After looking at the sales figures for the West End during 2010- here is some information and trends on the specific buildings that had the most activity. Interesting to compare their locations and price ranges
The most active building was the Shangri La on Alberni/Georgia Streets. Total sales numbered 53 - from a one bedroom selling at $475,000.00 to a suite on the 51st floor selling at $5,800,000.00. It took a while to see the supply in the building sell off - as many original purchasers had investment on their minds and upon completion of the project most of suites went to market. Of course this was very near 2008 and we don't have to repeat what kind of year that was - both locally and on a global scale. Currently there are 15 listings at Shangri La and I am sure a few more to follow entering 2011 as we "shake out" the Vancouver real estate market - entering a more balanced state.
Second ranking goes to The Lions - East and West Towers - located at 1331 and 1367 Alberni Street. All but one of the 34 sales was under the $500,000.00 price tag. This reflects the most active price range in the 2010 year end review for the West End - found in my last blog.
The third most active address was the Residences on Georgia - 1200-1288 W Georgia Street. Very popular due to location and general pricing. There were 30 sales - almost exclusively under $500,000.00.
The George - at 1420 W Georgia - had 11 sales.
Interesting numbers - 128 sales in 4 developments - within 4 blocks of each other - backing onto Alberni Street.
A few others. Stepping away from the core - the Milano on Burnaby and Burrard Streets had 12 sales - all under $400,000.00 with one exception at the $450k mark. Great building depending on the suite orientation in a great area - turn right upon exit and enjoy the West End neighborhood calm - turn left and embrace the hustle of the downtown and/or the Davie Village.
An active leasehold building was at 1251 Cardero Street - The Surfcrest - with 9 sales. Excellent location and at 42 years young still generating some great options.
So far this year - just 2 weeks into it - there has been a pleasant surprise on the activity we are seeing. Our listings are steady with calls to view - right back to pre-holiday values and the number of clients now thinking of listing their properties - is indicating that our spring market could begin to show early signs of life. With no Olympic break this year - yes I am missing it already but I still have my mittens to re-live the past - I do think everyone is looking foreword to an early spring - no offence to the skiers and boarders.
If you have any comments, questions or simply a desire to chat about either buying or selling here in Vancouver - our lines and coffee shops are always open. Statistics are great - trends are interesting - but there is nothing like hearing what is happening at street level. Contact me anytime - would be my pleasure to take some of the sugar off the coating.