Vancouver’s Fairview neighbourhood ended the year resiliently in December with buyers still active in the one bedroom condo market.
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 December had a 27% list to sales ratio, resulting from 63 listings and 17 sales. The Fairview neighbourhood was only second to Kitsilano for activity amongst Westside neighbourhoods.
The BIGGER picture
Here’s the breakdown for condo’s & town homes on Vancouver’s Westside in December:
• 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 with a 57% list to sales ratio
. • Homes are selling on average at 4% below list price
. • Buyer’s Best Bet: Homes between $1.75M to $2M, Cambie, South Granville & minimum 3 bedroom properties
• Seller’s Best Bet: Selling Homes in Kitsilano and up to 1 bedroom properties
In December this year condo and townhouse inventory decreased by 32%, benchmark prices decreased by 5%, while total sales decreased 32%.
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.