Susan Keevil

We have compiled sales and listings statistics for the period running from January 5th to January 12th, 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. Things have picked up after the holiday lull through the past three weeks.

Listing versus Sales update for January 5 - January 12

182 new listings in the Vancouver West Region with 102 (56%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

* Downtown Core: 49 (48%)
* Coal Harbour: 12 (12%)
* West End: 17 (16%)
* False Creek North: 24 (24%)

TOTAL : 102

27 total sales in the Vancouver West Region with 16 (59%) falling in the downtown areas.

Sales Per Sub-Area:

* Downtown Core: 7 (44%)
* West End: 4 (25%)
* Coal Harbour: 2 (13%)
* False Creek North: 3 (18%)

TOTAL : 16

Not surprisingly we see a notable increase in new listings this past week when compared to the lull caused by the holiday season in the three weeks prior. Buying figures have remained relatively static during this period, and will most likely see an increase in the next two weeks. The sales to listing ratio dips to [27 : 182] or 15%. Of those sales the majority of product moved in the $300,000 to $600,000 price bracket. New listing numbers returned to pre-holiday levels this week.

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

Cheers

Susan

Real Estate Board of Greater Vancouver releases December Stat Package entitled: “Slow home sales create window of opportunity.” Thought people might be interested! Analysts at the Board continue to do a great job.

VANCOUVER, B.C. – December 2, 2008 – November reductions in home sales and prices have helped improve affordability in Greater Vancouver. However, November also saw a corresponding decrease in the number of new homes coming onto the market.

In its most recent statistics release, the Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 69.7 per cent in November 2008 to 874 from the 2,883 sales recorded in November 2007.

Residential benchmark prices, as calculated by the MLSLink Housing Price Index®, declined 12.8 per cent between May and November 2008, amounting to an 8.3 per cent year-to-date price reduction for detached, attached and apartment properties in Greater Vancouver between November 2007 and 2008. In May 2008, the overall residential benchmark price was $568,411, compared to $495,704 in November 2008.

“Times of turmoil, from which we always emerge, offer excellent opportunities to buy quality real estate,” says REBGV president, Dave Watt.“For those whose personal finances allow them to get involved, there are opportunities in today’s housing market that have not been seen in many years.

“The local real estate market is not immune to the current economic challenges globally; however, Canada’s disciplined lending structure has kept the mortgage landscape steady in these uncertain times.”

New listings for detached, attached and apartment properties declined 10.8 per cent to 3,012 in November 2008 compared to November 2007, when 3,377 new units were listed. Active listings in November declined 4.7 per cent to 18,348 from the 19,257 active listings in Greater Vancouver in October 2008.

Sales of detached properties in November 2008 declined 69.8 per cent to 322 from the 1,067 units sold during the same period in 2007. The benchmark price for detached properties declined 8.6 per cent from November 2007 to $666,525. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 13.6 per cent.

Sales of apartment properties declined 67.9 per cent last month to 410 compared to 1,276 sales in November 2007. The benchmark price of an apartment property declined 8.6 per cent from November 2007 to $342,315. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined 12.2 per cent.

Attached property sales in November 2008 decreased 73.7 per cent to 142, compared with the 540 sales in November 2007. The benchmark price of an attached unit declined 6.4 per cent between November 2007 and 2008 to $426,287. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 11 per cent.*

*Article courtesy Realtylink, reference here.

We are pleased to announce an Open House date for the townhouse at 1155 W Cordova St. in the Coal Harbour neighbourhood of Vancouver, BC. We will be presenting this amazing space in downtown Vancouver this coming Sunday, January 11th from 2pm - 4pm.

1155 W Cordova St.
Listed at $1,795,000

Welcome to this sophisticated luxurious 3 level 2 bedroom Townhome in the coveted 2 Harbour Green. Nothing but the finest finishes, and materials were used throughout this 1887 sq ft residence including couture kitchens by Snaidero.
MORE

And please visit http://www.susankeevil.com for all your Vancouver real estate questions, concerns, and commentary!

Thanks and Happy New Year!

Susan

We are pleased to announce an Open House date for the townhouse at #101 1488 Hornby St. in the False Creek North neighbourhood of Vancouver, BC. We will be presenting this amazing space in downtown Vancouver this coming Sunday, January 11th from 2pm - 4pm.

#101 1488 Hornby St.
Listed at $749,800

WOW...need a large living space? Then look no further than the TERRACE at PACIFIC PROMENADE. With 1600 square feet of living space, 12 foot ceilings and floor to ceiling windows makes for an extremely bright and cozy home.
MORE

And please visit http://www.susankeevil.com for all your Vancouver real estate questions, concerns, and commentary!

Thanks and Happy New Year!

Susan

We have compiled sales and listings statistics for the holiday period running from December 29th - January 5th, 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. Please remember the holidays are a traditionally slow period for us, and thus figures are usually lower then annual averages.

Listing versus Sales update for December 29 - January 5

55 new listings in the Vancouver West Region with 35 (64%) falling in the downtown areas (including: West End, Downtown, Coal Harbour, and False Creek North sub-areas).

New Listings Per Sub-Area:

* Downtown Core: 16 (46%)
* Coal Harbour: 11 (31%)
* West End: 1 (3%)
* False Creek North: 7 (20%)

TOTAL : 35

26 total sales in the Vancouver West Region with 15 (60%) falling in the downtown areas.

Sales Per Sub-Area:

* Downtown Core: 8 (53%)
* West End: 4 (27%)
* Coal Harbour: 0 (0%)
* False Creek North: 3 (20%)

TOTAL : 15

As we can see downtown is still one of the more active real estate markets in the Vancouver West Region with listing ratios remaining at around the 65% mark, and sales ratios rising to 60% of regional aggregates. The sales to listing ratio in the period rises to [26 : 55] or 47%, which marks a slight dip from last periods numbers most likely due to the brief New Years slowdown that usually runs through the first week of January. Of those sales the majority of product moved in the $300,000 to $600,000 price bracket. New listing numbers maintained the relative 'low point' this past week as we expect they will through mid-to-late January.

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.susankeevil.com for up to date statistics, new listings, and all relevant real estate news!

Cheers

Susan