Downtown condo market snapshot May 2010

Here are stats from May 1st 2010 to May 15th 2010 for Vancouver West Downtown apartments. 847 Active listings averaging 1 bed 1 bath 841 sqft. Listed price $604,027 or $718.00/sqft. 28 Sold listings averaging 1 bed 1 bath 702 sqft L/P $412,917 S/P $405,880 or $578.17/sqft. Average days on market to sell 27>>>>>>           This compares to same time frame in May 2009 where downtown 77 Sold with average 1 bed 1 bath 723sqft L/P $427,375 and S/P $417,039 or $576.81/sqft. Average DOM 41>>>> False Creek North Stats 245 Active listings averaging 1 bed 2 bath 1,261 sqft with L/P $1,284,677 or $1,018.77/sqft. 11 Sold averaging 1 bed 1 bath 1,090 sqft. L/P $932,718 S/P $899,545 or $825.27/sqft with DOM 22>>>This compares to same time frame in May 2009 where 31 Sold averaging 1 bed 1 bath  949 sqft  L/P $683,300 S/P $628,123 or $661.87/sqft DOM 68.

So the Vancouver downtown condo market is showing obvious signs of increased inventory and decreasing sales. Certainly prices are up in False Creek North compared with Downtown/Yaletown prices which have remained comparable to this time last year. 

For more Vancouver condo or real estate info contact Kerry Stimpson CENTURY 21 In Town Realty

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