october 2012 vancouver real estate sales absorption report
DESCRIPTION
October 2012 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 | OCTOBER 2012
Vancouver real estate market statistics to keep you
ON TOP OF THE MARKET
488 Drake Street Vancouver, BC V6B 5S9
jefffitzpatrick.com | [email protected] | 604.612.6120
JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION
INTRODUCTION | OCTOBER 2012
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.
488 Drake Street Vancouver, BC V6B 5S9
jefffitzpatrick.com | [email protected] | 604.612.6120
JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION
DOWNTOWN Sept 2012 Oct 2012 % Change Oct 2011 YOY
Active Listings 1545 1464 -5.24% 1554 -5.79%
Number of Sales 101 99 -1.98% 137 -27.74%
Average Listing Price $821,866 $671,191 -18.33% $677,959 -1.00%
Average Sale Price $779,834 $644,122 -17.40% $651,763 -1.17%
Average DOM 59 55 -6.78% 43 27.91%
Overall Absorption 6.54% 6.76% 3.44% 8.82% -23.33%
Price Range # of Listings # of Sales Absorption Absorption % Change
0 - 300,000 86 12 13.95% 10.11% 37.98%
300,001 - 400,000 231 23 9.96% 13.85% -28.13%
400,001 - 500,000 265 16 6.04% 12.35% -51.09%
500,001 - 600,000 194 10 5.15% 8.06% -36.02%
600,001 - 700,000 128 6 4.69% 14.50% -67.68%
700,001 - 800,000 94 10 10.64% 10.89% -2.32% 800,001 - 900,000 77 5 6.49% 4.71% 37.99%
900,001 - 1,000,000 56 4 7.14% 1.79% 300.00%
1,000,001 - 1,250,000 80 5 6.25% 6.45% -3.13%
1,250,001 - 1,500,000 58 1 1.72% 1.30% 32.76%
1,500,001 - 1,750,000 39 4 10.26% 5.13% 100.00%
1,750,001 - 2,000,000 26 1 3.85% 3.85% 0.00%
2M+ 130 2 1.54% 2.80% -45.00%
TOTAL 1464 99 6.76% 8.98% -24.73%
Unit Type # of Listings # of Sales Absorption Absorption % Change
Studio 63 3 4.76% 10.84% -56.08%
1 Bedroom 557 48 8.62% 12.26% -29.71% 2 Bedroom 705 42 5.96% 7.54% -20.96%
3 Bedroom+ 139 6 4.32% 3.23% 33.81%
TOTAL 1464 99 6.76% 8.98% -24.73%
DOWNTOWN | OCTOBER 2012
Includes Downtown, West End, Yaletown & Coal Harbour
October’s overall absorption was 6.76%, which represents 14.79
months worth of supply (strong buyer’s market)
Compared to last October, sales absorption rates are down
23.33%, from 8.82% in October 2011 to 6.76% in October 2012
Average sale price in October was $644,122, a decrease of
$135,712 (17.40%) from September’s average
There were 81 fewer listings and 2 fewer sales than in September
Most active properties were those listed under $300,000; least
active were listings over $2M
Average DOM in October was 55 days; properties sold 4 days
faster than in September
488 Drake Street Vancouver, BC V6B 5S9
jefffitzpatrick.com | [email protected] | 604.612.6120
JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION
VANCOUVER WESTSIDE | OCTOBER 2012
DETACHED Sept 2012 Oct 2012 % Change Oct 2011 YOY
Active Listings 1220 1134 -7.05% 1068 6.18%
Number of Sales 70 64 -8.57% 120 -46.67%
Average Listing Price $2,562,682 $2,599,653 1.44% $2,440,570 6.52%
Average Sale Price $2,383,263 $2,375,685 -0.32% $2,352,106 1.00%
Average DOM 43 54 25.58% 34 58.82%
Overall Absorption 5.74% 5.64% -1.64% 11.24% -49.77%
Price Range # of Listings # of Sales Absorption Absorption % Change
0 - 800,000 1 0 0.00% 0.00% -
800,001 - 900,000 2 1 50.00% 33.33% 50.00%
900,001 - 1,000,000 8 1 12.50% 50.00% -75.00%
1,000,001 - 1,250,000 34 3 8.82% 23.33% -62.18%
1,250,001 - 1,500,000 78 7 8.97% 20.00% -55.13%
1,500,001 - 1,750,000 101 13 12.87% 20.55% -37.36%
1,750,001 - 2,000,000 97 3 3.09% 14.15% -78.14%
2,000,001 - 2,250,000 73 10 13.70% 18.37% -25.42% 2,250,001 - 2,500,000 127 6 4.72% 16.13% -70.71%
2,500,001 - 2,750,000 90 4 4.44% 16.67% -73.33%
2,750,001 - 3,000,000 100 3 3.00% 8.62% -65.20%
3 - 4M 232 9 3.88% 5.26% -26.29%
4M+ 191 4 2.09% 5.05% -58.53%
TOTAL 1134 64 5.64% 11.53% -51.04%
Unit Type # of Listings # of Sales Absorption Absorption % Change
2 Bedroom & Under 29 2 6.90% 17.24% -60.00%
3 Bedroom 113 9 7.96% 22.45% -64.52%
4 Bedroom 258 18 6.98% 11.28% -38.14%
5 Bedroom+ 734 35 4.77% 9.72% -50.95%
TOTAL 1134 64 5.64% 11.53% -51.04%
ATTACHED Sept 2012 Oct 2012 % Change Oct 2011 YOY
Active Listings 1458 1446 -0.82% 1227 17.85%
Number of Sales 74 81 9.46% 155 -47.74%
Average Listing Price $665,037 $697,424 4.87% $695,809 0.23%
Average Sale Price $634,034 $670,098 5.69% $679,286 -1.35%
Average DOM 44 55 25.00% 38 44.74%
Overall Absorption 5.08% 5.60% 10.37% 12.63% -55.65%
Price Range # of Listings # of Sales Absorption Absorption % Change
0 - 300,000 60 4 6.67% 20.69% -67.78%
300,001 - 400,000 216 14 6.48% 17.71% -63.41%
400,001 - 500,000 241 9 3.73% 10.24% -63.54%
500,001 - 600,000 200 15 7.50% 14.67% -48.86%
600,001 - 700,000 166 11 6.63% 8.67% -23.54%
700,001 - 800,000 104 3 2.88% 10.31% -72.02%
800,001 - 900,000 129 11 8.53% 14.58% -41.53%
900,001 - 1,000,000 71 2 2.82% 8.47% -66.76%
1,000,001 - 1,250,000 103 6 5.83% 19.54% -70.19%
1,250,001 - 1,500,000 83 5 6.02% 10.53% -42.77%
1,500,001 - 1,750,000 22 1 4.55% 5.26% -13.64%
1,750,001 - 2,000,000 16 0 0.00% 0.00% -
2M+ 35 0 0.00% 10.34% -100.00% TOTAL 1446 81 5.60% 12.99% -56.89%
Unit Type # of Listings # of Sales Absorption Absorption % Change
Studio 18 0 0.00% 13.79% -100.00%
1Bedroom 433 21 4.85% 12.70% -61.82%
2 Bedroom 736 45 6.11% 13.12% -53.41%
3 Bedroom+ 259 15 5.79% 13.02% -55.52%
TOTAL 1446 81 5.60% 12.99% -56.89%
ATTACHED
Excludes Downtown, West End, Yaletown & Coal Harbour
Overall absorption was 5.60%, which represents 17.86 months
worth of supply (strong buyer’s market)
Compared to last October, sales absorption rates are down
55.65%, from 12.63% in October 2011 to 5.60% in 2012
Average sale price in October was $670,098, an increase of
$36,064 (5.69%) from September’s average
Average DOM in October was 55 days; properties sold 11
days faster than in September
DETACHED
Excludes Downtown, West End, Yaletown & Coal Harbour
Absorption in October was 5.64%, which represents 17.73
months worth of supply (strong buyer’s market)
Compared to October 2011, sales absorption rates are down
by 49.77%, from 11.24% to 5.64% in October 2012
Average sale price in October was $2,375,685, a decrease of
$7,578 (-0.32%) from September’s average
Average DOM in October was 54 days; properties needed 11
more days to sell than in September
488 Drake Street Vancouver, BC V6B 5S9
jefffitzpatrick.com | [email protected] | 604.612.6120
JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION
VANCOUVER EASTSIDE | OCTOBER 2012
ATTACHED Sept 2012 Oct 2012 % Change Oct 2011 YOY
Active Listings 891 890 -0.11% 879 1.25%
Number of Sales 58 56 -3.45% 136 -58.82%
Average Listing Price $400,508 $417,755 4.31% $419,931 -0.52%
Average Sale Price $393,907 $408,796 3.78% $412,113 -0.80% Average DOM 42 39 -7.14% 49 -20.41%
Overall Absorption 6.51% 6.29% -3.34% 15.47% -59.33%
Price Range # of Listings # of Sales Absorption Absorption % Change
0 - 250,000 92 6 6.52% 25.00% -73.91%
250,001 - 300,000 132 12 9.09% 12.84% -29.22%
300,001 - 400,000 245 13 5.31% 17.01% -68.81%
400,001 - 500,000 133 11 8.27% 13.79% -40.04%
500,001 - 600,000 104 7 6.73% 19.75% -65.93%
600,001 - 700,000 81 3 3.70% 15.49% -76.09%
700,001 - 800,000 54 3 5.56% 14.89% -62.70%
800,001 - 900,000 26 1 3.85% 0.00% -
900,001 - 1,000,000 6 0 0.00% 0.00% -
1,000,001 - 1,250,000 8 0 0.00% 16.67% -100.00%
1,250,001 - 1,500,000 4 0 0.00% 0.00% -
1,500,001 - 1,750,000 3 0 0.00% 0.00% -
1,750,001 - 2,000,000 2 0 0.00% 0.00% - 2M+ 0 0 - - -
TOTAL 890 56 6.29% 15.93% -60.49%
Unit Type # of Listings # of Sales Absorption Absorption % Change
Studio 35 4 11.43% 27.27% -58.10% 1 Bedroom 346 27 7.80% 13.27% -41.17%
2 Bedroom 330 16 4.85% 17.11% -71.67%
3 Bedroom+ 179 9 5.03% 16.46% -69.46%
TOTAL 890 56 6.29% 15.93% -60.49%
DETACHED Sept 2012 Oct 2012 % Change Oct 2011 YOY
Active Listings 877 848 -3.31% 775 9.42%
Number of Sales 58 50 -13.79% 126 -60.32%
Average Listing Price $932,582 $884,202 -5.19% $898,133 -1.55%
Average Sale Price $907,573 $860,129 -5.23% $880,634 -2.33% Average DOM 33 39 18.18% 35 11.43%
Overall Absorption 6.61% 5.90% -10.84% 16.26% -63.74%
Price Range # of Listings # of Sales Absorption Absorption % Change
0 - 500,000 3 0 0.00% 0.00% - 500,001 - 600,000 5 1 20.00% 37.50% -46.67%
600,001 - 700,000 58 6 10.34% 25.76% -59.84%
700,001 - 800,000 128 16 12.50% 21.09% -40.73%
800,001 - 900,000 173 15 8.67% 20.75% -58.22%
900,001 - 1,000,000 111 4 3.60% 16.67% -78.38%
1,000,001 - 1,250,000 165 4 2.42% 9.93% -75.58%
1,250,001 - 1,500,000 130 3 2.31% 7.89% -70.77%
1,500,001 - 1,750,000 36 1 2.78% 8.00% -65.28%
1,750,001 - 2,000,000 26 0 0.00% 0.00% -
2M+ 13 0 0.00% 0.00% -
TOTAL 848 50 5.90% 16.56% -64.39%
Unit Type # of Listings # of Sales Absorption Absorption % Change
2 Bedroom & Under 46 4 8.70% 23.53% -63.04%
3 Bedroom 75 9 12.00% 21.25% -43.53%
4 Bedroom 161 14 8.70% 25.38% -65.74%
5 Bedroom+ 566 23 4.06% 12.80% -68.25% TOTAL 848 50 5.90% 16.56% -64.39%
ATTACHED
Overall absorption for October was 6.29%, which represents
15.90 months of supply (strong buyer’s market)
Absorption rates are down 59.33% in October from a year
earlier, from 15.47% in 2011 to 6.29% in 2012
Average sale price in October was $408,796, an increase of
$14,889 (3.78%) from September’s average
There was one less listing and two fewer sales when
compared to September
Average DOM was 39 days; properties sold 3 days faster in
October than in September
DETACHED
October’s absorption rate was 5.90%, which represents
16.95 months worth of supply (strong buyer’s market)
Compared to last October, sales absorption rates are down
63.74% from 16.26% in October 2011 to 5.90% in 2012
Average sale price in October was $860,129, a decrease of
$47,444 (-5.23%) from September’s average
October had 29 fewer listings and 8 fewer sales than
September
Average DOM in October was 39 days; properties took 6
days longer to sell than in September
488 Drake Street Vancouver, BC V6B 5S9
jefffitzpatrick.com | [email protected] | 604.612.6120
JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION
NORTH VANCOUVER | OCTOBER 2012
ATTACHED Sept 2012 Oct 2012 % Change Oct 2011 YOY
Active Listings 791 749 -5.31% 770 -2.73%
Number of Sales 42 52 23.81% 110 -52.73%
Average Listing Price $473,109 $532,190 12.49% $467,791 13.77%
Average Sale Price $461,076 $512,115 11.07% $456,970 12.07%
Average DOM 61 44 -27.87% 35 25.71%
Overall Absorption 5.31% 6.94% 30.75% 14.29% -51.40%
Price Range # of Listings # of Sales Absorption Absorption % Change
0 - 300,000 123 7 5.69% - -
300,001 - 400,000 191 11 5.76% - -
400,001 - 500,000 125 12 9.60% - -
500,001 - 600,000 113 10 8.85% - -
600,001 - 700,000 65 7 10.77% - -
700,001 - 800,000 68 3 4.41% - -
800,001 - 900,000 28 0 0.00% - -
900,001 - 1,000,000 12 0 0.00% - - 1,000,001 - 1,250,000 13 1 7.69% - -
1,250,001 - 1,500,000 3 0 0.00% - -
1,500,001 - 1,750,000 3 0 0.00% - -
1,750,001 - 2,000,000 2 0 0.00% - -
2M+ 3 1 33.33% - -
TOTAL 749 52 6.94% 14.29% -51.40%
Unit Type # of Listings # of Sales Absorption Absorption % Change
Studio 9 0 0.00% -
1 Bedroom 220 7 3.18% - -
2 Bedroom 353 34 9.63% - -
3 Bedroom+ 167 11 6.59% - -
TOTAL 749 52 6.94% 14.29% -51.40%
DETACHED Sept 2012 Oct 2012 % Change Oct 2011 YOY
Active Listings 586 548 -6.48% 494 10.93%
Number of Sales 36 47 30.56% 93 -49.46%
Average Listing Price $1,055,372 $1,076,878 2.04% $1,020,053 5.57%
Average Sale Price $1,014,433 $1,032,725 1.80% $998,846 3.39%
Average DOM 31 44 41.94% 30 46.67%
Overall Absorption 6.14% 8.58% 39.61% 18.83% -54.44%
Price Range # of Listings # of Sales Absorption Absorption % Change
0 - 800,000 89 10 11.24% - -
800,001 - 900,000 85 14 16.47% - -
900,001 - 1,000,000 68 9 13.24% - -
1,000,001 - 1,250,000 101 8 7.92% - -
1,250,001 - 1,500,000 68 1 1.47% - - 1,500,001 - 1,750,000 47 1 2.13% - -
1,750,001 - 2,000,000 31 0 0.00% - -
2,000,001 - 2,250,000 18 2 11.11% - -
2,250,001 - 2,500,000 16 2 12.50% - -
2,500,001 - 2,750,000 10 0 0.00% - -
2,750,001 - 3,000,000 6 0 0.00% - -
3 - 4M 1 0 0.00% - -
4M+ 8 0 0.00% - -
TOTAL 548 47 8.58% 18.83% -54.44%
Unit Type # of Listings # of Sales Absorption Absorption % Change
2 Bedroom & Under 31 1 3.23% - -
3 Bedroom 109 16 14.68% - -
4 Bedroom 184 17 9.24% - -
5 Bedroom+ 224 13 5.80% - -
TOTAL 548 47 8.58% 18.83% -54.44%
ATTACHED
Overall absorption was 6.94%, which represents 14.40
months worth of supply (strong buyer’s market)
October sales absorption rates are down 51.40% from a
year earlier, from 14.29% in 2011 to 6.94% in 2012
Average selling price in October was $512,115, an increase
of $51,039 (11.07%) from September’s average
There was 42 fewer listings but 10 more sales than
September
Average DOM in October was 44 days; properties sold 17
days faster than in September
DETACHED
October’s absorption rate was 8.58%, which represents 11.67
months worth of supply (buyer’s market)
Compared to last October, sales absorption rates are down
54.44% from 18.83% in October 2011 to 8.58% in 2012
Average sale price in October was $1,032,725, an increase of
$18,292 (1.80%) from September’s average
There was 38 fewer listings but 11 more sales than
September
Average DOM was 44 days; properties sat on the market for
13 days longer than in September
488 Drake Street Vancouver, BC V6B 5S9
jefffitzpatrick.com | [email protected] | 604.612.6120
JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION
WEST VANCOUVER | OCTOBER 2012
ATTACHED Sept 2012 Oct 2012 % Change Oct 2011 YOY
Active Listings 213 219 2.82% 175 25.14%
Number of Sales 10 9 -10.00% 17 -47.06%
Average Listing Price $785,980 $1,347,877 71.49% $1,020,423 32.09%
Average Sale Price $747,600 $1,264,333 69.12% $4,009,455 -68.47%
Average DOM 89 93 4.49% 48 93.75%
Overall Absorption 4.69% 4.11% -12.47% 9.71% -57.70%
Price Range # of Listings # of Sales Absorption Absorption % Change
0 - 300,000 5 1 20.00% - -
300,001 - 400,000 9 0 0.00% - -
400,001 - 500,000 12 1 8.33% - -
500,001 - 600,000 23 1 4.35% - -
600,001 - 700,000 18 1 5.56% - -
700,001 - 800,000 19 1 5.26% - -
800,001 - 900,000 22 1 4.55% - -
900,001 - 1,000,000 26 0 0.00% - -
1,000,001 - 1,250,000 17 1 5.88% - -
1,250,001 - 1,500,000 30 1 3.33% - - 1,500,001 - 1,750,000 13 0 0.00% - -
1,750,001 - 2,000,000 4 0 0.00% - -
2M+ 21 1 4.76% - -
TOTAL 219 9 4.11% 9.71% -57.70%
Unit Type # of Listings # of Sales Absorption Absorption % Change
Studio 3 0 0.00% - -
1 Bedroom 25 2 8.00% - -
2 Bedroom 126 7 5.56% - -
3 Bedroom+ 65 0 0.00% - -
TOTAL 219 9 4.11% 9.71% -57.70%
DETACHED Sept 2012 Oct 2012 % Change Oct 2011 YOY
Active Listings 674 655 -2.82% 662 -1.06%
Number of Sales 33 42 27.27% 90 -53.33% Average Listing Price $2,433,693 $2,732,995 12.30% $2,373,648 15.14%
Average Sale Price $2,294,135 $2,425,811 5.74% $2,271,600 6.79%
Average DOM 38 60 57.89% 37 62.16%
Overall Absorption 4.90% 6.41% 30.96% 13.60% -52.83%
Price Range # of Listings # of Sales Absorption Absorption % Change
0 - 800,000 19 4 21.05% - -
800,001 - 900,000 11 0 0.00% - -
900,001 - 1,000,000 14 1 7.14% - -
1,000,001 - 1,250,000 36 3 8.33% - -
1,250,001 - 1,500,000 71 7 9.86% - -
1,500,001 - 1,750,000 51 2 3.92% - -
1,750,001 - 2,000,000 67 4 5.97% - -
2,000,001 - 2,250,000 26 2 7.69% - -
2,250,001 - 2,500,000 39 3 7.69% - -
2,500,001 - 2,750,000 36 4 11.11% - -
2,750,001 - 3,000,000 63 3 4.76% - - 3M - 4M 88 3 3.41% - -
4M+ 134 6 4.48% - -
TOTAL 655 42 6.41% 13.60% -52.83%
Unit Type # of Listings # of Sales Absorption Absorption % Change 2 Bedroom & Under 35 3 8.57% - -
3 Bedroom 142 11 7.75% - -
4 Bedroom 213 10 4.69% - -
5 Bedroom+ 265 18 6.79% - -
TOTAL 655 42 6.41% 13.60% -52.83%
ATTACHED
October’s overall absorption was 4.11%, which represents
24.33 months worth of supply (very strong buyer’s market)
Compared to last October, sales absorption rates are down
57.70% from 9.71% in October 2011 to 4.11% in 2012
Average sale price in October was $1,264,333, an increase of
$516,733 (69.12%) from September’s average (skewed by a
$5.38M half duplex sale)
There was 6 more listings and 1 less sale than in September
Average DOM in October was 93 days; properties sat on the
market for 4 days longer than in September
DETACHED
Overall absorption in October was 6.41%, which represents
15.60 months of supply (strong buyer’s market)
Sales absorption rates are down 52.83% in October from a
year earlier, from 13.60% in 2011 to 6.41% in 2012
Average sale price was $2,425,811, an increase of $131,676
(5.74%) from September’s average
There was 19 fewer listings but 9 more sales than in September
Average DOM was 60 days; properties sat on the market for
22 more days than in September
488 Drake Street Vancouver, BC V6B 5S9
jefffitzpatrick.com | [email protected] | 604.612.6120
JEFF FITZPATRICK PERSONAL REAL ESTATE CORPORATION
FEATURED PROPERTIES | OCTOBER 2012
209 – 2133 Douglas Road, Burnaby BC $420,000
2 Bedroom 2 Bathroom 863 sq. ft.
Expansive city views Floor-to-ceiling windows Open Concept
Covered balcony Stainless steel appliances In-suite laundry
2-5-10 warranty 1 parking 1 storage
MLS V974689
5742 Westport Court, West Vancouver $1,398,000
14K treed lot Quiet cul-de-sac 3 Bedrooms
5 Bathrooms Large basement Deluxe finishes
Gourmet kitchen Huge patio New furnace
Prime location Tons of storage 2 car garage
MLS V975848
307 – 535 Smithe Street, Vancouver BC $489,000
1 Bedroom 1 Bathroom 648 sq. ft.
2 Juliet balconies Deluxe finishes 9’4 ceilings
Hardwood floors Stainless steel kitchen In-suite laundry
1 storage locker In-suite storage/flex room 1 parking
MLS V975937
304 – 2851 Heather Street, Vancouver BC $2800/mo.
Corner Suite 3 Bedroom 2 Bathroom
1,089 sq .ft. Semi-furnished 9’ ceilings
Hardwood floors Stainless steel kitchen In-suite laundry
109 sq. ft. patio 1 storage locker 1 parking
NEW PRICE! FOR RENT
JUST SOLD! NEW LISTING!