Market Commentary
West Side - East Side - Never The Twain Shall Meet?
July 16, 2012 | Posted by: Francine Tracey
West Side - East Side - Never The Twain Shall Meet?
Neil Hamilton, (neilhamilton@macrealty.com) longtime Vancouver Realtor, has some interesting observations about the Vancouver East and Westside real estate markets:
West Side Detached - 102 sales on 1078 listings. 10.8 month supply. Lowest sales/highest listings since '02. Hamilton: 'Way into Buyers' territory. The Chinese are either keeping their money for now or can't get their hands on any! (I hear credit's tightened up a lot in China...)'
WS Townhomes - 46 sales over 362 listings. Same sales/listings records as Detached. 7.8 month supply. Buyers' market
WS Condos - 331 over 2344 (7.1 mo. supply). But not all that bad as last year there were 374 sales. Buyers' market
East Side Detached - 107 sales over 694 listings (6.5 mo. supply). Sold 180 last year. Balanced market
ES townhomes - 35 sales over 151 listings. 4.7 mo. supply. Sellers'. Beat last year by one sale.
ES condos - 136 sales over 603 listings. 4.4 mo. supply Sellers'. Sold 110 last year
Finally adds Hamilton: 'The interesting thing about the City is that it's the West Side that's really sucking wind. The East Side is performing pretty well. June actually outsold last year in townhomes and condos...'