Detached homes in Vancouver Westside saw a lower sales ratio of 13% in January compared to the previous month. Although this number isn’t as persuasive as the other areas, it is mainly due to a large influx of new inventory above $3.5M with little sales. Houses in the middle range of $1.7M – $3.5M had a strong month in sales ratio (38%), but only accounted for a small portion of new inventory.
Strong Divide in Sales Ratio for Westside Houses Priced Above/Below $3.5M Mark
Although the Westside suffered a lower sales ratio for the month, houses in Vancouver Westside priced below $3.5M showed very strong. New inventory only saw 97 new listings for this large price bracket but recorded a 38% sales ratio with 37 sales. The best performing price band in this bracket was Vancouver Westside houses priced $2.5M-$2.75M, with a 100% sales ratio. These homes brought in 11 new listings and 11 sales.
Weighing down the total sales ratio for the month was Vancouver Westside houses priced $3.5M and above. New inventory welcomed 401 of 500 total new listings for the area, accounting for 80% of total new inventory. However, this range suffered a low sales ratio of 6% with only 26 sales. The slowest performing band for this group was houses priced above $6.5M. Homes in this category saw a grand addition of 156 new listings and only 4 sales (2.5% sales ratio).
Nearly No Inventory for Houses Below $1.75M In Vancouver Westside
For Vancouver Westside houses below $1.75M, the market saw extremely limited inventory for the month with only 2 new listings for the entire price range. This is very similar to last month’s numbers and illustrates the strong upward trend in housing prices today.
Kitsilano, Mackenzie Heights, Marpole Among Highest Performing Neighbourhoods for January
Houses in Kitsilano had the most action this month with 24 new listings and 9 sales, generating a 38% sales ratio. Mackenzie Heights and Marpole detached homes both followed with the next highest sales ratios of 20% and 22% respectively. The two neighbourhoods together accounted for 52 new listings and 11 sales (21% combined sales ratio).
Lots of New Inventory in Cambie, Dunbar, Shaughnessy
Cambie, Dunbar and Shaughnessy saw the most additions to new inventory for the month, however, did not turnover as many sales. The 3 Neighbourhoods collectively brought in 178 new listings for the month with only 17 sales, recording a 9.5% sales ratio. Click here to see the extensive offering of houses in Cambie, Dunbar and Shaughnessy.
Get more Insight on Which Houses Sold (and did not) in Vancouver Westside Last Month
Contact Ken & Samantha for a more detailed report on Vancouver Westside’s detached houses movement in the last month of 2021. We’d love to explore great opportunities with you.
Brought to you by your friendly REALTORS® through the MLS® System, courtesy of Ken Stef for your convenience.