250 pr sq ft.(equal to Q2). The least expensive was $822 pr sq ft and the most expensive was over $1600 pr sq ft
There were 12 sales over $3M (vs. 3 in Q2). The most expensive was in Coal Harbour’s Shaw Tower which sold over $6.5M for 4000 sq ft on 28th floor at a record for this year of $1,625 pr sq ft. Two of these 12 sales were on Beach Avenue in the West End (selling at $1200 pr sq ft) and all the others were on Cordova Street – Coal Harbour’s waterfront buildings of Harbour Green 1 and 11. and the Shaw Tower. The Harbour Green sales were all suites on the front of these luxury condo buildings, selling between $1300 and $1500 pr sq ft.
Three Harbour Green had a sale at $1490 pr sq ft and is GST applicable.
Beach Avenue’s Eugina condo (the one with the tree on the top), which is one suite per floor sold in a day. 9th floor and sweeping English Bay views and West of Denman. Read my post on Beach Avenue condo buildings.
Currently 78 luxury Vancouver condos for sale over $2 million, of these 30 are listed over $3M and 9 listed over $5M. Most expensive is Shaw Tower’s Penthouse at $13.8M for over 7500 sq.ft. Next most expensive is the Melville Penthouse at $10,800 for over 5000 sq.ft. and new. Only 7 boast over 4500 sq.ft. View my 53rd floor 2 level Shangri-la Estates condo that is one of the seven! It’s breathtaking! Now only 3 Shangri-la Estates for sale as the flippers have flipped!
Residences on Georgia are pre-selling – luxury condo/hotel building – at $1900 pr sq ft. Estimated completion is 2012. GST applicable.
when you’re ready to buy or sell your luxury vancouver condo, contact Maggie , an experienced realtor since 1981. view my marketing plan
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