Westside Vancouver Detached Property Market Update : August 24th – August 31st

We would like to present ‘Westside Detached Stat Package’ for the week of August 24th – August 31st.

The Westside detached market finished with relative strength with improvements in the final weeks of August; though we did witness a slight drop off in sales volume to finish the month. Sales transaction volume fell slightly after posting gains in the two previous weeks, well new listing supply remained relatively strong. New listings moved from 67 new detached active listings in the Vancouver West Region to 66. Sales volume lagged slightly this past week with 53 detached sales (to 73 the previous week). Not surprisingly, performance should remain relatively static through third quarter 2009 prior to a pre-Olympic surge in the late fourth quarter flowing into Q1 2010. Buyer competition remains active in these areas, and thus it may be a solid time to consider listing your home if you have been thinking about proceeding with a sale. The demand is especially acute in Kitsilano where supply has definitely tailed off – especially in the Kits Point areas, and other sectors north of W 4th Ave. Late summer tends to be a rather ‘down time’ for our detached markets due to family vacations, and relativly instability prior to the onset of the school year in September.

Please note if your neighbourhood is not included in the weekly list it indicates there were zero (0) new listings in your area for that period.

The 66 new detached active listings on the Westside were distributed as follows:

Arbutus (AR) : 4
Cambie (CA) : 2
Dunbar (DU) : 7
Kerrisdale (KE) : 5
Kitsilano (KT) : 8
MacKenzie Heights (MH) : 2
Marpole (MR) : 10
Oakridge (OA) : 3
Point Grey (PG) : 7
Quilchena (QU) : 1
Shaughnessy (SH) : 6
Southlands (SL) : 2
South Granville (SG) : 5
University (UL) : 2

65 total new detached listings on the Westside from August 24th – August 31st.

This past week there were 53 detached sold listings (a drop compared to the 73 sold listings the previous week) in the Vancouver West Region. Please note if your neighbourhood is not included in the weekly list it indicates there were zero (0) sales in your area for that period.

The 53 detached sold listings on the Westside were distributed as follows:

Arbutus (AR) : 5
Dunbar (DU) : 6
Fairview (FA) : 1
Kerrisdale (KE) : 4
Kitsilano (KT) : 4
Mackenzie Heights (MH) : 2
Mount Pleasant (MP) : 1
Marpole (MR) : 3
Oakridge (OA) : 2
Point Grey (PG) : 4
Quilchena (QU) : 1
South Granville (SG) : 8
Shaughnessy (SH) : 1
Southlands (SL) : 5
S.W. Marine (SW) : 3
University (UL) : 2

53 total detached sales on the Westside from August 24th – August 31st.

New listing supply ended on a relatively strong note, well we saw a notable drop off in confirmed sales to end August. The mid-to-late Summer months tend to be particularly low-periods for the detached markets due to social factors (ie / summer vacation, etc.) and thus we anticipate a relatively stable market through October prior to a resurgence in the Fall which should carry us through Quarter 4 2009 and the 2010 Winter Olympic Games.

If you are interested in more detailed breakdowns of sales versus listing ratios for your area please do not hesitate to get in touch with us! And remember to visit http://www.susankeevil.com and http://www.vancouverrealtyonline.com for even more real estate updates and info!

Westside resident? Check out http://www.kitsilanoshomes.com for information, and news specific to your neighbourhood!