379 27.2% 821 58.4% 30 70.6%
Total Page:16
File Type:pdf, Size:1020Kb
February 2020 VS. February 2019 COMBINED UNIT SALES 379 27.2% INVENTORY AT MONTH END 821 58.4% AVE. DAYS ON MARKET 30 70.6% HPI BENCHMARK PRICE - DOWNTOWN $780,500 FEB 2.31% FAITH’S KEY INSIGHTS: February Vancouver Condos If there has been one constant in Vancouver it is the ongoing love affair with condominium owner- ship. Despite a blizzard of government policies to cool demand, the highest prices in the country and a recent construction pace that would overwhelm most markets, condos are selling in Van- couver at a near feverish pace. Since New Years day, 1,875 condo apartments have sold in Metro Vancouver, up more than 500 transactions from the same time in 2019. The City of Vancouver, which has the highest condo prices in the region, is the most popular for buyers, who purchased 379 condos in the city in February at an average price of more than $800,000. ...contd. on p.2 CONDO REPORT VANCOUVER EAST & WEST February 2020 This communication is not intended to solicit properties already listed. FEBRUARY - VANCOUVER CONDO REPORT THE REAL VANCOUVER CONDO RESULTS: FEB 2020 THE REAL NEIGHBOURHOOD RESULTS: FEB 2020 SALES PRICE MONTHLY TREND SALES AND BENCHMARK BENCHMARK PRICE PRICES BY NEIGHBOURHOOD CHANGE (%) $1,000,000 MLS Neighbourhood Unit Sales HPI Benchmark Price 1 Month 3 Months $900,000 $861,732 $828,239 $837,164 VVE $808,449 $816,600 $818,785 Average Sales Price $800,000 Champlain Heights 1 739,600 0.49 4.78 – Collingwood VE 15 493,400 -2.21 1.55 $700,000 $723,000 $715,000 $708,500 $700,000 Downtown VE 12 618,000 2.47 -1.03 $688,500 $673,500 $600,000 Fraser VE 2 523,900 0.24 1.27 Grandview Woodland 7 550,900 2.38 2.61 Median Sales Price $500,000 – Hastings 5 467,600 1.47 -1.86 SEP OCT NOV DEC JANFEB Hastings Sunrise 0 485,000 3.30 3.53 DAYS ON MARKET MONTHLY TREND Killarney VE 0 601,500 1.47 6.47 Knight 2 686,700 1.53 2.84 50 41 Main 5 699,000 1.39 1.39 39 40 37 38 35 Mount Pleasant VE 32 601,100 4.16 12.44 30 Average Days on Market Renfrew Heights 1 423,000 2.04 0.93 30 – Days Renfrew VE 2 599,500 3.74 3.74 20 24 21 22 South Marine 14 667,100 0.10 4.32 19 16 10 14 Strathcona 7 706,300 3.96 11.24 Victoria VE 8 636,100 3.86 2.72 0 Median Days on Market Vancouver East 118 579,800 1.97 5.08 SEP OCT NOV DEC JANFEB – VVW Cambie 7 690,200 1.66 6.01 Coal Harbour 7 990,000 2.91 10.66 LISTING AND SALES ACTIVITY BY PRICE SEGMENT Downtown VW 61 698,100 2.90 8.82 Sales-to-New- Dunbar 1 693,700 1.85 -0.42 Price Segment ($) New Listings Added Unit Sales Listings Ratio Fairview VW 23 811,300 4.47 9.41 0 – 200,000 0 0 0% False Creek 14 846,200 4.52 6.89 200,001 – 250,000 0 0 0% Kerrisdale 4 877,800 1.08 -1.67 250,001 – 300,000 4 1 25% Kitsilano 24 639,300 2.32 4.62 300,001 – 350,000 3 2 67% Marpole 9 598,700 1.49 4.98 350,001 – 400,000 14 7 50% Mount Pleasant VW 1 586,600 3.87 6.30 400,001 – 450,000 25 10 40% Oakridge VW 3 1,065,400 2.52 6.49 450,001 – 500,000 30 20 67% Point Grey 2 593,800 0.04 -2.34 500,001 – 550,000 44 34 77% Quilchena 6 1,071,300 1.59 -1.03 550,001 – 600,000 63 31 49% S.W. Marine 5 488,600 0.03 -2.07 600,001 – 650,000 45 38 84% Shaughnessy 1 625,000 2.22 3.71 650,001 – 700,000 69 32 46% South Cambie 2 933,300 0.65 7.10 700,001 – 800,000 99 67 68% South Granville 1 1,002,800 1.07 5.62 800,001 – 900,000 58 41 71% Southlands 1 776,800 1.72 -3.32 900,001 – 1,000,000 56 31 55% University VW 14 887,100 1.84 -2.35 1,000,001 – 1,250,000 57 32 56% West End VW 31 656,000 2.63 3.31 1,250,001 – 1,500,000 48 11 23% Yaletown 44 850,900 1.09 6.20 1,500,001 – 1,750,000 23 7 30% Vancouver West 261 796,100 2.62 6.08 1,750,001 – 2,000,000 24 7 29% 2018 2019 CHANGE 2,000,001 – 2,250,000 8 3 38% UNIT SALES (BY MONTH) 2,250,001 – 2,500,000 7 2 29% January 207 306 47.8% 2,500,001 + 31 3 10% February 298 379 27.2% March Totals 708 379 54% April May June Total 505 685 35.6% Faith’s Exclusive Vancouver Condo Analysis PAGE 2 JANUARY - VANCOUVER CONDO REPORT THE REAL VANCOUVER CONDO RESULTS: JAN 2020 THE REAL NEIGHBOURHOOD RESULTS: JAN 2020 SALES PRICE MONTHLY TREND SALES AND BENCHMARK BENCHMARK PRICE PRICES BY NEIGHBOURHOOD CHANGE (%) $1,000,000 MLS Neighbourhood Unit Sales HPI Benchmark Price 1 Month 3 Months $900,000 $861,732 $828,239 $837,164 VVE $806,669 $808,449 $816,600 Average Sales Price $800,000 Champlain Heights 0 735,900 2.92 5.86 – Collingwood VE 15 504,500 2.78 6.48 $700,000 $715,000 $708,500 $700,000 Downtown VE 7 603,100 -1.56 -4.24 $688,000 $688,500 $673,500 $600,000 Fraser VE 3 522,600 0.53 3.10 Grandview Woodland 4 538,100 -0.19 1.72 Median Sales Price $500,000 – Hastings 9 460,800 -0.53 -4.43 AUG SEP OCT NOV DEC JAN Hastings Sunrise 0 469,500 0.62 1.31 DAYS ON MARKET MONTHLY TREND Killarney VE 2 592,800 1.46 3.95 Knight 0 676,300 -1.36 1.90 50 41 Main 3 689,400 -0.97 1.25 39 39 40 37 38 35 Mount Pleasant VE 15 577,100 3.78 6.02 Average Days on Market Renfrew Heights 0 414,500 -0.39 0.47 30 – Days Renfrew VE 1 577,900 -0.62 2.67 20 25 24 21 22 South Marine 12 666,400 1.75 4.65 19 10 14 Strathcona 3 679,400 3.06 5.37 Victoria VE 4 612,500 -0.23 2.42 0 Median Days on Market Vancouver East 78 568,600 1.66 3.02 AUG SEP OCT NOV DEC JAN – VVW Cambie 7 678,900 1.29 2.13 Coal Harbour 7 962,000 4.90 8.67 LISTING AND SALES ACTIVITY BY PRICE SEGMENT Downtown VW 43 678,400 2.00 5.63 Sales-to-New- Dunbar 1 681,200 -2.55 -2.92 Price Segment ($) New Listings Added Unit Sales Listings Ratio Fairview VW 18 776,500 2.56 3.02 0 – 200,000 0 0 0% False Creek 21 809,600 1.84 2.65 200,001 – 250,000 0 1 0% Kerrisdale 5 868,400 -1.53 -2.64 250,001 – 300,000 0 0 0% Kitsilano 24 624,800 1.89 1.98 300,001 – 350,000 6 2 33% Marpole 10 589,900 1.45 2.23 350,001 – 400,000 20 10 50% Mount Pleasant VW 0 564,700 3.57 3.91 400,001 – 450,000 10 7 70% Oakridge VW 1 1,039,200 0.46 1.63 450,001 – 500,000 32 13 41% Point Grey 4 593,500 -1.82 -2.78 500,001 – 550,000 43 34 79% Quilchena 3 1,054,500 -1.91 -2.08 550,001 – 600,000 45 19 42% S.W. Marine 0 488,400 -2.47 -4.03 600,001 – 650,000 41 35 85% Shaughnessy 0 611,500 0.72 4.53 650,001 – 700,000 44 26 59% South Cambie 3 927,300 2.90 3.52 700,001 – 800,000 73 45 62% South Granville 1 992,200 2.35 1.50 800,001 – 900,000 63 31 49% Southlands 1 763,600 -4.05 -3.12 900,001 – 1,000,000 49 13 27% University VW 11 871,100 -0.98 -3.76 1,000,001 – 1,250,000 66 20 30% West End VW 23 639,200 1.09 0.35 1,250,001 – 1,500,000 53 14 26% Yaletown 27 841,800 4.25 3.41 1,500,001 – 1,750,000 27 9 33% Vancouver West 210 775,700 2.03 2.86 1,750,001 – 2,000,000 27 2 7% 2018 2019 CHANGE 2,000,001 – 2,250,000 13 1 8% UNIT SALES (BY MONTH) January 207 306 47.8% 2,250,001 – 2,500,000 16 3 19% January 207 288 39.1% February 298 379 27.2% 2,500,001 + 37 3 8% February March March Totals 665 288 43% April April May May June June Total 505 685 35.6% Total 207 288 39.1% Faith’s Exclusive Vancouver Condo Analysis PAGE 3 FEBRUARY - VANCOUVER CONDO REPORT contd. from p.1 Vancouver has Canada’s most sophisticated real estate investors for anyone who purchased a condo at the benchmark price. Since and they know that that owning a Vancouver condo is a flat-out 2017, the typical Vancouver condo has gained 17% in value and is great investment.