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Market Update: January 2015 Stats

Under Coal Harbour Real Estate

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Written on January 13th, 2015

The region’s home sale and listing totals for 2014 both rank fifth when compared against the past 10 years of activity, while home prices increased. The latest SnapStats reports that residential property listings in Downtown Vancouver, Vancouver West, Vancouver East, North Vancouver and West Vancouver reached 3,076 on the Multiple Listing Service® (MLS®) in December 2014. This represents a 28.4% decrease compared to the 4,295 listings recorded in November. Last month’s sales were totalled 858 in December and the sales is 15.3% below November of 1,013.

 

Market in Downtown Vancouver 

The total number of properties currently listed for sale on MLS® system in Downtown Vancouver is 509 and 159 homes were sold in December. The sales price recorded in December is the lowest in past 6 month. The number of listing properties has declined 21.4% compared to November 2014. The sales-to-inventory ratio currently sits at 31.24 % average in the Sellers Market, which means 3.1 in 10 homes are selling. This states the 2.55% increased from 28.69% recorded in November.

 

The median sales price decreased 13.54% from November 2014 to $473,100. Homes are currently selling on the average of 2% below their listing price. The Most Active Price Range is in between $300,000 to $400,000 at 57.63% sales ratio as well as $1 million to $1.25 million at 23.68% sales ratio. The Sellers Best Bet is homes in Westend, Yaletown and up to 1 bedroom properties. The Buyers Best Bet is the following: Homes between $500,000 to $600,000; $8000,000 to $1 million, Coal Harbor and 3 bedrooms .

 

From the 13 Month Market Trend figure below, sales price in Downtown Vancouver has been unstable since July 2014, and we see a quick drop in December.

 

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Source: SnapStats Metro Vancouver Edition December 2014, SnapStats Publishing Co.
Market in Vancouver West 

Sales for both Detached and Attached properties in Vancouver West totalled 246 units out of 1,041 listings. This represents a 4.36% decrease in sales from November 2014, and Detached and Attached properties in Westside have 23.4% average sales ratio. The Vancouver West Detached Market is facing Sellers Market at 21% sales ratio average. The Most Active Price Band in the Detached Market has increased to $1.5 to $1.75 million with 70% ratio and $1.75 to $2.25 million range with 43% sales ratio, and Attached Market active price band has increased at $300.00 to $400,000 range.

 

Market in Vancouver East                                    

New listings in Vancouver East reached 683 units and sales are totalled 245 in December. Detached Market is facing Sellers Market with 46% sales ratio and the market is the most active at $700,000 to $900,000 with 95% sales ratio, which means 9.5 in 10 homes are sold. The Homes are sold at $1,034,044, and the price is the highest in past 12 months. The inventory of the Attached Market in Vancouver East reached 466, and 145 homes were sold. Homes are selling on average 4% below listing price. The market is facing Sellers Market at 31% sales ratio, and the most active at $700,000 to $800,000 with 45.45% sales ratio.

 

Market in North Vancouver

Total properties listed in MLS® has become 471 units in North Vancouver in December, and 143 units were sold. The sales ratio has increased to 32.44%, and this shows a 13.6% increase compared to October 2014. The number of sold properties has been decreasing since April 2014 in North Vancouver Detached Market, and it was the lowest in last month. The Most Active Price Range in November has increased at $1,000,000 to $1,250.000 with 100% sales ratio. The Attached Market has remained as the Sellers Market, and the sales ratio is at 24%.

 

Market in West Vancouver

Detached Market is Balanced Market now with 18% sales ratio, and the Attached Market has changed to Balanced Market with 15% sales ratio average in December. In Detached Market, the Most Active Price Band has remained to $1.5 million to $1.75 million band with 88.89% sales ratio, and homes are selling on average 7% below list price. The Buyers Market in West Vancouver is less active in December. In the Attached Market, the Most Active Price Range has shifted up to $600,000 to $700,000 with 25% sales ratio.

 

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