Vancouver-Condo Real Estate Newsletter 
June 2009
MORE SALES AND GREATER STABILITY!
The Vancouver real estate statistics for the past two months show there are more buyers and fewer properties
for sale which has created a stable and balanced market. In some areas, mainly the Westside detached house
market, we are seeing many multiple offers and sales prices that are higher than the list price. Low interest rates
have created a frenzy for Westside properties that are now priced much lower than a year ago. The spring
market is in full gear right now.
Condo sales have also increased dramatically, fuelled largely by first time buyers. However, even the mid to high
end condos are selling much quicker. Again, buyers are taking advantage of low interest rates and the fact that
prices are well down from one year ago.
To give us an idea of how much sales have improved, it is important to look at two important statistics; number
of sales and number of days on the market. On May 29th I compared the first three months of the year with the
last two months. On the Westside of Vancouver there were 346 sales of detached homes in the first 90 days of
the year and the average time on the market was 78 days. In the past 60 days there have been 351 sales and the
average time on the market is now 60 days. Westside condo and townhome sales in the first 90 days totaled
968 sales with an average of 57 days on the market. The past 60 days there have been 936 sales and the average
time on the market is 56 days.
On the Eastside of Vancouver there were 305 sales of detached homes in the first 90 days and the average
number of days on the market was 58. In the past 60 days there were 275 sales and the average number of days
on the market was 49. Condo and townhome sales in the first 90 days totaled 263 with an average of 61 days on the market. In the past 60 days there were 266 sales and the average days on the market was 46.
You can see a trend in these statistics; the number of sales has increased dramatically in the past few months
and the average number of days on the market has gotten smaller indicating a greater consumer confidence in
our housing market. I believe these statistics are a harbinger of what lies ahead in the next few months.
Enjoy
the sunshine!!
when it is time to sell…call me first!!!
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