About Vancouver's West End

Vancouver real estate in the West End saw December listings down to 242 from 281 in November, having reached a record high for the year in November. Sales were up from 15 to 21 , having reached a record low for the year in November. The days on the market for condos that sold was up from 48 to 53, which isn't the highest for the year. The average selling price increased from $375,433 to $407,357 and is a 30% drop since January and is equal to the price in Dec'06. Half the sales were under $400,00 and the highest price was $785,000. There were more sales over $500,000. The list price to sale price ratio did not change. The West End has 11 months of inventory on the market, down from 18 in November. The average $ pr sq ft for those West End condos that sold increased to $512, having dropped under $500 pr sq ft in November for the first time this year. You can now buy condos in the West End under $200,000, prices not seen since end of 2004!! Most demand under $300,000 and least demand over $800,000.

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Vancouver real estate in the West End saw November listings up from October to 281 and is a record high for the year. Sales were down from 16 to 15 and is a record low for the year. The days on the market for condos that sold dropped 65 to 45. The average selling price increased from $370,468 to $375,433 and is a 35% drop since January. 9 of the sales were under $400,00 and the highest price was $732,000. The West End has over 18 months of inventory on the market. The average $ pr sq ft for those West End condos that sold dropped under $500 for the first time this year.

Listings - 281

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

Sales - 15

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Vancouver real estate in the West End saw October listings up a tad from 257 in September to 268. Sales were down from 29 in September to 16. The days on the market for condos that sold dropped 65 to 45. The average selling price dropped from $447,834. to $370,468, the lowest for the year and a 35% drop since January. Half the sales were under $300,000 and 90% of the sales were under $400,000. The West End has over 16 months of supply.

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VANCOUVER, B.C. www.AlphonseQ.com The "Q" Report

November 3, 2008 - Housing price reductions across Greater Vancouver over the last six months have eliminated price gains witnessed in the first quarter of 2008.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential benchmark prices, as calculated by the MLSLink Housing Price Index®, declined 8.8 per cent between May and October 2008, resulting in a 3.9 per cent year-to-date price reduction for detached, attached and apartment properties in Greater Vancouver between Octobers 2007 and 2008. In May 2008, the overall residential benchmark price was $568,411, compared to $518,668 in October 2008.

"Home sales are not keeping pace with the positive economic conditions in BC," said REBGV president, Dave Watt. "That's a direct result of a loss of consumer confidence in the overall market. Accordingly, today's housing market is characterized by moderating home prices and wide selection. It's definitely a buyer's market."

Residential property sales in Greater Vancouver declined 55 per cent in October 2008 to 1,364 from the 3,028 sales recorded in October 2007.

Active listings totalled 19,257 in October 2008, a three per cent decline from the 19,852 active listings reported in September 2008. New listings for detached, attached and apartment properties increased one per cent to 4,867 in October 2008 compared to October 2007, when 4,819 new units were listed.

Sales of detached properties in October 2008 declined 56.5 per cent to 493 from the 1,133 sales recorded during the same period in 2007. The benchmark price for detached properties declined 4.7 per cent from October 2007 to $695,962. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 9.8 per cent.

Sales of apartment properties in October 2008 declined 52.7 per cent to 647, compared to 1,368 sales in October 2007. The benchmark price of an apartment property declined 3.5 per cent from October 2007 to $358,359. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined eight per cent.

Attached property sales in October 2008 are down 57.5 per cent to 224, compared with the 527 sales in October 2007. The benchmark price of an attached unit declined 1.4 per cent in Greater Vancouver between October 2007 and 2008 to $448,152. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 6.4 per cent.

Oyama Sausage Company Canadian Cheese Festival - November 7,8,9

I haven't got a lot of info on this one, but next Friday, Saturday & Sunday is the Canadian Cheese Festival at the Oyama Sausage Company (annoying flash site) in the Granville Island Market. The Oyama Sausage Co. is one of our family's favourite stops in the market with their free samples and delicious nitratrate free deli meats and sausages. I am sure the cheese is excellent too, but the kids don't appreciate that kind of thing yet. I am hoping to have more info on this one soon.

This post originally appearred on my False Creek blog, the False Creek Comet.