Vancouver Real Estate Analysis for West End

November 15th, 2009 Categories: Real Estate, West End

Vancouver real estate in the West End saw October listings down and sales flat, resulting in 2.6 months of inventory, same as September. The days on the market for condos that sold increased from 39 to 47. The average selling price dropped to $616,000 due to fewer condos selling over $1M. 75% of the sales remain under $500,000. The list price to sale price ratio flat at 98% and the highest for the year. In February the market under $300,000 was selling the best -currently only 15% of the sales which have been dropping since their peak in May. Affordability factor kicking in?

Listings – 157. 12 listed under $300,000 (including 1 under $200,000). 25 listed between $300,000 and $400,000. 20 listed between $400,000 and $500,000. 55 listed between $500,000 and $1M. 38 listed between $1M & $2M. 7 listed over $2M

Least expensive -$198,00 for a leasehold one bedroom

Most expensive – $5,888,000 for 4500 sq-ft in Shangri-la. View it

Supply (months) - Oct 2.6, Sept 2.6. Aug 2.7 months, Jul 2.1, Jun 2.2, May 5.2, Apr 3.2, Mar 4.5, Feb 8, Jan 9.7

2008 Listings - Jan 168, Feb 172 , Apr 232 , May 241 , June 235, July 235, Aug 246, Sept 257, Oct 268, Nov 281, Dec 242

2009 Listings – Jan 253, Feb 274, Mar 254, Apr 228, May 201, Jun 185, Jul 164, Aug 169, Sept 171, Oct 157

2008 Sales – Jan 57, Feb 53, Mar 42, Apr 45, May 38, June 29, Jul 25, Aug 25, Sept 29, Oct 16, Nov 15, Dec 21

2009 Sales – Jan 26, Feb 34, Mar 56, Apr 73, May 88, Jun 84, Jul 75, Aug 62, Sept 65, Oct 64

Sales 64. Three sold under $200,000. 7 sold between $200,000 and $300,000. 21 sold between $300,000 and $400,000. 14 sold between $400,000 and $500,000. 12 between $500K and $1M. 7 sold over $1M. . Only 7% selling over $1M, down from 14% last month.. 75% selling under $500,000, same as last month

Least expensive - $180000 for a 99 year leasehold one bedroom

Most expensive - $3,680 for a Shangri-la Estates condos (a new record of $1541 psf)

2008 Average Days on Market – July 51, Aug 57, Sept 65, Oct 45, Nov 48, Dec 53

2009 Average Days on Market – Jan 69, Feb 44, Mar 67, Apr 51, May 49, Jun 49, Jul 43, Aug 29, Sept 39, Oct 47

2008 Average Sale Price – Jan $592,298. Aug $392,000 Sept $447,834, Oct $370,468, Nov $375,433, Dec $407,357

2009 Average Sale Price – Jan $447,226, Feb $477,545, Mar $443,480, Apr $521,593, May $482,585, Jun $482,017, Jul $449,000, Aug $497,000, Sept $695,432, Oct $616,500

In Oct’08 the average sale price was $370,000, in Oct’07 it was $541,000 in Oct’06 it was $414,000 and in Oct ‘05 it was $333,000.

2008 Average Selling Price $ pr sq ft - Dec $512, Nov $478, Oct $505 Sept $526, Jul $556, Jun $553, May $544,

2009 Average Selling Price $ pr sq ft – Jan $528, Feb $525, Mar $526, Apr $558, May $541, Jun $567, Jul $560, Aug $578, Sept $635, Oct $614

2008 List Price to Sale Price Ratio - Dec 93% ,Nov 93% , Oct 95%

2009 List Price to Sale Price Ratio – Jan 94%, Feb 94%, Mar 94%, Apr 96%, May 96%, Jun 97%, Jul 98%, Aug 98%, Sept 98%, Oct 98%

When you’re ready to buy or sell West E8%nd or Vancouver real estate, contact Maggie, an experienced realtor, marketing Vancouver homes since 1981

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This entry was posted on Sunday, November 15th, 2009 at 12:58 pm and is filed under Real Estate, West End. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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Iranga said:

Hi,
I am thinking about buying a one bedroom condo close to downtown. Do you think I should wait until the olympics are over? are there more listings in the summer than now?

thank you for your help.
Iranga

# 16 November 2009 at 10:07 pm