Special Report - Vancouver Detached Single Family Homes Westside - Impact from Foreign 15% Tax
- take a few minutes to how new 15% tax introduced Aug 2nd has impacted single family market in Vancouver Westside
- look at 3 variables see how changed since tax introduced and since this time last year.
1) inventory, 2) # sales 3) Sale Price
1) Inventory: here is the challenge for buyers in the Westside - inventory hasn’t really changed since Aug or this time last year. +/- 1%. This is why we will see prices haven’t moved much.
2) # Sales: Sales are actually up since Aug when the tax was intro. by 24% but when you look at Oct 2015 comp to now sales are dn 52%
3) Sale Price: down 9% comp to Aug this year, but we are still up 10% compared to Oct 2015.
Lots of stats! One last thing - strong seller’s market in Oct 2015 now market favouring buyers.
Information package Westside, North Vancouver, Richmond, Burnaby, Surrey, Coquitlam
What's Hot in the Vancouver Westside Single Family Market - November 2016
Get your information package here: https://davidsetton.com/market-updates.html
What’s hot What’s Not – Vancouver Westside – Single Family for Nov 2016
- The market in the Westside is favouring buyers
- Prices actually went up in October from $2.99m in Sept to $3.2m in October. The number of homes sold is less than ½ of the solds compared to October
- Only 78 homes sold last month. Down 66% from April (peak sales) of this year
- tricky - supply is low at 570 homes on market.
What’s Hot (21% or more for a SR)
- Mackenzie Heights
- 9 / 17 sold here - 53% sales ratio
- University area also strong - 6/ 12 sold - 50% sales ratio
- which price categories favouring sellers
- $2.25M - $2.5M - 12 / 26 sold 46% sales ratio
- $3m - $3.5M - 11 / 48 - 23% sales ratio
What’s not hot (14% or less for a sales ratio)
- South Granville 5 / 76 - 7% sales ratio
- Shaughnessy 6 / 67 sold - 9% sales ratio
- which price category
What's Selling in Kitsilano for July 2015
Download your all the homes that sold in kitsilano here: https://davidsetton.com/market-updates.html
What’s hot in the Kitsilano Single Family for July 2015
The Van Westside Single Fam market is very strong and very much fav sellers and Kits is no exception.
- 18 Homes sold in Kits for between $1.345M (low end - small 30’ x 88’ land) $5.8M for waterfront home just off Maple in Kits Point
- most homes selling for close to asking price or over
- 39 homes were available and on the market in Kits in June so to have 18 sales puts us in a strong sellers market at a 46% SR (21% or greater)
- Sold values in Kits are lower at $2.13M than the median price for a home in the Westside - now at a staggering $2.967M
If you like to take a look at these sales, I have a new package you can download at the link below map locating them and photos and details for each property. specialize ph num
What's Hot and What's Not in the Vancouver Westside Single Family Market for July 2015
Learn more about the market in your area: https://davidsetton.com/market-updates.html
What’s hot What’s Not – Vancouver Westside – Single Family for June 2015
- Continues to favour sellers. Last month the average price hit $2.967M - $667k higher than median price this time last year. Values are moving up at $100k / mo. over last 6 mo.
- Supply remains very constrained 588 homes on market. 238 Sold
What’s Hot (21% or more for a SR)
- almost every area in the westside is fav sell
- Dunbar - 67% - 34 / 51
- Mac heights - 69% 9 / 13
- Point Grey - 55% - 24 / 44 sold
- every price category favouring sellers
- $2M - $2.25M - 100% SR 26 / 26 sold
- $2.5M - $2.75M - 20 / 34 - 59% SR
What’s not hot (14% or less for a SR)
- 1 area is a little bit weaker - university area - 3 / 21 sold - 14% - balanced - not fav buyers