Vancouver Real Estate Analysis for Coal Harbour
December 17th, 2009 Categories: Coal Harbour
Vancouver real estate analysis for Coal Harbour in November saw sales and listings decrease, compared to October. Listings are at the lowest for the last 24 months. Days on market down to 61 and the lowest for the year. Coal Harbour inventory dropped to 4 months and also the lowest for the year. Both the average sale price and average $psf continue to climb. List price to sale price ratio stable at 96%. No more than 5 months of inventory in any price range, including over $2M. However, as Fairmont Estates close in January we expect to see a number of flippers. New condos on Coal Harbour’s waterfront now listed over $2000 psf, resales now at $1600 psf. Fairmont and Three Harbour Green are the last remaining new waterfront buildings. At some point the inventory must increase as more sellers revisit the market.
Listings -111. 23 listed under $500,000. 36 listed between $500,000 and $1M. 24 listed between $1M and $2M and 27 listed over $2M, including 5 over $5M (down from 9 last month, one sold and 4 expired) expect to see this number rise as Fairmont completes and the flippers hit the market.
33% are listed over $1M, down from last month
Least expensive $269,000 for a studio 420 sf. Least expensive 2 bedroom $569,000.
Most expensive- The Melville Penthouse at $10,800 for 5700 sq.ft. Over 2500 sq.ft. condo at One Harbour Green for $6,830,000, includes 3700 sqft of outdoor space ($2800 pr sq ft). Three Harbour Green is now pre-selling, n.e. corner on 19th floor $5,400,000 for 2600 sq.ft. Fairmont Pacific Rim Estates (Hotel/Condo) scheduled to open in January 2010. NW corner 2440 sf $5,850,000
2008 Listings -Jan 128,Feb 149, Mar 179, Apr 176, May 175, June 192, July 220, Aug 212, Sept 245, Oct 246, Nov 247, Dec 201
2009 Listings – Jan 220, Feb 202, Mar 191, Apr 172, May 172, Jun 158, Jul 146, Aug 130, Sept 124, Oct 139, Nov 111
Sales - 27. 10 sold under $500,000 . 8 sold between $500,000 & $1M . 4 between $1 & $2M and 5 sold over $2M. Most expensive $5.360M at Three Harbour Green ($2000 psf for a pre-sale on Coal Harbour’s last waterfront condo bldg)
2008 Sales - Jan 14, Feb 33, Mar 22, Apr 26 May 16, June 16, July 11, Aug 12, Sept 16, Oct 12, Nov 9, Dec 6
2009 Sales – Jan 8, Feb 11, Mar 17, Apr 33, May 31, June 35, July 35, Aug 38, Sept 25, Oct 30, Nov 27
Least expensive -$269,000 for a studio. Most expensive -$5.3 for a front suite 2600 sq.ft. at Harbour Green Two
Supply – (months) Feb 19, Mar 11, Apr 5, May 5.5, June 5.1, Jul 4, Aug 3.4, Sept 5, Oct 4.6, Nov 4
Days on Market for Solds 2008- Jan 67, Feb 44, Mar 39, Apr 47, Jun 71, Jul 73, Aug 83, Sept 53, Oct 54, Nov 41, Dec 75
Days on Market for Solds 2009 – Jan 70, Feb 47, Mar 75, Apr 86, May 78, June 57, Jul 80, Aug 67, Sept 62, Oct 68, Nov 61
2008 Average Sale Price - Dec $983,000, Nov $848,555 $Oct $910,291, Sept $1,513,062, Aug $1,569,772 , July 1,379,091, Jun 803,091, Apr $770,430, Mar 807,340, Feb $974,329, Jan $966,806
2009 Average Sale Price – Jan $785,687, Feb $1,013,590, Mar $708,000, Apr $807,748, May $858,700, June $931,725, Jul $1,540,000, Aug $895,000, Sept $1,129,000, Oct $1,191,800, Nov $1,240,000
2008Average Selling Price Pr Sq Ft - Dec 860 , Nov 742, Oct 835 , Sept 958
2009 Average Selling Price Pr Sq Ft – Jan $708, Feb $773, Mar $676, Apr $576, May $761, Jun $757, Jul $919, Aug $787, Sept $858, Oct $848, Nov $887
2008List Price to Sale Price Ratio - Dec 95% , Nov 92%, Oct 92%, Sept 93%
2009 List Price to Sale Price Ratio- Jan 91%, Feb 92%, Mar 91%, Apr 95%, May 95%, Jun 96%, Jul 94%, aug 97%, sept 96%, Oct 95%, Nov 96%
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