The number of home sales in Greater Vancouver increased significantly last month compared to August 2008 and moved closer in line with the active summer months experienced between 2003 and 2007.The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver increased 119.5 per cent in August 2009 to 3,441 from the 1,568 sales recorded in August 2008 and increased 1.7 per cent compared to August 2007. New listings for detached, attached and apartment properties increased 4.9 per cent to 4,544 in August 2009 compared to August 2008 when 4,331 new units were listed. Total active listings in Greater Vancouver currently sit at 11,937, down 33 per cent from August 2008."The return of confidence to our market has brought a high volume of home sales over the last few months and has also made determining home prices a little more challenging," said Scott Russell, REBGV president. "The number of residential home sales this summer has been comparable to activity seen in the five years preceding 2008. While that's great news, from the variations in activity we're seeing across areas I'd say the market is still trying to find its own balance
The average price of Greater Vancouver houses increased in August, compared to July. Townhome and Condo prices dipped slightly. Prices have been rising since March. The graph shows the houses on the top, townhomes (middle) and condos (bottom) average price from 1977 to present. The Vancouver market peaked in 1981, 1990, 1995 and 2008. Vancouver condos didn't appreciate much between 1990 and 2002 but they did between 2002 and 2008 and prices are back to where they were in mid to late 2006. Listings decreased in August and sales were up slightly, compared to July.
Following are the stats for Vancouver West Side
Listings - in Aug there were a total of 991 new listings vs 1128 in June and 1069 in July. In Aug 2008 there were 874 new listings. Total new listings for Jan-Aug 2009 were 7,833 Same period for 2008 were 10,068
Sales - in August there were a total of 795 west side sales vs 949 in June and 774 in July. In Aug 2008 there were 317. Year to date sales 5,283 . Same period last year 4,088.
just 2 years old & featuring NE corner with mountain views. 2268 W. Broadway. Conveniently situated on the bus route with LondongDrugs and IGA supermarket. Walking distance to 4th avenue shops and restaurants and Kits Beach - recently voted the 3rd sexiest beach in the world!
Come home to this 2 bedrooms, 2 baths den, plus a balcony overlooking the gardens & BBQ area. Engineered hardwood floors, gourmet kitchen with granite countertops & stainless steel appliances. New Home Warranty. Gordon & Kitsilano Catchment. Immediate possession. Sharply priced at $578,000 for 915 sq.ft.
Vancouver real estate in the West End saw July listings drop to 164, having reached a record high of 281 in November. Sales peaked in May at 88 and dropped to 75 in July. The days on the market for condos that sold dropped to 43, the lowest for the year. The average selling price was $449,000. 75% of the sales were under $500,00 and only 3.5% were over $1M. The list price to sale price ratio increased to 98%, the highest for the year. The West End inventory dropped again to just only 2.1 months, down from 9.7 months in January. The average $ pr sq ft for those West End condos that sold is down slightly to $560, compared to $471 in November. The market under $500,000 has the most demand but $500-$1M doing better. In February it was the market under $300,000 that was selling the best. We shall see what Fall brings.
Listings - 164. 25 listed under $300,000 (including 5 under $200,000). 51 listed between $300,000 and $400,000. 25 listed between $400,000 and $500,000. 35 listed between $500,000 and $1M. 20 listed between $1M & $2M. 13 listed between $2M
Least expensive -$189,00 for a leasehold studio
Most expensive - $5,888,000 for 4500 sq-ft in Shangri-la. View it
Supply - 2 months
The Olympic Village is Vancouver's last waterfront community. Vancouver real estate statistics for False Creek South (Olympic Village) saw listings drop 38% and sales nearly tripled for July 2009. All but one sale was under $500,000. We can only track the activity for this neighbourhood through MLS, not the Developers who are pre-selling, but that will eventually change and then we can get a better feel for the neighbourhood. Most expensive listing $1,248,000 for 1141 sq.ft. sub penthouse (air conditioned) in Foundry
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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