Greater Vancouver home sales remained strong last month, with the second highest number of residential sales ever recorded for the month of September.The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,559 in September 2009, an increase of 3.4 per cent from the 3,441 sales recorded in August 2009, and an increase of 124.5 per cent compared to September 2008 when 1,585 sales were recorded."As homes sales in Greater Vancouver continued at an elevated pace in September it's encouraging to see that more homes were listed on the MLS® in the month than any other so far this year," Scott Russell, REBGV president said.
Last week I did an analysis of Vancouver's luxury condo sales and remarked that Q2 was considerably better than Q1 for number of solds, but the average sale price remained the same.
Q3 sales are better than Q2. A total of 26 (vs 20). Days on market 97 (vs. 105 in Q2). List price to sales price ratio 91% (vs. 90% in Q2) indicating buyers receiving an average of 9% off list price. Average sale price was $1,250 pr sq ft.(equal to Q2). The least expensive was $822 pr sq ft and the most expensive was over $1600 pr sq ft
Every Fall I attend Ozzie Jurock's "Real Estate Outlook" . On Saturday it was held at our new Convention Centre, which is truly a beautiful and very impressive building on the waterfront in Coal Harbour.
This is a quick summary of what I heard from Ozzie and Cameron McNeill of MAC Marketing Solutions The outlook for Vancouver real estate is cautiously optimistic, not full steam ahead yet, but bullish in the longer run. It's a good time to be buying the right deal now.
Vancouver's Downtown condo market has seen listings stabilize since April, sales stabilize since June and the average selling price unchanged since June. Monthly Sales remain the highest since Jan'08. Condos that "expired" and didn't sell increased from 33 to 42 (vs. 78 in Jan) and only 7 got re-listed. Average days on the market for condos that sold dropped to 25 and are the lowest since Jan'08. The average sale price for Downtown condos is $439,000 and higher than a year ago. The average $ pr sq ft for condos that sold is up to $611 and is the highest for this year. A whopping 80% of the sales were under $500,000 and only 2 over $1M. The supply is flat for the last 3 months at 2.3 months (vs.16 months in October). Best selling price range is under $500,000 and over $1M is the slowest. List price to sales price ratio is the highest for the year at 99%. The market will remain steady until we see an increase in listings
Listings -436. Least expensive $168,000 for 1 bd 558 sq.ft.. Most expensive -$6.6M for 3500 sqft in Residences on Georgia Sub-Penthouse.
Listings Inventory - 18 listings Downtown under $300,000. 92 between $300K and $400K. 106 listings between $400K and $500K. 124 condos listed between $500K and $700K. 47 listed between $700,000 and $1M. 46 listed over $1M, including 3 over $3M.
The average Canadian real estate price in August saw the big cities of Vancouver, Victoria, Calgary, Edmonton lower than a year ago. But Saskatoon, Winnipeg, Toronto, Ottawa, Montreal prices are higher than a year ago, as are all the Maritime Provinces & Newfoundland. The following is a release by CREA, you can hold your mouse over a specific city or province and view the current average price and the average price one year ago. Read the August summary.
Vancouver condominium specialist. Waterfront neighbourhoods of Coal Harbour, Kitsilano, Downtown, False Creek North, Coopers Landing, West End & Olympic Village. Marketing Vancouver since 1981. A bou
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