August was stable compared to July in that the supply of houses relative the the actual sales remained fairly stable. The one notable statistic was the Average sale price of a house. In August the average was pulled higher by 14% over the 2011 average sale price. This increase is due to two very large sales on the Westside during the month. Of the 75 houses sold, there were two sales over $ 12 million which have brought the average sale price up. Another interesting statistic is the drop in supply from Aug 31st to Sept 1st of approximately 60 houses. For the first time in several months we have under 1000 houses for sale but I predict this number to quickly move up as more homes enter the market in time for the Fall. In the past three weeks I personally noticed a pick-up in the number of buyers looking at houses and the number of offers received. So far we have not seen this translate into increased house sales. With September upon us it will be a matter of time before we see if our market will see increased sales activity or not. Stay tuned!
Here’s how the numbers stack up for Westside Real Estate Activity in August:
Single Family Homes
- During the month of August there were 75 homes sold compared to 130 last August and 83 one month ago. Year to date house sales are down 41%
- Average selling price of a house was up 14% from last August to $ 2,859,945. I believe this increase is due to two homes sold over $ 12 million during the month. This has no doubt pulled up the average. Year to date the average sale price is up 2% to $ 2,451,044.
- There were 995 homes listed for sale at Aug 31st this year compared to 643 one year ago. An increase of 54%
- At August 31st we have 13 month’s supply versus 5 month’s 1 year ago.
Townhomes and Condos
- During the month of August Townhome sales were down 29% from last year and condo sales were down 26%. Year to date sales are down 31 and 19% respectively.
- The average selling price of a townhome is down 4% and condo prices are even compared to last August. Year to date average sale prices are almost even with a townhome selling for $ 958,131 and a condo $ 621,379.
- The supply of townhomes and condos has risen 28% and 13% respectively.
- There are 8 month’s supply of townhomes and 8.5 month’s supply of condos at the end of August.
- Greater Vancouver ( All Real Estate Sales)
- Sales of all Single Family Houses in all Vancouver areas was down 39% from this August compared to last August. Year to date sales are down 28%
- Average sale price year to date is down 5% to $ 1,120,411 with 12.6 month’s supply of houses available compared to 6 month’s supply 1 year ago
Is Your Home Market Ready?
If you are thinking of placing your home on the market this Fall, remember, First Impressions are everything. Jill and I would be pleased to drop by, meet with you and suggest what you can do to increase not only the saleability of your home but also its Market value. So many of our suggestions are typically simple changes or repairs well worth the effort.
A poorly staged home with outstanding deficiencies will always sell for less and take longer to sell that the well prepared home.
Don’t sell yourself short. Call us today! We can easily be reached on our mobile at 604-657-7936 or via email at Andrew@andrewhasman.com.
Have a Great Autumn!
Andrew & Jill Hasman