january 2013 vancouver real estate sales absorption report
DESCRIPTION
January 2013 month-end Vancouver real estate statistics for Downtown, North Vancouver, West Van, and Vancouver's East and West side.TRANSCRIPT
488 Drake Street, Vancouver, BC V6B 5S9
jefffitzpatrick.com | [email protected] | 604.612.6120
JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION
VANCOUVER, BC | JANUARY 2013
Vancouver real estate market statistics to keep you
ON TOP OF THE MARKET
SALES ABSORPTION REPORT
488 Drake Street Vancouver, BC V6B 5S9
jefffitzpatrick.com | [email protected] | 604.612.6120
JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION
| 1
INTRODUCTION | JANUARY 2013
Our monthly sales absorption report is designed to keep you up-to-date and on top of the market. Every report analyzes the real estate markets
in North and West Vancouver, Downtown, and the East and West side of the city in terms of monthly sales, listings, and absorption rates. The
data is further broken down by price, residential type and the number of bedrooms. In addition to statistics, a graph presents the past two years
of sales, and a featured properties page showcases our most recent listings and sold properties. To help you better understand the contents of
the report, we’ve compiled a list of definitions and explanations of certain statistics terminology:
ACTIVE LISTINGS The number of properties on the market. This number only includes those listed on the Multiple Listing Service
(MLS); properties not listed on the MLS, such as “For Sale By Owner”, are not accounted for. This number is dynamic and constantly
changes; new properties get listed and others are sold, terminated, cancelled, or expire.
ATTACHED PROPERTY A property that shares a common wall with another property such as a condo, apartment, townhome, duplex,
triplex, etc.
DAYS ON MARKET (DOM) The number of days a listing is active on the MLS before it is sold. Our report showcases the average days
on market which is calculated by adding all the days on market of each listing and dividing it by the number of listings for that month. In a
buyer’s market, the DOM is generally higher because inventory takes longer to sell and in a seller’s market, the DOM is lower.
DETACHED PROPERTY A property with no shared walls; a free standing house.
MONTH’S SUPPLY The number of months it would take at the current absorption rate (see below), assuming no new properties are
listed, for all of the currently listed properties to sell. To calculate month’s supply, take the total number of active listings in a month
divided by the total number of sales in the month. The widely accepted equilibrium benchmark in the industry is 5 months’ supply. At 5
months’ supply, the buyers are absorbing the existing inventory at a rate that stabilizes pricing; ergo, the supply demand curves are at
equilibrium. A market with greater than 5 months’ supply is considered a buyer’s market and one with less than 5 months’ supply is a
seller’s market. For example, if the market had only 2 months’ worth of supply available, pricing would be trending up (in favour of
sellers, hence a “seller’s market”). Conversely, an environment with 10 months’ supply would be putting downward pressure on pricing
(benefiting buyers) as buyers have more variety of properties to select from.
SALES ABSORPTION RATE The rate at which homes sell in an area; the higher the absorption rate, the faster homes are selling. To
calculate the absorption rate, take the number of homes sold in a month and divide it by the total number of listings available that month.
YEAR OVER YEAR (YOY) This rate compares a time period (in this case a month) against the same time period last year. For example,
July 2012 compared to July 2011. It is calculated by taking the current data (absorption rate, sale prices...etc) minus the previous year’s
data, and then divided by the previous year’s data. The key advantage to this metric is that it automatically negates the effect of
seasonality.
As the real estate market is dynamic and constantly changing, this report and its contents are our best representation of the market at the time
the report was created. If you have any questions, suggestions on how we can make the report better, or would like to know where the market
is at this very moment, please give us a call anytime!
E. & O.E.: This information is from sources which we deem reliable, but must be verified by prospective Purchasers and may be subject to change or withdrawal. If your
property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. Independently Owned and Operated.
SALES
ABSORPTION
REPORT
488 Drake Street Vancouver, BC V6B 5S9
jefffitzpatrick.com | [email protected] | 604.612.6120
JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION
| 2
DOWNTOWN Dec 2012 Jan 2013 % Change Jan 2012 YOY
Active Listings 1102 1077 -2.27% 1285 -16.19% Number of Sales 63 73 15.87% 142 -48.59% Average Listing Price $705,229 $668,354 -5.23% $722,533 -7.50% Average Sale Price $664,367 $643,171 -3.19% $695,487 -7.52% Average DOM 61 57 -6.56% 49 16.33% Overall Absorption 5.72% 6.78% 18.56% 11.05% -38.66%
Price Range # of Listings # of Sales Absorption Absorption % Change 0 - 300,000 59 4 6.78% 12.07% -43.83% 300,001 - 400,000 186 25 13.44% 22.29% -39.69% 400,001 - 500,000 175 14 8.00% 17.39% -54.00% 500,001 - 600,000 147 8 5.44% 7.23% -24.72% 600,001 - 700,000 82 4 4.88% 10.81% -54.88% 700,001 - 800,000 68 4 5.88% 12.50% -52.94% 800,001 - 900,000 60 2 3.33% 4.84% -31.11% 900,001 - 1,000,000 44 3 6.82% 4.17% 63.64% 1,000,001 - 1,250,000 56 2 3.57% 8.22% -56.55% 1,250,001 - 1,500,000 42 4 9.52% 5.80% 64.29% 1,500,001 - 1,750,000 24 1 4.17% 10.34% -59.72% 1,750,001 - 2,000,000 24 0 0.00% 9.09% -100.00% 2M+ 110 2 1.82% 3.27% -44.36% TOTAL 1077 73 6.78% 11.26% -39.81%
Unit Type # of Listings # of Sales Absorption Absorption % Change Studio 50 3 6.00% 15.87% -62.20% 1 Bedroom 408 40 9.80% 16.38% -40.15% 2 Bedroom 517 27 5.22% 8.58% -39.13% 3 Bedroom+ 102 3 2.94% 6.19% -52.52% TOTAL 1077 73 6.78% 11.26% -39.81%
DOWNTOWN | JANUARY 2013
DOWNTOWN (ATTACHED ONLY)
• Includes Downtown, West End, Yaletown & Coal Harbour
• January’s overall absorption was 6.78%, which represents 14.75
months worth of supply (strong buyer’s market)
• Compared to last January, sales absorption rates are down 38.66%,
from 11.05% in 2012 to 6.78% in January 2013
• Year-over-year average sale price decreased by 7.52% or $52,316
(month-over-month decreased 3.19% or $21,196)
• There were 25 fewer listings but 10 more sales than in December
• Most active properties were those listed between $300,001 -
$400,000; least active were listings between $1.75M - $2M
• Average DOM in January was 57 days; properties sold 4 days faster
than in December
488 Drake Street Vancouver, BC V6B 5S9
jefffitzpatrick.com | [email protected] | 604.612.6120
JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION
| 3
VANCOUVER WESTSIDE | JANUARY 2013
DETACHED Dec 2012 Jan 2013 % Change Jan 2012 YOY
Active Listings 856 887 3.62% 966 -8.18% Number of Sales 31 53 70.97% 85 -37.65% Average Listing Price $2,239,483 $2,618,113 16.91% $2,626,432 -0.32% Average Sale Price $2,050,316 $2,444,509 19.23% $2,511,796 -2.68% Average DOM 64 57 -10.94% 32 78.13% Overall Absorption 3.62% 5.98% 64.99% 8.80% -32.09%
Price Range # of Listings # of Sales Absorption Absorption % Change 0 - 800,000 3 0 0.00% 0.00% 0.00% 800,001 - 900,000 2 0 0.00% 0.00% 0.00% 900,001 - 1,000,000 0 0 - 0.00% - 1,000,001 - 1,250,000 21 2 9.52% 29.41% -67.62% 1,250,001 - 1,500,000 49 4 8.16% 23.81% -65.71% 1,500,001 - 1,750,000 59 14 23.73% 18.00% 31.83% 1,750,001 - 2,000,000 75 5 6.67% 17.39% -61.67% 2,000,001 - 2,250,000 53 5 9.43% 26.09% -63.84% 2,250,001 - 2,500,000 113 2 1.77% 10.20% -82.65% 2,500,001 - 2,750,000 75 7 9.33% 13.70% -31.87% 2,750,001 - 3,000,000 87 3 3.45% 2.78% 24.14% 3 - 4M 181 6 3.31% 2.40% 37.90% 4M+ 169 6 3.55% - - TOTAL 887 54 6.09% 8.96% -32.03%
Unit Type # of Listings # of Sales Absorption Absorption % Change 2 Bedroom & Under 25 4 16.00% 14.29% 12.00% 3 Bedroom 80 7 8.75% 12.09% -27.61% 4 Bedroom 190 14 7.37% 11.81% -37.61% 5 Bedroom+ 592 29 4.90% 7.12% -31.19% TOTAL 887 54 6.09% 8.96% -32.03%
ATTACHED Dec 2012 Jan 2013 % Change Jan 2012 YOY
Active Listings 1072 1037 -3.26% 924 12.23% Number of Sales 52 66 26.92% 96 -31.25% Average Listing Price $639,132 $726,114 13.61% $651,294 11.49% Average Sale Price $612,013 $693,596 13.33% $638,401 8.65% Average DOM 68 63 -7.35% 42 50.00% Overall Absorption 4.85% 6.36% 31.21% 10.39% -38.74%
Price Range # of Listings # of Sales Absorption Absorption % Change 0 - 300,000 46 4 8.70% 30.00% -71.01% 300,001 - 400,000 143 12 8.39% 16.94% -50.45% 400,001 - 500,000 173 10 5.78% 9.79% -40.96% 500,001 - 600,000 155 11 7.10% 5.56% 27.74% 600,001 - 700,000 119 6 5.04% 11.76% -57.14% 700,001 - 800,000 73 6 8.22% 10.84% -24.20% 800,001 - 900,000 90 3 3.33% 4.41% -24.44% 900,001 - 1,000,000 60 1 1.67% 2.17% -23.33% 1,000,001 - 1,250,000 64 6 9.38% 11.94% -21.48% 1,250,001 - 1,500,000 54 3 5.56% 6.67% -16.67% 1,500,001 - 1,750,000 20 3 15.00% 5.56% 170.00% 1,750,001 - 2,000,000 10 0 0.00% 15.38% -100.00% 2M+ 30 1 3.33% 3.85% -13.33% TOTAL 1037 66 6.36% 10.49% -39.34%
Unit Type # of Listings # of Sales Absorption Absorption % Change Studio 5 0 0.00% 10.00% -100.00% 1 Bedroom 308 20 6.49% 11.28% -42.45% 2 Bedroom 532 31 5.83% 10.88% -46.44% 3 Bedroom+ 192 15 7.81% 8.13% -3.85% TOTAL 1037 66 6.36% 10.49% -39.34%
ATTACHED
• Excludes Downtown, West End, Yaletown & Coal Harbour
• Overall absorption was 6.36%, which represents 15.72 months
worth of supply (strong buyer’s market)
• Compared to last January, sales absorption rates are down
38.74%, from 10.39% in January 2012 to 6.36% in 2013
• Year-over-year average sale price increased by 8.65% or
$55,195 (month-over-month increased 13.33% or $81,583)
• Average DOM in January was 63 days; properties sold 5 days
faster than in December
DETACHED
• Excludes Downtown, West End, Yaletown & Coal Harbour
• Absorption in January was 5.98%, which represents 16.72
months worth of supply (strong buyer’s market)
• Compared to January 2012, sales absorption rates are down by
32.09%, from 8.80% to 5.98% in January 2013
• Year-over-year average sale price decreased by 2.68% or
$67,287 (month-over-month increased 19.23% or $394,193)
• Average DOM in January was 57 days; properties sold 7 days
faster than in December
VANCOUVER
WESTSIDE
488 Drake Street Vancouver, BC V6B 5S9
jefffitzpatrick.com | [email protected] | 604.612.6120
JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION
| 4
VANCOUVER EASTSIDE | JANUARY 2013
ATTACHED Dec 2012 Jan 2013 % Change Jan 2012 YOY
Active Listings 670 693 3.43% 635 9.13% Number of Sales 32 56 75.00% 82 -31.71% Average Listing Price $439,476 $452,432 2.95% $406,112 11.41% Average Sale Price $424,703 $443,483 4.42% $399,530 11.00% Average DOM 56 62 10.71% 56 10.71% Overall Absorption 4.78% 8.08% 69.19% 12.91% -37.42%
Price Range # of Listings # of Sales Absorption Absorption % Change 0 - 250,000 78 6 7.69% 23.08% -66.67% 250,001 - 300,000 120 6 5.00% 13.04% -61.67% 300,001 - 400,000 188 16 8.51% 11.76% -27.66% 400,001 - 500,000 108 11 10.19% 14.14% -27.98% 500,001 - 600,000 59 8 13.56% 19.30% -29.74% 600,001 - 700,000 63 2 3.17% 6.82% -53.44% 700,001 - 800,000 40 5 12.50% 8.57% 45.83% 800,001 - 900,000 20 1 5.00% 0.00% 100.00% 900,001 - 1,000,000 4 1 25.00% 20.00% 25.00% 1,000,001 - 1,250,000 6 0 0.00% 0.00% 0.00% 1,250,001 - 1,500,000 2 0 0.00% 0.00% 0.00% 1,500,001 - 1,750,000 2 0 0.00% 0.00% 0.00% 1,750,001 - 2,000,000 3 0 0.00% - - 2M+ 0 0 - - - TOTAL 693 56 8.08% 13.04% -38.01%
Unit Type # of Listings # of Sales Absorption Absorption % Change Studio 21 2 9.52% 11.76% -19.05% 1 Bedroom 281 20 7.12% 12.60% -43.52% 2 Bedroom 253 20 7.91% 14.29% -44.66% 3 Bedroom+ 138 14 10.14% 11.21% -9.54% TOTAL 693 56 8.08% 13.04% -38.01%
DETACHED Dec 2012 Jan 2013 % Change Jan 2012 YOY
Active Listings 591 540 -8.63% 569 -5.10% Number of Sales 30 30 0.00% 95 -68.42% Average Listing Price $899,118 $927,336 3.14% $916,334 1.20% Average Sale Price $862,376 $884,006 2.51% $909,275 -2.78% Average DOM 53 73 37.74% 45 62.22% Overall Absorption 5.08% 5.56% 9.44% 16.70% -66.73%
Price Range # of Listings # of Sales Absorption Absorption % Change 0 - 500,000 0 0 - 50.00% - 500,001 - 600,000 4 0 0.00% 22.22% -100.00% 600,001 - 700,000 36 7 19.44% 14.71% 32.22% 700,001 - 800,000 91 7 7.69% 24.21% -68.23% 800,001 - 900,000 75 4 5.33% 25.93% -79.43% 900,001 - 1,000,000 83 3 3.61% 15.29% -76.37% 1,000,001 - 1,250,000 116 7 6.03% 16.19% -62.73% 1,250,001 - 1,500,000 73 2 2.74% 5.33% -48.63% 1,500,001 - 1,750,000 31 0 0.00% 7.14% -100.00% 1,750,001 - 2,000,000 22 0 0.00% 0.00% 0.00% 2M+ 9 0 0.00% 0.00% 0.00% TOTAL 540 30 5.56% 17.09% -67.49%
Unit Type # of Listings # of Sales Absorption Absorption % Change 2 Bedroom & Under 26 2 7.69% 22.50% -65.81% 3 Bedroom 48 7 14.58% 18.87% -22.71% 4 Bedroom 93 6 6.45% 26.32% -75.48% 5 Bedroom+ 373 15 4.02% 13.86% -70.98% TOTAL 540 30 5.56% 17.09% -67.49%
ATTACHED
• Overall absorption for January was 8.08%, which represents
12.38 months of supply (buyer’s market)
• January absorption rates are down 37.12% from a year
earlier, from 12.91% in 2012 to 8.08% in 2013
• Year-over-year average sale price increased by 11.00% or
$43,953 (month-over-month increased 4.42% or $18,780)
• January had 23 more listings and 24 more sales than
December
• Average DOM was 62 days; properties took 6 days longer to
sell in January than in December
DETACHED
• January’s absorption rate was 5.56%, which represents 17.99
months worth of supply (strong buyer’s market)
• Compared to last January, absorption rates are down 66.73%
from 16.70% in January 2012 to 5.56% in 2013
• Year-over-year average sale price decreased by 2.78% or
$25,269 (month-over-month increased 2.51% or $21,630)
• January had 51 fewer listings but the same number of sales
(30) as December
• Average DOM in January was 73 days; properties took 18
days longer to sell than in December
VANCOUVER
EASTSIDE
488 Drake Street Vancouver, BC V6B 5S9
jefffitzpatrick.com | [email protected] | 604.612.6120
JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION
| 5
NORTH VANCOUVER | JANUARY 2013
NORTH
VANCOUVER
ATTACHED Dec 2012 Jan 2013 % Change Jan 2012 YOY
Active Listings 542 527 -2.77% 564 -6.56% Number of Sales 36 42 16.67% 74 -43.24% Average Listing Price $495,497 $460,133 -7.14% $519,798 -11.48% Average Sale Price $477,235 $449,138 -5.89% $510,565 -12.03% Average DOM 63 62 -1.59% 59 5.08% Overall Absorption 6.64% 7.97% 19.99% 13.12% -39.26%
Price Range # of Listings # of Sales Absorption Absorption % Change 0 - 300,000 91 11 12.09% 17.33% -30.26% 300,001 - 400,000 140 8 5.71% 7.84% -27.14% 400,001 - 500,000 78 9 11.54% 14.00% -17.58% 500,001 - 600,000 80 5 6.25% 21.13% -70.42% 600,001 - 700,000 43 4 9.30% 8.20% 13.49% 700,001 - 800,000 53 3 5.66% 26.32% -78.49% 800,001 - 900,000 23 2 8.70% 8.33% 4.35% 900,001 - 1,000,000 5 0 0.00% 11.76% -100.00% 1,000,001 - 1,250,000 8 0 0.00% 11.11% -100.00% 1,250,001 - 1,500,000 1 0 0.00% 0.00% 0.00% 1,500,001 - 1,750,000 2 0 0.00% 0.00% 0.00% 1,750,001 - 2,000,000 2 0 0.00% 0.00% 0.00% 2M+ 1 0 0.00% 0.00% 0.00% TOTAL 527 42 7.97% 13.26% -39.90%
Unit Type # of Listings # of Sales Absorption Absorption % Change Studio 3 0 0.00% 28.57% -100.00% 1 Bedroom 156 12 7.69% 8.43% -8.79% 2 Bedroom 247 17 6.88% 11.83% -41.81% 3 Bedroom+ 121 13 10.74% 23.58% -54.45% TOTAL 527 42 7.97% 13.26% -39.90%
DETACHED Dec 2012 Jan 2013 % Change Jan 2012 YOY
Active Listings 357 393 10.08% 304 29.28% Number of Sales 23 37 60.87% 57 -35.09% Average Listing Price $1,051,873 $1,055,472 0.34% $1,039,443 1.54% Average Sale Price $1,004,021 $1,032,640 2.85% $1,024,918 0.75% Average DOM 63 56 -11.11% 37 51.35% Overall Absorption 6.44% 9.41% 46.13% 18.75% -49.79%
Price Range # of Listings # of Sales Absorption Absorption % Change 0 - 800,000 50 8 16.00% 28.00% -42.86% 800,001 - 900,000 55 8 14.55% 22.73% -36.00% 900,001 - 1,000,000 51 8 15.69% 25.00% -37.25% 1,000,001 - 1,250,000 59 7 11.86% 24.59% -51.75% 1,250,001 - 1,500,000 63 2 3.17% 9.80% -67.62% 1,500,001 - 1,750,000 39 1 2.56% 18.75% -86.32% 1,750,001 - 2,000,000 34 1 2.94% 7.14% -58.82% 2,000,001 - 2,250,000 10 0 0.00% 0.00% 0.00% 2,250,001 - 2,500,000 12 2 16.67% 9.09% 83.33% 2,500,001 - 2,750,000 6 0 0.00% 0.00% 0.00% 2,750,001 - 3,000,000 5 0 0.00% 0.00% 0.00% 3 - 4M 0 0 - 0.00% - 4M+ 9 0 0.00% 0.00% 0.00% TOTAL 393 37 9.41% 19.26% -51.11%
Unit Type # of Listings # of Sales Absorption Absorption % Change 2 Bedroom & Under 17 1 5.88% 25.00% -76.47% 3 Bedroom 60 7 11.67% 28.13% -58.52% 4 Bedroom 134 15 11.19% 18.67% -40.03% 5 Bedroom+ 182 14 7.69% 14.60% -47.31% TOTAL 393 37 9.41% 19.26% -51.11%
ATTACHED
• Overall absorption was 7.97%, which represents 12.55
months worth of supply (buyer’s market)
• January’s sales absorption rates are down 39.26% from a
year earlier, from 13.12% in 2012 to 7.97% in 2013
• Year-over-year average sale price decreased by 12.03% or
$61,427 (month-over-month decreased 5.89% or $28,097)
• There was 15 fewer listings but 6 more sales in January than
in December
• Average DOM in January was 62 days; properties sold 1 day
faster than in December
DETACHED
• January’s absorption rate was 9.41%, which represents 10.63
months worth of supply (buyer’s market)
• Compared to last January, sales absorption rates are down
49.79% from 18.75% in 2012 to 9.41% in 2013
• Year-over-year average sale price increased by 0.75% or
$7,722 (month-over-month increased 2.85% or $28,619)
• There were 36 more listings and 14 more sales than
December
• Average DOM was 56 days; properties sold 7 days faster than
in December
488 Drake Street Vancouver, BC V6B 5S9
jefffitzpatrick.com | [email protected] | 604.612.6120
JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION
| 6
WEST VANCOUVER | JANUARY 2013
WEST
VANCOUVER
ATTACHED Dec 2012 Jan 2013 % Change Jan 2012 YOY
Active Listings 170 182 7.06% 135 34.81% Number of Sales 6 7 16.67% 13 -46.15% Average Listing Price $1,512,483 $835,342 -44.77% $1,040,752 -19.74% Average Sale Price $1,327,833 $793,625 -40.23% $1,006,269 -21.13% Average DOM 72 132 83.33% 60 120.00% Overall Absorption 3.53% 3.85% -22.31% 9.63% -60.06%
Price Range # of Listings # of Sales Absorption Absorption % Change 0 - 300,000 6 0 0.00% 16.67% -100.00% 300,001 - 400,000 8 1 12.50% 27.27% -54.17% 400,001 - 500,000 12 2 16.67% 18.18% -8.33% 500,001 - 600,000 21 0 0.00% 0.00% 0.00% 600,001 - 700,000 16 0 0.00% 15.38% -100.00% 700,001 - 800,000 18 0 0.00% 0.00% 0.00% 800,001 - 900,000 22 2 9.09% 15.38% -40.91% 900,001 - 1,000,000 12 0 0.00% 0.00% 0.00% 1,000,001 - 1,250,000 14 0 0.00% 0.00% 0.00% 1,250,001 - 1,500,000 24 2 8.33% 0.00% 100.00% 1,500,001 - 1,750,000 9 0 0.00% 0.00% 0.00% 1,750,001 - 2,000,000 5 0 0.00% 25.00% -100.00% 2M+ 15 0 0.00% 11.11% -100.00% TOTAL 182 7 3.85% 9.35% -58.88%
Unit Type # of Listings # of Sales Absorption Absorption % Change Studio 3 0 0.00% 16.67% -100.00% 1 Bedroom 26 2 7.69% 12.50% -38.46% 2 Bedroom 101 3 2.97% 9.46% -68.60% 3 Bedroom+ 52 2 3.85% 5.71% -32.69% TOTAL 182 7 3.85% 9.35% -58.88%
DETACHED Dec 2012 Jan 2013 % Change Jan 2012 YOY
Active Listings 487 483 -0.82% 487 -0.82% Number of Sales 21 33 57.14% 39 -15.38% Average Listing Price $2,738,904 $2,286,787 -16.51% $2,408,520 -5.05% Average Sale Price $2,480,726 $2,135,545 -13.91% $2,258,816 -5.46% Average DOM 83 65 -21.69% 61 6.56% Overall Absorption 4.31% 6.83% 58.44% 8.01% -14.68%
Price Range # of Listings # of Sales Absorption Absorption % Change 0 - 800,000 18 0 0.00% 12.50% -100.00% 800,001 - 900,000 5 0 0.00% 12.50% -100.00% 900,001 - 1,000,000 12 3 25.00% 0.00% 100.00% 1,000,001 - 1,250,000 27 3 11.11% 21.74% -48.89% 1,250,001 - 1,500,000 51 7 13.73% 15.22% -9.80% 1,500,001 - 1,750,000 34 4 11.76% 6.45% 82.35% 1,750,001 - 2,000,000 47 2 4.26% 10.00% -57.45% 2,000,001 - 2,250,000 11 1 9.09% 15.00% -39.39% 2,250,001 - 2,500,000 34 3 8.82% 7.69% 14.71% 2,500,001 - 2,750,000 26 3 11.54% 25.00% -53.85% 2,750,001 - 3,000,000 44 2 4.55% 3.45% 31.82% 3M - 4M 62 3 4.84% 3.26% 48.62% 4M+ 112 2 1.79% - - TOTAL 483 33 6.83% 8.23% -16.96%
Unit Type # of Listings # of Sales Absorption Absorption % Change 2 Bedroom & Under 30 0 0.00% 3.23% -100.00% 3 Bedroom 105 11 10.48% 9.41% 11.31% 4 Bedroom 165 12 7.27% 12.74% -42.91% 5 Bedroom+ 183 10 5.46% 4.98% 9.84% TOTAL 483 33 6.83% 8.23% -16.96%
ATTACHED
• January’s overall absorption was 3.85%, which represents 25.97
months worth of supply (very strong buyer’s market)
• Compared to last January, absorption rates are down 60.06%
from 9.63% in 2012 to 3.85% in 2013
• Year-over-year average sale price decreased by 21.13% or
$212,644 (month-over-month decreased 40.23% or $534,208,
skewed by the sale of a $307,000 one bedroom condo)
• There were 12 more listings and 1 more sale in January
• Average DOM in January was 132 days; properties took 60
days longer to sell than in December
DETACHED
• Overall absorption in January was 6.83%, which represents
14.64 months of supply (strong buyer’s market)
• January sales absorption rates were down 14.68% from a year
earlier, from 8.01% in 2012 to 6.83% in 2013
• Year-over-year average sale price decreased by 5.46% or
$123,271 (month-over-month decreased 13.91% or $345,181)
• There were 4 fewer listings but 12 more sales than December
• Average DOM was 65 days; properties sold 18 days faster
than in December
488 Drake Street Vancouver, BC V6B 5S9
jefffitzpatrick.com | [email protected] | 604.612.6120
JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION
| 7
FEATURED PROPERTIES | JANUARY 2013
206 – 2250 W. 3rd Avenue, Vancouver BC $399,000
Tastefully Upgraded 1 Bedroom 1 Bathroom
North of 4th Avenue Crown Moulding 696 sq. ft.
Hardwood floors Spacious Kitchen with Pantry New Bathroom
Rainscreened In-suite Laundry 1 Parking
404 – 2665 W. Broadway, Vancouver BC $718,000
Penthouse 2 Bedrooms and Den 2 Bathrooms
1,142 sq. ft. State-of-the-art kitchen Cozy fireplace
Crown moulding Stunning hardwood floors Balcony
Large Master Suite 1 Storage Locker 2 Parking
MLS V986505
402 – 736 14th Avenue, Vancouver BC $536,000
Corner Penthouse 2 Bedrooms and Den 2 Bathrooms
822 sq. ft. Partial mountain views Large windows
Hardwood floors Vaulted ceiling in bedroom Cozy fireplace
Fully rainscreened In-suite Laundry 1 Parking
MLS V985312
FEATURED
PROPERTIES (CLICK PROPERTY FOR
MORE DETAILS)
303 – 966 W. 14th Avenue, Vancouver BC $469,000
Largest unit in building Quiet corner suite 2 Bedrooms
2 Bathrooms 979 sq. ft. 2 Balconies
New washer & dryer New carpets throughout Rainscreened
In-suite laundry 1 Storage locker 1 Parking
NEW PRICE!
JUST SOLD! JUST SOLD!
MLS V983238 MLS V984422
NEW LISTING!