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Greater Vancouver Property Prices Rise 12.4% from November 2008

Home values continued to edge upward in November as demand in the Greater Vancouver housing market remains well above seasonal norms.Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 12.4 per cent to $557,384 from $495,704 in November 2008. This price, however, remains down 1.9 per cent from the most recent high point in the market in May 2008 when the residential benchmark price sat at $568,411.“This unseasonably high level of demand can be attributed in large part to low interest rates, but it also speaks to the diverse range of housing options available in Greater Vancouver,” Scott Russell, Real Estate Board of Greater Vancouver (REBGV) president said. “Prospective homebuyers today have more options at different price levels than ever before.” Read more

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Downtown Vancouver Real Estate Analysis for August 2009

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. Read more

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Vancouver Real Estate Analysis for Kitsilano, July 2009

Kits condo market inventory continues to drop to the lowest level since we started this analysis 18 months ago.  Vancouver real estate market analysis for Kitsilano condos saw July sales up and higher than any of the last 18 months.   Listings dropped to a low of 78, half of what they wee a year ago. Average price for solds increased from $421,000 to $460,866 and for the last 2 months is higher than it was a year ago.   Average Days on the market for sold condos increased from 26 to 35,  List price to sale price ratio steady at 100%. Half the sales sold at or above list.  Average $ psf for sold condos up to $572. July saw an increase to 25% of the sales over $500,000.  Kits condo supply down from 9 months in January to a low of only 1.5 months. The one bedroom market is very tight with only 39 listings and sales in July.  There was an increase in listings that didn’t sell or were cancelled – tonal of 10.  Where does it go from here? Unless there is an increase in inventory prices will continue to climb.

Listings- 78. 8 listed under $300,000.  17 listed between $300,000 and $400,000. 25 listings between $400,000 and $500,000. 14 listings between $500,000 and $600,000 and 11 listed between  $600,000 & $800K. 3 listings between $800k and $900k.  Currently there is 2 studios listed, 39 are one bedrooms and 37 are 2 bedrooms. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Graphs for July 2009

The average price of houses, townhouses  dipped slightly in July, compared to June. Condo prices continued to climb. 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.  Both Listings and sales decreased in July. Normal summer market. Read more

by Maggie Chandler Maggie Chandler No Comments

Greater Vancouver Real Estate Sales Strongest July Ever

Just released from REBGV

The Greater Vancouver housing market gained further momentum in July with record sales levels and a continued strengthening of home prices.The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 4,114 in July 2009, becoming the highest volume of sales ever recorded within the REBGV for that month, outpacing the 4,023 sales in July 2003, which is the only other year that July sales exceeded the 4,000 mark.Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 9.2 per cent to $528,821 from $484,211. However, home prices compared to July 2008 levels are down 5 per cent.Home sales this summer are seasonally higher than normal, which is due in large part to the price correction that has taken place in the last year and low interest rates,” Scott Russell, REBGV president said. “Although wellpriced listings and lower-to mid-range priced properties remain in the highest demand across Greater Vancouver, recent activity from first-time buyers is beginning to boost demand in the “move-up” segment of the market.”New listings for detached, attached and apartment properties declined in Greater Vancouver, down 17.4 per cent to 5,041 in July 2009 compared to July 2008, when 6,104 new units were listed. At 12,482, the total number of property listings on the Multiple Listing Service® (MLS®) declined 5.8 per cent compared to last month and 34 per cent compared to July 2008.It is currently taking, on average, 48 days for a home to sell in the region. Today’s market activity differs by area and property type and it’s important to tap into local housing market expertise to understand why some properties are attracting multiple offers, while others are not moving,” Russell said.July 2009 home sales declined 3.4 per cent compared to June 2009, but are up 89.2 per cent when measured against the 2,174 sales recorded in July 2008.Sales of detached properties in July increased 95.2 per cent to 1,614 from the 827 detached sales recorded during the same period in 2008. The HPI benchmark price for detached properties declined 5.5 per cent from July 2008 to $711,702. Since the beginning of the year, the benchmark price for detached properties in Greater Vancouver has increased 9.8 per cent.Sales of apartment properties in July 2009 increased 76.8 per cent to 1,708, compared to 966 sales in July 2008. The benchmark price of an apartment property declined 4.3 per cent from July 2008 to $365,291. Since the beginning of the year, the benchmark price for apartment properties in Greater Vancouver has increased 9.6 per cent.Attached property sales in July 2009 are up 107.9 per cent to792, compared with the 381 sales in July 2008. The benchmark price of an attached unit decreased 4.6 per cent between July 2008 and 2009 to $452,085. Since the beginning of the year, the benchmark price for attached properties in Greater Vancouver has increased 6.8 per cent.

Bright spots in Greater Vancouver in July 2009 compared to July 2008:

DETACHED:    Burnaby up 121.7 per cent (153 units sold from 69)   North Vancouver up 53.3 per cent (115 units sold from 75)   Maple Ridge/Pitt Meadows up 60 per cent (160 units sold from 100)   Richmond up 140.2 per cent (221 units sold from 92)   Vancouver East up 66.4 per cent (208 units sold from 125)   Port Coquitlam up 236.4 per cent (74 units sold from 22)   Vancouver West up 104.5 per cent (180 units sold from 88)   South Delta up 203.1 per cent (97 units sold from 32)   West Vancouver up 108.1 per cent (77 units sold from 37)   Sunshine Coast up 60.5 per cent (69 units sold from 43)   ATTACHED:    Burnaby up 123.3 per cent (134 units sold from 60)   Maple Ridge/Pitt Meadows up 77.7 per cent (64 units sold from 36)   North Vancouver up 70 per cent (51 units sold from 30)   Vancouver West up 110 per cent (105 units sold from 50)   Richmond up 152.1 per cent (179 units sold from 71)   Vancouver East up 195.8 per cent (71 units sold from 24)   Port Coquitlam up 117.6 per cent (37 units sold from 17)   Maple Ridge/Pitt Meadows up 77.7 per cent (64 units sold from 36)   Coquitlam up 88.2 per cent (64 units sold from 34)    APARTMENTS:    Burnaby up 72.8 per cent (235 units sold from 136)   North Vancouver up 47.9 per cent (105 units sold from 71)   Richmond up 85.5 per cent (230 units sold from 124)   Vancouver East up 64.2 per cent (179 units sold from 109)   Vancouver West up 94 per cent (584 units sold from 301)   New Westminster up 70.6 per cent (116 units sold from 68)   Coquitlam up 62.3 per cent (86 units sold from 53)   Port Moody/Belcarra up 138.1 per cent (50 units sold from 21)  

 

The Real Estate industry is a key economic driver in British Columbia. In 2008, 24,626 homes changed hands in the Board’s area generating $1.03 billion in spin-offs.

When you’re ready to buy or sell  Vancouver real estate, contact Maggie, an experienced agent marketing Vancouver real estate since 1981. Keep up to date with Vancouver’s changing real estate market, subscribe via RSS or email.

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Analysis for Downtown June 2009

Vancouver’s Downtown condo market saw listings up slightly to 437  and are the lowest since January 2008.  52 condos expired and came off the market(vs. 78 in Jan) and only 6 got relisted. Sales spiked from 117 to 176 and are by far the highest for the last 18 months.  Average days on the market for condos that sold dropped to 32. The average price for Downtown condos that sold is up to $421,929 but lower than a year ago. The average $ pr sq ft for condos that sold is up to $595 and is the highest for this year.  A whopping 83% of the sales were under $500,000 and only 2 over $1M. Downtown Vancouver only has a 2.4 months supply of condos (vs.16 months in October). Best selling price range is under $400,000. Market also tight between $400,000 to $500,000.  List price to sales price ratio now up to 98%

Listings -437. Least expensive $188,000 for 1 bd 558 sq.ft. ($356 pr sq ft).bank sale sold “as is, where is”. Most expensive –$3.4M assignment for the Atelier Penthouse on Robson (2700 sqft)

Listings Inventory –  32 listings Downtown under $300,000.  103 between $300K and $400K.  94 listings between $400K and $500K.  131 condos listed between $500K and $700K.  30 listed between $700,000 and $1M.  36 listed between $1M and $2M and 6 over $2M.

Supply – 1.4 months under $300,000 (down from 11 months in December).  1.3 months of inventory for Vancouver Downtown condos listed between $300,000 and $400,000.  2 months supply for condos listed between $400K and $500K .  5 months supply between $500K and $700K. 15 months between $700,000 & $1,00,000. 36 months between $1 & $2M and 6 months over $2M. Read more

by Maggie Chandler Maggie Chandler No Comments

BCREA Graph Shows Vancouver Homes Sales Climb for 5th Consecutive Month

The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province rose 40 per cent to 9,970 units in June 2009 compared to the same month last year. Activity in the month of June marked the fifth consecutive month of rising sales and the highest level of activity since January 2008, on a seasonally adjusted basis. 

“Housing markets around BC continued to post higher sales in June, fuelled by attractive mortgage rates and lower prices,” said Bryan Yu, BCREA Economist. “The larger urban regions of Greater Vancouver and Victoria exhibited balanced market conditions in June, while others have recorded improved market stability. Stronger demand and a decline in home listings are stabilizing home prices in many BC markets.”

Year-to-date, MLS® residential sales dollar volume was down 20 per cent to $16.3 billion over the same period last year. A total of 36,329 units were sold in the first six months of 2009, down 15 per cent from 2008, while the average MLS® price declined 5 per cent to $448,381.

For more information, please contact: 

Cameron Muir Damian Stathonikos

when it’s time to buy or sell Vancouver real estate, contact Maggie, an experienced realtor marketing homes since 1981

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Sales for June 75% Higher than June 2008

REBGV just released Vancouver real estate numbers for June, as follows.

The combination of low interest rates and more affordable pricing helped propel Greater Vancouver home sale numbers to the second all-time highest total for the month of June.The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties increased 75.6 per cent in June 2009 to 4,259, from the 2,425 sales recorded in June 2008. The figure is just short of the record-breaking 4,333 sales which occurred in June 2005.New listings for detached, attached and apartment properties declined 17.9 per cent to 5,372 in June 2009 compared to June 2008, when 6,546 new units were listed. However, new listings increased 13.5 per cent from May to June of this year. Total active listings in Greater Vancouver currently sit at 13,252, down 27 per cent from June 2008 and 2.9 per cent below the active listings count at the end of May 2009.“Price reductions and low interest rates have created an improvement in affordability, which is causing the number of sales to rise to levels comparable to 2003 to 2007,” Scott Russell, REBGV president said. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Sales in May Up from May 2008

The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 3,524 in May 2009, an increase of 17.4 per cent from the 3,002 sales recorded in May 2008, and an increase of 18.9 per cent compared to last month.

Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 4.5 per cent to $506,201 from $484,211. However, home prices compared to May 2008 levels are down 10.9 per cent.“The increased level of buyer activity over the last few months has had a stabilizing effect on home prices across our region,” Scott Russell, REBGV president said. “MLS® data continues to show a trend toward a balanced market in the region.”New listings for detached, attached and apartment properties declined in Greater Vancouver, down 36 per cent to 4,733 in May 2009 compared to May 2008, when 7,390 new units were listed. At 13,641, the total number of property listings on the Multiple Listing Service® (MLS®) declined 4.7 per cent compared to last month and 16 per cent compared to May 2008.Sales of detached properties increased 16.5 per cent to 1,402 from the 1,203 detached sales recorded during the same period in 2008. The HPI benchmark price for detached properties declined 11.8 per cent from May 2008 to $680,320.Sales of apartment properties in May 2009 increased 17.2 per cent to 1,458, compared to 1,244 sales in May 2008. The benchmark price of an apartment property declined 10.2 per cent from May 2008 to $349,987.Attached property sales in May 2009 are up 19.6 per cent to 664, compared with the 555 sales in May 2008. The benchmark price of an attached unit decreased 9 per cent between May 2008 and 2009 to $435,848. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Statistics for Downtown March 2009

dt mar 09

Vancouver’s Downtown condo market saw listings drop 20% in March compared to February and are the lowest since January 2008.  69 condos expired and came off the market (vs. 78 in Jan). Sales increased 40% to 129 and are the highest since Mar’08 and have quadrupled since last December.  Average days on the market for condos flat at 51. The average price for Downtown condos that sold jumped to over $400,000.  The average $ pr sq ft for condos that sold down a bit to $531.  A whopping 85% of the sales were under $500,000.   Downtown Vancouver only has a 3.3 month supply of condos (vs.16 months in October). Best selling price range is under $400,000.   Market tight between $400,000 to $500,000 also. More sales occurring in higher price ranges (move up sellers?). Market definitely improving!

Listings -426. Least expensive $210,000 for a studio under 461 sq.ft. ($455 pr sq ft). Most expensive –$2.895 million for 1966 sq-ft at 1055 Homer

Listings Inventory – 42 listings Downtown under $300,000. 111 between $300K and $400K.  88 listings between $400K and $500K.  71 condos listed between $500K and $600K, 70 listed between $600,000 and $1M and 44 listings in false creek north over $1 million.

Supply – less than 2 months supply for condos under $300,000 (down from 11 months in December).   Less than one and a half months of inventory for Vancouver Downtown condos listed between $300,000 and $400,000. 4 months supply for condos listed between $400K and $500K . 8  months supply between $500K and $600K. 11 months between $600,000. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Statistics for False Creek North March 2009

fcn mar 09

Listings Down! Sales Up! Vancouver real estate analysis for False Creek North in March(compared to February) saw listings down to 231 from 240.   Sales up to 28 from 18. Days on the market up from 41 to 77.  The average selling price down from $672,000 to $592,388.  Average $ psf is down to $600. The average supply of condos in this waterfront hood dropped to 8 months from 13 in February and 17 in January.   No sales over $1 million. This neighbourhood is least supplied under $400,000.  The most number of sales were between $800k and $1M.  

Listings – 231.  8 listings under $400,000 (including 2 under $300,000. 36 listed betweeen $400,000 & $500,000. 49 listed between $500,000 and $700,000.  41 listed between $800,000 and $1 million. 907sold over $1 million.

Least expensive $259,00 for a studio at 910 Beach.  This sold new in 1997 for $169,000. Most expensive The 6900 sq.ft. Penthouse at 1000 Beach.  Now listed at $9,800,000.

2008 Listings – Feb 153, Mar 174, May 202, Jun 210,  Jul 237, Aug 256, Sept 257, Oct 250, Nov 246, Dec 229

2009 Listings – Jan 258, Feb 240, Mar 231

Sales –  28.  Five sold under $400,000. 7 sold betwen $400,000 & $500,000.  7 sold between $500,000 & $700,000. and 9 between $800,000 and $1 million. No sales over $1 million. Read more

by Maggie Chandler Maggie Chandler No Comments

Affordability Drives Vancouver Real Estate Sales Higher

British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC declined 35 per cent to $2.3 billion in March, compared to the same month last year. Residential unit sales declined 25 per cent to 5,464 units during the same period. The average MLS® residential price in the province was $424,122 in March, down 12 per cent from March 2008. 

“While fewer MLS® residential sales were recorded last month compared to March 2008, home sales actually climbed 24 per cent from February to March on a seasonally adjusted basis, the second consecutive month of gains,” said Cameron Muir, BCREA Chief Economist.

A significant increase in affordability helped fuel housing demand last month. “Reduced mortgage interest rates have effectively doubled the impact of lower home prices on affordability,” added Muir. While the average sales price in BC declined 12 per cent from a year ago, the monthly payment on the average priced home was 24 per cent lower. “Housing is now more affordable than at any time in the last three years,” noted Muir, BCREA’s Chief Economist

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by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Market Improves Again in March 2009

The Metro Vancouver housing market experienced a movement away from volatility and toward stability to start the spring season.

Home sales in March 2009 returned to levels witnessed at the beginning of the decade, with 2,265 sales recorded across Metro Vancouver for the month, a 53 per cent increase over February but a 24.4 per cent decrease over March 2008, when 2,997 sales were recorded.

 

Since 1999, March sales have increased 31 per cent, on average, over the month of February. March 2009 marks the second consecutive month that sales have outperformed the ten-year average for this month-over-month comparison.

 

There’s more confidence in the housing market today than we were seeing late last year. Sales activity is rising to more typical levels given the season, and the number of homes being listed for sale is levelling off,” said Scott Russell, president of the Real Estate Board of Greater Vancouver (REBGV). Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Analysis for Downtown, February 2009

dt feb 09

Vancouver’s Downtown condo market saw listings flat in February compared to January.  69 condos expired and came off the market (vs. 78 in Jan). Sales doubled from 52 to 90 and have tripled since December.  Average days on the market for condos that sold dropped  from  56 to 49. The average price for Downtown condos that sold was down slightly from $413,171 to $371,831. The average $ pr sq ft for condos that sold stable at $544 vs. $547 in Jan.  Two thirds  of the sales were under $400,000.   Downtown Vancouver has a 6 month supply of condos (vs.16 months in October). Best selling price range is under $400,000.   Market definitely improving.

Listings -548. Lease expensive $210,000 for a studio under 461 sq.ft. ($455 pr sq ft). Most expensive –$2.895 million for 1966 sq-ft at 1055 Homer

Listings Inventory – 55 listings Downtown under $300,000. 153 between $300K and $400K.  119 listings between $400K and $500K. 90 condos listed between $500K and $600K, 85  listed between $600,000 and $1M and 46 listings in false creek north over $1 million.

Supply – less than 3 months supply for condos under $300,000 (down from 11 months in December).   Less than 4 months of inventory for Vancouver Downtown condos listed between $300,000 and $400,000. 6 months supply for condos listed between $400K and $500K . 12 months supply between $500K and $600K and only one sale over $6000,000 Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Analysis for False Creek North, Feb’09

fcn feb 09

Listings Down! Sales Up! Vancouver real estate analysis for False Creek North in Febuary(compared to January) saw listings down to 240 from 258.   Sales up from 15 to 18. Days on the market down from 53 to 41. The average selling price up from  $624,000 to $672,000.  Average $ psf is also up. The average supply of condos in this waterfront hood dropped from 17 months in January to 13 in February.  This neighbourhood is least supplied between $500,000 & $700,000 and this price range had the most number of sales. The market is stablizing and what’s selling is moving from bottom end to middle price range. This occurs as the first time buyers allow the first time sellers to move up.

Listings – 240. 50 listings in False Creek North under $500,000. 127 listed between $500,000 and $1M.  51 listed between $1 and $2 million. 12 sold over $2 million. Least expensive $298,00 for a l bedroom at 888 Pacific which is 598 sq.ft. (under $500 pr sq ft.). This sold new in 1994 for $166,000. Most expensive The 6900 sq.ft. Penthouse at 1000 Beach.  Now listed at $9,800,000.

2008 Listings – Feb 153, Mar 174, May 202, Jun 210,  Jul 237, Aug 256, Sept 257, Oct 250, Nov 246, Dec 229

2009 Listings – Jan 258, Feb 240

47 listed under $500,000. 44 condos listed between $500,000 and $700,000.  78 listings between $700,000 and $1 million. 62 listed between $1 and $2 million and 14 listings over $2 million Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Market Analysis for West End February 2009

we feb 09

Vancouver real estate in the West End saw increased optimism in the New Year with listings  up slightly from 253 in January to 274 in February, having reached a record high for the year in November.  Sales were up from 26 to 34 having reached a  record low for the year in November.  The days on the market for condos that sold dropped from 69 to 44. The average selling price increased from $447,226 to $477,545 and has increased for 4 consecutive months. and is a 20% drop since January 2008.  75% of the sales were under $500,00 and the highest price was $2,480,000 in the Shangr-la. The list price to sale price ratio is flat.   The West End has 8 months of  inventory on the market, down from 9.7 months in  January.  The average $ pr sq ft for those West End condos that sold is stable at $525.  The market under $300,000 has the most demand. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Analysis for Coal Harbour February 2009

ch jan 09

 Vancouver’s Coal Harbour statistics for February show listings dropped from 220 to 212 and are back to the level they were in June.  Sales up to 11, from 8 in January.   Days on market dropped to 47, from 70 in January.  Average selling price $1,013,590 for condos that sold.   Coal Harbour has 19 months of supply on the market, down substantially. The average sale price in Vancouver’s Coal Harbour  is up for the first time since June 2008.

Listings – 212.  60% are listed over $1M, up from 45% in January.

Least expensive $268,000 for a studio ($638 pr sq ft).  Least expensive 2 bedroom $499,000 for 800 sq.ft.

Most expensive $16,800,000 for the Shaw Tower Penthouse ($2248 pr sq ft). The $12,000,000 for the Melville Penthouse ($2100 pr sq ft).  Over 2500 sq.ft. condo at One Harbour Green for $7,185,000, includes 3700 sqft of outdoor space ($2800 pr sq ft). Three Harbour Green is now pre-selling, n.e. corner on 19th floor $5,400,000 for 2600 sq.ft. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Analysis for Kitsilano February 2009

kits feb 09

Vancouver real estate market analysis for Kitsilano condos saw sales more than double in February, compared to January. February saw the highest number of sales since July last year.  Listings flat at 107 from 104 in January. Average price for sold condos down to $417,000.  Average Days on the market for sold condos down to 38. List price to sale price ratio flat.  February saw a bottom end market with 23 of the 28 sales under $500,000 in this hood. Kits condo supply down from 9 months to 3.8 months. No market for Kits condos over $650,000. Market definitely levelling.

Listings  -107. 8 listed under $300,000. 35 listed between $300,000 and $400,000. 30 listed between $400,000 and $500,000. 20 listings between $500,000 and $600,000 and 14 listed over $600,000. Least expensive $244,000 for 453 sq.ft. studio 

2008 Listings –Dec  117 , Nov 171,  Oct  187, Sept 184, Aug 166, July 159, Jun 157, May 145, Apr 130

2009 Listings – Jan 104, Feb 107

Sales -28. Three sold under $300,000. 10 sold between $300,000 and $400,000 , 10 sold between $400,000 and $500,000. Three sold between  $500K and  $600K and two sold over $600,000. Least expensive was $245,000 for 540 sq ft one bedroom ($453 pr sq ft) which sold for $230,000 in spring 2005. Least expensive 2 bedroom $360,000 for 870 sq.ft. Most expensive $631,000 for 1350 sq.ft.  This condo last sold for $380,000 in spring 2003. Read more

by Maggie Chandler Maggie Chandler No Comments

Vancouver Real Estate Analysis for False Creek North, January 2009

fcn jan 09

Vancouver real estate analysis for False Creek North in January 2009 saw listings up from 229  in December 2008 to 258.   Sales more than doubled from December. Days on the market down from  61 to 53. The average selling price dropped from $947,259 to $624,000.  The average supply of condos in this waterfront hood dropped from 38 months to 17.  This neighbourhood is least supplied under $500,000 which had the most number of sales.

Listings – 258. 50 listings in False Creek North under $500,000. 117 listed between $500,000 and $1M.  51 listed between $1 and $2 million. Least expensive $298,00 for a l bedroom at 888 Pacific which is 598 sq.ft. (under $500 pr sq ft.). This sold new in 1994 for $166,000. Most expensive The 6900 sq.ft. Penthouse at 1000 Beach, which was originally listed in 2007 for $18 million. Now listed at $9,800,000.

2008 Listings – Feb 153, Mar 174, May 202, Jun 210,  Jul 237, Aug 256, Sept 257, Oct 250, Nov 246, Dec 229

2009 Listings – Jan 258

13 listed under $400,000. 36 condos listed between $400,000 and $500,000. 129 listings between $500,000 and $1 million. 66 listed between $1 and $2 million and 15 listings over $2 million Read more

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