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Ian Watt Personal Real Estate Corporation - Sotheby's International Realty Canada

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Downtown Vancouver Condo Listings Up 40% Compared to 2009

Vancouver Condo Real Estate Video Blog #523 - March 26, 2010

Downtown Vancouver Condo Listings Up 40% Compared to 2009

Ian Watt video blogs about how 4 weeks after the Olympics we are seeing the active listing counts for the Downtown Vancouver condos (including Gastown, Yaletown, Downtown, Coal Harbour and the West End) well over 1400 (March 25 2010 Finished the Day with 1413 units) units compared to 2009 levels which were mostly under 1000 units. This inventory is great news for buyers but will likely have downward pressure on sellers and ultimately on condo pricing. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs.
 
 

Ian Watt: Hi Good Afternoon, its Ian Watt in Downtown Vancouver. After the Olympics we saw a lot of listings coming on in the Downtown core. As I blog about before we usually see about or under a thousand listings for the entire Downtown core including Gastown, Yaletown, Coal Harbour, West End and the Downtown areas. Now were in to the fourth week after the Olympics and everyday we've seen about 35 new listings and about 10 sales. This is probably going to have an impact it has been amazing to see how many listings have come on and were seeing the listing count around fourteen hundred now. Thirteen fifty two is the last I saw now we have fourteen hundred so it's going to be very interesting. Are we going to absorb this or is it going to have some pressure from downward pressure on the prices of condos in the Downtown core. Something to think about. My name is Ian Watt and you can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!