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
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
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
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