Fairview real estate market hot while others are not 

Vancouver’s Fairview neighbourhood was in a “Seller’s” market in November with the greatest demand for the most affordable one bedroom properties. 

How do we know? List to Sales Ratio 

  • A buyer’s market has a 0-12% list to sales ratio
  • A balanced market has a 12-20% list to sales ratio
  • A seller’s market has a 21% or greater list to sales ratio

Fairview real estate in November had a 36% list to sales ratio, resulting from 92 listings and 33 sales. The other Westside neighbourhood with strong demand in the condo and townhouse market last month was Kitsilano with a 29% list to sales ratio.  

The BIGGER picture 

Here’s the breakdown for condo’s & town homes on Vancouver’s Westside in November:

Overall a balanced market at 16% list to sales ratio (1.6 out of 10 selling rate)
The most active price range was for homes priced between $400k-$500K
Homes are selling on average at 1% below list price
Buyer’s Best Bet: Homes between $1.75M to $2M, Cambie, Marpole, Point Grey, South Cambie & minimum 4 bedroom properties
Seller’s Best Bet: Selling Homes in Fairview, Kitsilano and up to 1 bedroom properties

In November this year condo and townhouse inventory decreased by 6%,  benchmark prices decreased by 5%, while total sales decreased 30%.

Thinking of buying or selling? Over 10 years of serving clients in the Fairview area

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All stats derived from Dean Wegman & SnapStats.