Downtown Vancouver Attached Property Market Update : February 16th - February 23rd

By
Real Estate Agent with RE/MAX Select Properties

We have compiled sales and listings statistics for the period running from February 16th to February 23rd, and released them in this easy to read format!  If you have any further questions or require more detail please get in touch with us.  Buyers continued to actively browse the market as showing activity again increased this week, and we continued to see an improved sales volume relative to the lull in late-2008.  Again we see a noted decrease in new supply, and a marginal increase in our sales figure.  This signifies a notable 'tightening up' of the downtown market.  As mentioned, we expect the increased buyer activity and great lending conditions to result in an increase in sales over the next four weeks.

Listing versus Sales update for February 16th - February 23rd

177
new listings in the Vancouver West Region with 87 (49%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

TOTAL : 87

87 total sales in the Vancouver West Region with 44 (51%) falling in the downtown areas.

Sales Per Sub-Area:

TOTAL : 44

Sales remained strong, moving from 86 sales to 87; the number remains well below seasonal norms, but we have seen stronger sales movement since December 2008.  As stated previously there has been an influx of buyer activity over the past three weeks as more individuals seem to be looking at price depreciation and favorable mortgage conditions. The sales to listing ratio also remained strong this past week sitting at [87 : 177] or 49%.

If you have any questions about specific figures or activity in your neighbourhood please do not hesitate to give us a call!

If you have any questions about specific figures or activity in your neighbourhood please do not hesitate to give us a call! And remember to visit www.vancouverrealtyonline.com for up to date statistics, new listings, and all relevant real estate news!

Vancouver Realty Online

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