Single Family Homes Saw Balanced Market in Vancouver Westside – But With A Catch!
Contrary to the hot sellers market of 43% sales ratio for condos & townhomes in the Westside of Vancouver, the detached housing market here saw a balanced 17% sales ratio in December 2021. New inventory reduced by 24% while sales reduced by 19% compared to November for lower net activity but a slightly higher sales ratio.
Many Price Bands Saw Very High Activities in Vancouver West in December 2021
Vancouver Westside Houses priced $1.75M to $2.25M had an extremely high absorption rate of 166% due to low inventory – only 3 listings were added while 5 homes sold. Above that, houses priced $2.25M to $4M in Vancouver Westside saw a lower, yet still hot, 40% sales ratio with 51 homes trading hands while 129 were added.
Sharply Declining Activity With High Excess Inventory In The Higher Price Bands in the Westside of Vancouver
The price bands above $4M draw a different picture. 13% of houses priced between $4M to $6.5M in Vancouver Westside sold in December of 2021, drawing a stark contrast to the very high ratios of lower price bands. When it comes to the luxury priced segment of Vancouver Westside homes over $6.5M, there were a staggering 156 listings added with only 1 sale for a paltry 0.6% sales ratio.
The high number of new inventory and scarce sales in the high price segment in Vancouver Westside appear to be skewing the net sales ratio to “balanced”, while the majority of activity and sales in the mid-range price bands show a still hot sellers market.
Fastest Moving Vancouver Westside Areas for Houses in December 2021
Quilchena, Kerrisdale & South Cambie houses had the highest sales ratios among Vancouver West, with all three areas moving at 33% or higher. The most inventory movements in Vancouver West were seen in Dunbar, Point Grey, South Granville however, combining for 30 of the 79 homes sold. Shaughnessy and Marpole had the lowest sales ratios in Vancouver Westside (7% for both). Among the 455 new single family home listings added in Vancouver Westside, these two areas contributed 98.
Get A More Detailed Breakdown of Single Family Homes Sales in Vancouver West
Curious to know which houses sold, and for how much, in any specific region in Vancouver last month? Contact the Filer & Welch team now for a more comprehensive real estate sales report!